Pacific Global Investment Management Co. Sells 32,509 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Pacific Global Investment Management Co. decreased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 95.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,477 shares of the company’s stock after selling 32,509 shares during the period. Pacific Global Investment Management Co.’s holdings in PepsiCo were worth $225,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in PEP. Paulson Wealth Management Inc. grew its position in shares of PepsiCo by 2.1% in the third quarter. Paulson Wealth Management Inc. now owns 2,986 shares of the company’s stock valued at $508,000 after purchasing an additional 60 shares in the last quarter. Demars Financial Group LLC raised its position in PepsiCo by 1.1% in the third quarter. Demars Financial Group LLC now owns 5,721 shares of the company’s stock valued at $973,000 after purchasing an additional 62 shares during the period. Tcfg Wealth Management LLC grew its holdings in shares of PepsiCo by 3.5% during the 4th quarter. Tcfg Wealth Management LLC now owns 1,938 shares of the company’s stock worth $295,000 after purchasing an additional 66 shares during the period. BIP Wealth LLC increased its position in shares of PepsiCo by 1.9% during the 3rd quarter. BIP Wealth LLC now owns 3,601 shares of the company’s stock worth $612,000 after purchasing an additional 67 shares during the last quarter. Finally, Lincoln Capital LLC raised its stake in shares of PepsiCo by 0.4% in the 4th quarter. Lincoln Capital LLC now owns 16,808 shares of the company’s stock valued at $2,556,000 after acquiring an additional 70 shares during the period. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Citigroup decreased 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. Piper Sandler started coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price target on the stock. Royal Bank of Canada initiated coverage on shares of PepsiCo in a report on Tuesday, February 4th. They issued a $172.00 price objective for the company. Evercore ISI reduced their target price on shares of PepsiCo from $180.00 to $160.00 in a report on Tuesday, February 4th. Finally, Morgan Stanley dropped their price target on shares of PepsiCo from $185.00 to $168.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $171.47.

PepsiCo Stock Up 1.0 %

Shares of NASDAQ PEP opened at $153.47 on Monday. The business has a 50-day moving average price of $148.59 and a 200 day moving average price of $161.44. The stock has a market cap of $210.48 billion, a PE ratio of 22.08, a price-to-earnings-growth ratio of 3.09 and a beta of 0.54. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. PepsiCo, Inc. has a 52-week low of $141.51 and a 52-week high of $183.41.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.02. The business 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 revenue was down .2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.78 earnings per share. Equities research analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Announces Dividend

The firm also recently disclosed 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 3.53%. PepsiCo’s dividend payout ratio 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.