ProVise Management Group LLC Trims Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

ProVise Management Group LLC cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 6.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,527 shares of the company’s stock after selling 1,428 shares during the period. ProVise Management Group LLC’s holdings in PepsiCo were worth $3,273,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Collier Financial purchased a new position in shares of PepsiCo during the 4th quarter worth approximately $28,000. Creative Capital Management Investments LLC purchased a new position in shares of PepsiCo during the 4th quarter worth approximately $30,000. Legacy Investment Solutions LLC purchased a new position in shares of PepsiCo during the 3rd quarter worth approximately $31,000. Bay Harbor Wealth Management LLC purchased a new position in shares of PepsiCo during the 4th quarter worth approximately $34,000. Finally, Human Investing LLC acquired a new stake in shares of PepsiCo in the 4th quarter worth approximately $39,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Price Performance

PEP stock opened at $148.99 on Wednesday. PepsiCo, Inc. has a 52-week low of $141.51 and a 52-week high of $183.41. The stock’s fifty day simple moving average is $148.94 and its 200-day simple moving average is $159.58. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. The stock has a market capitalization of $204.34 billion, a price-to-earnings ratio of 21.44, a price-to-earnings-growth ratio of 3.09 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last issued its earnings results 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. 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 quarterly revenue was down .2% on a year-over-year basis. During the same period last year, the company posted $1.78 EPS. Equities research 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 will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.64%. The ex-dividend date is Friday, March 7th. PepsiCo’s dividend payout ratio (DPR) is presently 77.99%.

Analyst Upgrades and Downgrades

PEP has been the topic of a number of research reports. StockNews.com cut PepsiCo from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Evercore ISI lowered their price target on PepsiCo from $180.00 to $160.00 in a report on Tuesday, February 4th. Morgan Stanley lowered their price target on PepsiCo from $185.00 to $168.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft lowered their price target on PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. Finally, Royal Bank of Canada started coverage on PepsiCo in a report on Tuesday, February 4th. They issued a $172.00 price target on the stock. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $169.88.

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.