First Horizon Advisors Inc. Sells 560 Shares of PepsiCo, Inc. (NASDAQ:PEP)

First Horizon Advisors Inc. cut its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 0.9% during the 4th quarter, HoldingsChannel reports. The fund owned 62,365 shares of the company’s stock after selling 560 shares during the quarter. First Horizon Advisors Inc.’s holdings in PepsiCo were worth $9,483,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Highline Wealth Partners LLC bought a new position in shares of PepsiCo during the third quarter worth approximately $28,000. Collier Financial acquired a new stake in PepsiCo during the fourth quarter worth approximately $28,000. Creative Capital Management Investments LLC bought a new position in PepsiCo during the 4th quarter worth $30,000. Legacy Investment Solutions LLC acquired a new position in PepsiCo in the 3rd quarter valued at $31,000. Finally, Rakuten Securities Inc. lifted its position in shares of 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 acquiring an additional 96 shares during the period. 73.07% of the stock is owned by institutional investors.

PepsiCo Price Performance

PEP stock opened at $153.50 on Friday. The company has a market capitalization of $210.53 billion, a P/E ratio of 22.09, a PEG ratio of 3.09 and a beta of 0.54. The company has a fifty day moving average price of $148.66 and a 200-day moving average price of $162.18. 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 52-week low of $141.51 and a 52-week high of $183.41.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, topping 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 business had revenue of $27.78 billion during the quarter, compared to analyst estimates of $27.89 billion. During the same period last year, the company earned $1.78 EPS. PepsiCo’s revenue for the quarter was down .2% compared to the same quarter last year. As a group, equities analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be issued a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.53%. The ex-dividend date is Friday, March 7th. PepsiCo’s payout ratio is presently 77.99%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on PEP shares. HSBC decreased their price target on PepsiCo from $186.00 to $170.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. Barclays dropped their target price on shares of PepsiCo from $158.00 to $153.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. TD Cowen reduced their target price on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Piper Sandler assumed coverage on PepsiCo in a report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price target for the company. Finally, UBS Group reduced their price objective on PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average 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.