United Bank Decreases Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

United Bank trimmed its position in PepsiCo, Inc. (NASDAQ:PEP) by 6.0% during the 4th quarter, HoldingsChannel reports. The firm owned 1,593 shares of the company’s stock after selling 101 shares during the quarter. United Bank’s holdings in PepsiCo were worth $242,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PEP. Howard Capital Management Group LLC increased its position in shares of PepsiCo by 2.0% during the 3rd quarter. Howard Capital Management Group LLC now owns 4,568 shares of the company’s stock valued at $777,000 after purchasing an additional 90 shares during the last quarter. Fred Alger Management LLC lifted its stake in PepsiCo by 1.2% in the third quarter. Fred Alger Management LLC now owns 50,431 shares of the company’s stock worth $8,576,000 after purchasing an additional 589 shares during the last quarter. L.M. Kohn & Company raised its holdings in shares of PepsiCo by 1.7% in the third quarter. L.M. Kohn & Company now owns 17,262 shares of the company’s stock worth $2,935,000 after buying an additional 283 shares during the period. Encompass More Asset Management boosted its holdings in PepsiCo by 38.9% during the 3rd quarter. Encompass More Asset Management now owns 2,432 shares of the company’s stock valued at $414,000 after acquiring an additional 681 shares during the period. Finally, Cobblestone Capital Advisors LLC NY lifted its position in shares of PepsiCo by 1.6% during the third quarter. Cobblestone Capital Advisors LLC NY now owns 112,987 shares of the company’s stock worth $19,213,000 after purchasing an additional 1,797 shares during the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Stock Performance

NASDAQ:PEP opened at $149.27 on Friday. The company has a market cap of $204.72 billion, a P/E ratio of 21.48, a P/E/G ratio of 3.09 and a beta of 0.52. PepsiCo, Inc. has a twelve month low of $141.51 and a twelve month high of $183.41. The company’s 50-day moving average price is $149.25 and its 200-day moving average price is $158.03. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share 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 previous year, the firm posted $1.78 EPS. The business’s revenue for the quarter was down .2% compared to the same quarter last year. On average, sell-side analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.63%. PepsiCo’s dividend payout ratio is currently 77.99%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Piper Sandler assumed coverage on PepsiCo in a report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price target for the company. Barclays downgraded shares of PepsiCo from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $168.00 to $156.00 in a research report on Tuesday, March 18th. Morgan Stanley dropped their price objective on shares of PepsiCo from $185.00 to $168.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft reduced their price target on PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a research report on Wednesday, January 22nd. Finally, StockNews.com cut shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, PepsiCo currently has an average rating of “Hold” and a consensus target price of $169.88.

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.