Avidian Wealth Enterprises LLC Sells 158 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Avidian Wealth Enterprises LLC lowered its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 0.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,673 shares of the company’s stock after selling 158 shares during the period. Avidian Wealth Enterprises LLC’s holdings in PepsiCo were worth $2,687,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several brokerages have recently issued reports on PEP. Citigroup decreased their price target on PepsiCo from $195.00 to $170.00 and set a “buy” rating on the stock in a research note on Wednesday, February 5th. Evercore ISI lowered their target price on PepsiCo from $180.00 to $160.00 in a research note on Tuesday, February 4th. Barclays decreased their price target on shares of PepsiCo from $158.00 to $153.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Wells Fargo & Company cut their target price on shares of PepsiCo from $155.00 to $150.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 5th. Finally, Piper Sandler began coverage on PepsiCo in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price target for the company. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $171.47.

PepsiCo Stock Performance

NASDAQ:PEP opened at $145.64 on Wednesday. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.70 and a current ratio of 0.82. PepsiCo, Inc. has a fifty-two week low of $141.51 and a fifty-two week high of $183.41. The company has a 50 day simple moving average of $151.05 and a two-hundred day simple moving average of $163.87. The company has a market capitalization of $199.75 billion, a PE ratio of 20.96, a P/E/G ratio of 2.89 and a beta of 0.54.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.02. The company had revenue of $27.78 billion for the quarter, compared to the consensus estimate of $27.89 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The firm’s revenue was down .2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.78 EPS. Research analysts anticipate that PepsiCo, Inc. will post 8.34 earnings per share for the current year.

PepsiCo Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date is Friday, March 7th. PepsiCo’s payout ratio is 77.99%.

About PepsiCo

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.