PepsiCo, Inc. (NASDAQ:PEP) Holdings Lowered by Forvis Mazars Wealth Advisors LLC

Forvis Mazars Wealth Advisors LLC reduced its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 4.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,069 shares of the company’s stock after selling 1,625 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in PepsiCo were worth $4,876,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. State Street Corp lifted its stake in PepsiCo by 5.1% in the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after acquiring an additional 2,775,679 shares in the last quarter. Geode Capital Management LLC lifted its stake in PepsiCo by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock worth $5,170,529,000 after acquiring an additional 543,558 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in PepsiCo by 5.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock worth $3,632,413,000 after acquiring an additional 1,125,059 shares in the last quarter. Franklin Resources Inc. lifted its stake in PepsiCo by 21.1% in the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock worth $2,293,049,000 after acquiring an additional 2,264,445 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in PepsiCo by 2.7% in the 3rd quarter. Wellington Management Group LLP now owns 12,098,551 shares of the company’s stock worth $2,057,359,000 after acquiring an additional 313,468 shares in the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Price Performance

Shares of NASDAQ:PEP opened at $153.50 on Friday. The business has a 50 day moving average price of $148.66 and a 200 day moving average price of $162.18. PepsiCo, Inc. has a twelve month low of $141.51 and a twelve month high of $183.41. The company has a market cap of $210.53 billion, a price-to-earnings ratio of 22.09, a PEG ratio of 3.09 and a beta of 0.54. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05.

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

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a $1.355 dividend. The ex-dividend date is Friday, March 7th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.53%. PepsiCo’s dividend payout ratio is currently 77.99%.

Analysts Set New Price Targets

Several research analysts have weighed in on PEP shares. Deutsche Bank Aktiengesellschaft dropped their target price on PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. TD Cowen dropped their target price on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. UBS Group dropped their target price on PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Morgan Stanley dropped their target price on PepsiCo from $185.00 to $168.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 5th. Finally, Citigroup dropped their target price on PepsiCo from $195.00 to $170.00 and set a “buy” rating on the stock in a research report on Wednesday, February 5th. One investment 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. Based on data from MarketBeat, PepsiCo presently has a consensus rating of “Hold” and an average price target of $171.47.

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.