Hazlett Burt & Watson Inc. Sells 366 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Hazlett Burt & Watson Inc. reduced its stake in PepsiCo, Inc. (NASDAQ:PEP) by 3.6% in the 4th quarter, Holdings Channel reports. The firm owned 9,851 shares of the company’s stock after selling 366 shares during the period. Hazlett Burt & Watson Inc.’s holdings in PepsiCo were worth $1,499,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. boosted its holdings in shares of PepsiCo by 104.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,705,574 shares of the company’s stock worth $259,350,000 after buying an additional 870,451 shares during the period. Hudson Valley Investment Advisors Inc. ADV grew its position in shares of PepsiCo by 12.8% in the fourth quarter. Hudson Valley Investment Advisors Inc. ADV now owns 41,580 shares of the company’s stock valued at $6,323,000 after purchasing an additional 4,712 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of PepsiCo by 11.0% in the third quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock worth $59,549,000 after purchasing an additional 34,633 shares during the period. IHT Wealth Management LLC boosted its stake in PepsiCo by 19.3% during the 3rd quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock valued at $5,493,000 after purchasing an additional 5,220 shares during the period. Finally, Guinness Asset Management LTD grew its holdings in PepsiCo by 5.2% in the 4th quarter. Guinness Asset Management LTD now owns 1,236,788 shares of the company’s stock valued at $188,031,000 after buying an additional 61,541 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

PEP has been the subject of several research reports. 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. Jefferies Financial Group lowered shares of PepsiCo from a “buy” rating to a “hold” rating and decreased their price target for the stock from $171.00 to $170.00 in a research report on Wednesday, March 12th. BNP Paribas reduced their target price on shares of PepsiCo from $162.00 to $160.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. UBS Group lowered their price target on PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Finally, Piper Sandler initiated coverage on PepsiCo in a research report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price objective for the company. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $169.88.

PepsiCo Stock Performance

NASDAQ PEP opened at $149.27 on Monday. PepsiCo, Inc. has a 1-year low of $141.51 and a 1-year high of $183.41. The company has a 50 day moving average of $149.25 and a 200-day moving average of $157.91. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05. The firm has a market cap of $204.72 billion, a price-to-earnings ratio of 21.48, a PEG 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, beating the consensus estimate of $1.94 by $0.02. The firm 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.78 EPS. On average, equities analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

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

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.