BlackDiamond Wealth Management LLC Sells 101 Shares of PepsiCo, Inc. (NASDAQ:PEP)

BlackDiamond Wealth Management LLC reduced its stake in PepsiCo, Inc. (NASDAQ:PEP) by 3.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,030 shares of the company’s stock after selling 101 shares during the quarter. BlackDiamond Wealth Management LLC’s holdings in PepsiCo were worth $461,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. State Street Corp raised its holdings in PepsiCo by 5.1% in the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock valued at $9,738,429,000 after acquiring an additional 2,775,679 shares during the period. Geode Capital Management LLC increased its holdings in shares of PepsiCo by 1.8% during the third quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock worth $5,170,529,000 after purchasing an additional 543,558 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of PepsiCo by 18.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company’s stock worth $3,834,504,000 after purchasing an additional 3,856,193 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of PepsiCo by 5.2% during the fourth quarter. Bank of New York Mellon Corp now owns 14,013,158 shares of the company’s stock worth $2,130,841,000 after purchasing an additional 689,383 shares during the period. Finally, Franklin Resources Inc. increased its holdings in shares of PepsiCo by 21.1% during the third quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock worth $2,293,049,000 after purchasing an additional 2,264,445 shares during the period. 73.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. UBS Group lowered their target price on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. HSBC decreased their price objective on shares of PepsiCo from $186.00 to $170.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. TD Cowen decreased their price objective on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Evercore ISI decreased their price objective on shares of PepsiCo from $180.00 to $160.00 in a research note on Tuesday, February 4th. Finally, Citigroup decreased their price objective on shares of PepsiCo from $195.00 to $170.00 and set a “buy” rating on the stock in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $170.59.

PepsiCo Price Performance

Shares of NASDAQ:PEP opened at $151.34 on Tuesday. The firm has a market cap of $207.56 billion, a PE ratio of 21.78, a price-to-earnings-growth ratio of 3.09 and a beta of 0.52. The firm’s fifty day moving average is $148.86 and its 200-day moving average is $159.75. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.94 by $0.02. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The business had revenue of $27.78 billion during the quarter, compared to the consensus estimate of $27.89 billion. During the same quarter last year, the firm earned $1.78 earnings per share. PepsiCo’s quarterly revenue was down .2% on a year-over-year basis. Sell-side analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be paid a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date is Friday, March 7th. PepsiCo’s dividend payout ratio is presently 77.99%.

PepsiCo Profile

PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of various beverages and convenient foods worldwide. The company operates through seven segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region.