Peapack Gladstone Financial Corp Lowers Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Peapack Gladstone Financial Corp trimmed its position in PepsiCo, Inc. (NASDAQ:PEP) by 2.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 413,460 shares of the company’s stock after selling 8,620 shares during the quarter. PepsiCo comprises about 0.9% of Peapack Gladstone Financial Corp’s investment portfolio, making the stock its 24th biggest position. Peapack Gladstone Financial Corp’s holdings in PepsiCo were worth $62,871,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Tcfg Wealth Management LLC lifted its stake in PepsiCo by 3.5% in the fourth quarter. Tcfg Wealth Management LLC now owns 1,938 shares of the company’s stock valued at $295,000 after buying an additional 66 shares in the last quarter. Lincoln Capital LLC raised its holdings in shares of PepsiCo by 0.4% during the fourth quarter. Lincoln Capital LLC now owns 16,808 shares of the company’s stock worth $2,556,000 after acquiring an additional 70 shares during the period. Marshall Financial Group LLC lifted its position in PepsiCo by 2.3% in the 4th quarter. Marshall Financial Group LLC now owns 3,128 shares of the company’s stock valued at $476,000 after acquiring an additional 70 shares in the last quarter. Osprey Private Wealth LLC boosted its stake in PepsiCo by 0.5% in the 4th quarter. Osprey Private Wealth LLC now owns 15,060 shares of the company’s stock worth $2,290,000 after purchasing an additional 70 shares during the period. Finally, TAGStone Capital Inc. increased its holdings in PepsiCo by 2.8% during the 4th quarter. TAGStone Capital Inc. now owns 2,527 shares of the company’s stock worth $388,000 after purchasing an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

PEP has been the subject of several recent research reports. Evercore ISI reduced their price objective on PepsiCo from $180.00 to $160.00 in a research report on Tuesday, February 4th. BNP Paribas reduced their price target on PepsiCo from $162.00 to $160.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. StockNews.com downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Citigroup reduced their target price on shares of PepsiCo from $195.00 to $170.00 and set a “buy” rating for the company in a report on Wednesday, February 5th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $169.88.

PepsiCo Stock Down 3.1 %

PEP opened at $146.61 on Friday. The stock has a fifty day moving average of $149.33 and a 200-day moving average of $157.07. The company has a market capitalization of $201.05 billion, a P/E ratio of 21.09, a P/E/G ratio of 3.09 and a beta of 0.49. PepsiCo, Inc. has a fifty-two week low of $141.51 and a fifty-two week high of $183.41. 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 (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $27.89 billion. During the same quarter in the previous year, the company earned $1.78 EPS. The business’s revenue was down .2% on a year-over-year basis. On average, equities analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 7th were paid a dividend of $1.355 per share. The ex-dividend date was Friday, March 7th. This represents a $5.42 dividend on an annualized basis and a yield of 3.70%. PepsiCo’s dividend payout ratio (DPR) is presently 77.99%.

PepsiCo Company 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.