Hoey Investments Inc. Sells 411 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Hoey Investments Inc. lowered its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 7.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,377 shares of the company’s stock after selling 411 shares during the quarter. Hoey Investments Inc.’s holdings in PepsiCo were worth $818,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of PepsiCo during the 4th quarter worth approximately $2,729,565,000. Raymond James Financial Inc. bought a new stake in PepsiCo during the fourth quarter worth $589,307,000. Charles Schwab Investment Management Inc. increased its stake in shares of PepsiCo by 18.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company’s stock valued at $3,834,504,000 after purchasing an additional 3,856,193 shares during the last quarter. State Street Corp raised its holdings in shares of PepsiCo by 5.1% during the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after buying an additional 2,775,679 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of PepsiCo by 21.1% during the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock worth $2,293,049,000 after buying an additional 2,264,445 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Deutsche Bank Aktiengesellschaft lowered their target price on PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. CICC Research reiterated a “market perform” rating on shares of PepsiCo in a research report on Friday, February 7th. Citigroup decreased their target price on shares of PepsiCo from $195.00 to $170.00 and set a “buy” rating on the stock in a research note on Wednesday, February 5th. Royal Bank of Canada began coverage on PepsiCo in a research note on Tuesday, February 4th. They issued a $172.00 price target for the company. Finally, Morgan Stanley lowered their target price on PepsiCo from $185.00 to $168.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $169.88.

PepsiCo Stock Down 0.3 %

PepsiCo stock opened at $149.27 on Monday. 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’s fifty day moving average price is $149.25 and its two-hundred day moving average price is $157.91. The firm has a market capitalization of $204.72 billion, a price-to-earnings ratio of 21.48, a price-to-earnings-growth ratio of 3.09 and a beta of 0.52. PepsiCo, Inc. has a 1-year low of $141.51 and a 1-year high of $183.41.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (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 company’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.78 EPS. On average, equities research analysts predict 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 paid a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a yield of 3.63%. The ex-dividend date of this dividend is Friday, March 7th. PepsiCo’s dividend payout ratio (DPR) 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.