Mitchell Sinkler & Starr PA Sells 4,430 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Mitchell Sinkler & Starr PA reduced its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 8.5% in the fourth quarter, Holdings Channel reports. The firm owned 47,872 shares of the company’s stock after selling 4,430 shares during the period. PepsiCo comprises approximately 1.9% of Mitchell Sinkler & Starr PA’s holdings, making the stock its 18th biggest position. Mitchell Sinkler & Starr PA’s holdings in PepsiCo were worth $7,279,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Collier Financial purchased a new position in shares of PepsiCo during the fourth quarter worth about $28,000. WealthTrak Capital Management LLC bought a new position in shares of PepsiCo during the 4th quarter valued at $28,000. Creative Capital Management Investments LLC bought a new stake in PepsiCo during the 4th quarter valued at $30,000. Legacy Investment Solutions LLC bought a new stake in PepsiCo in the 3rd quarter worth $31,000. Finally, Bay Harbor Wealth Management LLC purchased a new stake in shares of PepsiCo during the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Down 0.3 %

PEP opened at $149.27 on Friday. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41. 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 firm has a 50-day simple moving average of $149.25 and a two-hundred day simple moving average of $158.17. The company has a market capitalization of $204.72 billion, a PE ratio of 21.48, 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 (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 for the quarter, compared to analysts’ expectations of $27.89 billion. During the same period in the prior year, the firm earned $1.78 EPS. The company’s revenue for the quarter was down .2% on a year-over-year basis. Analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be issued a dividend of $1.355 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $5.42 annualized dividend and a yield of 3.63%. PepsiCo’s payout ratio is presently 77.99%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. CICC Research reiterated a “market perform” rating on shares of PepsiCo in a research note on Friday, February 7th. 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 research report on Wednesday, February 5th. Wells Fargo & Company dropped their target price on PepsiCo from $155.00 to $150.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. Evercore ISI lowered their price target on PepsiCo from $180.00 to $160.00 in a research report on Tuesday, February 4th. Finally, Jefferies Financial Group downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and cut their price objective for the company from $171.00 to $170.00 in a research report on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $169.88.

About PepsiCo

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.