Walter & Keenan Wealth Management LLC IN ADV Sells 665 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Walter & Keenan Wealth Management LLC IN ADV lowered its stake in PepsiCo, Inc. (NASDAQ:PEP) by 3.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 17,297 shares of the company’s stock after selling 665 shares during the quarter. Walter & Keenan Wealth Management LLC IN ADV’s holdings in PepsiCo were worth $2,630,000 as of its most recent filing with the Securities & Exchange Commission.

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

PepsiCo Trading Down 0.5 %

PEP opened at $144.58 on Monday. PepsiCo, Inc. has a one year low of $141.51 and a one year high of $183.41. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.70 and a current ratio of 0.82. The stock has a market cap of $198.29 billion, a price-to-earnings ratio of 20.80, a P/E/G ratio of 2.89 and a beta of 0.54. The stock’s 50 day moving average price is $151.42 and its 200-day moving average price is $164.09.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.94 by $0.02. The business had revenue of $27.78 billion for the quarter, compared to analyst estimates of $27.89 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The business’s revenue was down .2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.78 earnings per share. On average, equities analysts forecast that PepsiCo, Inc. will post 8.34 EPS for the current year.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be paid a $1.355 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $5.42 dividend on an annualized basis and a yield of 3.75%. PepsiCo’s dividend payout ratio is currently 77.99%.

Analyst Upgrades and Downgrades

Several analysts have commented on PEP shares. UBS Group decreased their price target on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. CICC Research reissued a “market perform” rating on shares of PepsiCo in a research note on Friday. Evercore ISI decreased their price objective on PepsiCo from $180.00 to $160.00 in a report on Tuesday, February 4th. Barclays cut their target price on shares of PepsiCo from $158.00 to $153.00 and set an “overweight” rating for the company in a report on Thursday. Finally, StockNews.com downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price 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.