Welch & Forbes LLC Decreases Stake in PepsiCo, Inc. (NASDAQ:PEP)

Welch & Forbes LLC cut its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 1.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 563,452 shares of the company’s stock after selling 5,476 shares during the quarter. PepsiCo comprises 1.1% of Welch & Forbes LLC’s investment portfolio, making the stock its 27th biggest holding. Welch & Forbes LLC’s holdings in PepsiCo were worth $85,679,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently modified their holdings of the company. Collier Financial acquired a new position in shares of PepsiCo in the fourth quarter worth $28,000. Legacy Investment Solutions LLC acquired a new position in shares of PepsiCo in the third quarter worth $31,000. Rakuten Securities Inc. raised its holdings in shares of PepsiCo by 93.2% in the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after acquiring an additional 96 shares during the last quarter. Creative Capital Management Investments LLC acquired a new position in shares of PepsiCo in the fourth quarter worth $30,000. Finally, Bay Harbor Wealth Management LLC acquired a new position in shares of PepsiCo in the fourth quarter worth $34,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Price Performance

PEP stock opened at $154.61 on Friday. PepsiCo, Inc. has a 1 year low of $141.51 and a 1 year high of $183.41. The stock has a 50-day simple moving average of $148.77 and a 200-day simple moving average of $161.10. 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 firm has a market cap of $212.05 billion, a P/E ratio of 22.25, a price-to-earnings-growth ratio of 3.09 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.94 by $0.02. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The firm had revenue of $27.78 billion during the quarter, compared to analyst estimates of $27.89 billion. During the same quarter last year, the firm earned $1.78 EPS. PepsiCo’s quarterly revenue was down .2% on a year-over-year basis. On average, equities analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

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 dividend of $1.355 per share. The ex-dividend date is Friday, March 7th. This represents a $5.42 dividend on an annualized basis and a yield of 3.51%. PepsiCo’s dividend payout ratio (DPR) is presently 77.99%.

Analyst Ratings Changes

Several research firms recently commented on PEP. BNP Paribas dropped their target price on PepsiCo from $162.00 to $160.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. Evercore ISI dropped their target price on PepsiCo from $180.00 to $160.00 in a research note on Tuesday, February 4th. Morgan Stanley dropped their target price on PepsiCo from $185.00 to $168.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. JPMorgan Chase & Co. dropped their target price on PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a research note on Friday, January 24th. Finally, TD Cowen dropped their target price on PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $172.35.

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.