Cigna Investments Inc. New Sells 142 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Cigna Investments Inc. New trimmed its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,004 shares of the company’s stock after selling 142 shares during the quarter. Cigna Investments Inc. New’s holdings in PepsiCo were worth $2,129,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Highline Wealth Partners LLC acquired a new position in PepsiCo in the 3rd quarter valued at about $28,000. Legacy Investment Solutions LLC acquired a new position in PepsiCo during the 3rd quarter worth approximately $31,000. Rakuten Securities Inc. increased its position in PepsiCo by 93.2% during the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after purchasing an additional 96 shares in the last quarter. Bay Harbor Wealth Management LLC acquired a new position in PepsiCo in the 4th quarter valued at approximately $34,000. Finally, ORG Wealth Partners LLC acquired a new stake in shares of PepsiCo during the third quarter worth $44,000. 73.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. TD Cowen cut their target price 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. Piper Sandler started coverage on shares of PepsiCo in a report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price objective for the company. Barclays reduced their target price on shares of PepsiCo from $158.00 to $153.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. BNP Paribas dropped their price objective on PepsiCo from $162.00 to $160.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. Finally, HSBC dropped their price objective on PepsiCo from $186.00 to $170.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $171.47.

PepsiCo Stock Performance

Shares of NASDAQ:PEP opened at $144.35 on Tuesday. The company has a market capitalization of $197.98 billion, a price-to-earnings ratio of 20.77, a price-to-earnings-growth ratio of 2.89 and a beta of 0.54. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41. The company has a quick ratio of 0.70, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. The firm has a 50 day moving average of $151.42 and a 200 day moving average of $164.06.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.02. The company had revenue of $27.78 billion during the quarter, compared to the consensus estimate of $27.89 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. PepsiCo’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.78 earnings per share. On average, sell-side analysts predict that PepsiCo, Inc. will post 8.34 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be issued a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date is Friday, March 7th. PepsiCo’s dividend payout ratio (DPR) 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.