Patten & Patten Inc. TN Sells 401 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Patten & Patten Inc. TN lowered its stake in PepsiCo, Inc. (NASDAQ:PEP) by 0.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 56,878 shares of the company’s stock after selling 401 shares during the period. Patten & Patten Inc. TN’s holdings in PepsiCo were worth $8,649,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of PEP. Swedbank AB boosted its stake in PepsiCo by 211.4% in the third quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock valued at $398,847,000 after buying an additional 1,592,343 shares in the last quarter. Howard Capital Management Group LLC boosted its stake in shares of PepsiCo by 2.0% during the third quarter. Howard Capital Management Group LLC now owns 4,568 shares of the company’s stock valued at $777,000 after purchasing an additional 90 shares in the last quarter. Balboa Wealth Partners boosted its stake in shares of PepsiCo by 2.8% during the third quarter. Balboa Wealth Partners now owns 2,611 shares of the company’s stock valued at $444,000 after purchasing an additional 72 shares in the last quarter. Northcape Wealth Management LLC boosted its stake in shares of PepsiCo by 0.5% during the third quarter. Northcape Wealth Management LLC now owns 34,118 shares of the company’s stock valued at $5,802,000 after purchasing an additional 170 shares in the last quarter. Finally, Coastline Trust Co boosted its stake in shares of PepsiCo by 1.4% during the third quarter. Coastline Trust Co now owns 22,531 shares of the company’s stock valued at $3,831,000 after purchasing an additional 312 shares in the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PEP. Barclays lifted their price target on PepsiCo from $153.00 to $168.00 and gave the company an “overweight” rating in a research note on Thursday, March 6th. Citigroup cut 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. Morgan Stanley cut their price objective on PepsiCo from $185.00 to $168.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. Piper Sandler assumed coverage on PepsiCo in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price objective on the stock. Finally, JPMorgan Chase & Co. cut their price objective on PepsiCo from $183.00 to $165.00 and set a “neutral” rating on the stock in a research note on Friday, January 24th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $170.59.

PepsiCo Trading Up 0.2 %

Shares of PEP stock opened at $148.59 on Friday. The company has a market cap of $203.79 billion, a P/E ratio of 21.38, a PEG ratio of 3.09 and a beta of 0.52. The stock has a 50 day simple moving average of $148.76 and a two-hundred day simple moving average of $159.99. 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 fifty-two week low of $141.51 and a fifty-two week high of $183.41.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.94 by $0.02. The firm had revenue of $27.78 billion during 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 company’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.78 earnings per share. Research analysts forecast 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. Stockholders of record on Friday, March 7th will be issued a dividend of $1.355 per share. The ex-dividend date is Friday, March 7th. This represents a $5.42 annualized dividend and a dividend yield of 3.65%. PepsiCo’s dividend payout ratio is 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.