Washington Trust Advisors Inc. Reduces Stake in PepsiCo, Inc. (NASDAQ:PEP)

Washington Trust Advisors Inc. lowered its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 2.1% during the fourth quarter, HoldingsChannel reports. The fund owned 127,919 shares of the company’s stock after selling 2,732 shares during the period. PepsiCo accounts for about 1.6% of Washington Trust Advisors Inc.’s investment portfolio, making the stock its 19th biggest holding. Washington Trust Advisors Inc.’s holdings in PepsiCo were worth $19,451,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Collier Financial acquired a new stake in PepsiCo during the 4th quarter worth approximately $28,000. Legacy Investment Solutions LLC acquired a new stake in PepsiCo during the 3rd quarter worth approximately $31,000. Rakuten Securities Inc. lifted its position in PepsiCo by 93.2% during the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after acquiring an additional 96 shares during the period. Creative Capital Management Investments LLC acquired a new stake in shares of PepsiCo in the 4th quarter valued at approximately $30,000. Finally, Bay Harbor Wealth Management LLC acquired a new stake in shares of PepsiCo in the 4th quarter valued at approximately $34,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

PEP has been the subject of several recent analyst reports. Piper Sandler initiated coverage on PepsiCo in a report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price target for the company. HSBC reduced their price target on PepsiCo from $186.00 to $170.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. Morgan Stanley reduced their price objective on PepsiCo from $185.00 to $168.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. Barclays reduced their price objective on PepsiCo from $158.00 to $153.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Finally, StockNews.com cut PepsiCo from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $171.47.

PepsiCo Stock Performance

PepsiCo stock opened at $153.88 on Thursday. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82. The stock has a fifty day moving average of $148.73 and a two-hundred day moving average of $161.14. The company has a market capitalization of $211.05 billion, a price-to-earnings ratio of 22.14, a PEG ratio of 3.09 and a beta of 0.52. PepsiCo, Inc. has a fifty-two week low of $141.51 and a fifty-two week high of $183.41.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, beating analysts’ consensus estimates 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 business’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.78 earnings per share. On average, analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be given a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date of this dividend is Friday, March 7th. PepsiCo’s dividend payout ratio is currently 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.