PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Gray Wealth Management Inc.

Gray Wealth Management Inc. trimmed its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 7.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,061 shares of the company’s stock after selling 157 shares during the quarter. Gray Wealth Management Inc.’s holdings in PepsiCo were worth $350,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Moneta Group Investment Advisors LLC increased its stake in shares of PepsiCo by 95,514.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 42,876,248 shares of the company’s stock valued at $7,746,023,000 after purchasing an additional 42,831,405 shares during the period. Morgan Stanley increased its position in PepsiCo by 21.0% in the 4th quarter. Morgan Stanley now owns 26,720,027 shares of the company’s stock valued at $4,827,240,000 after acquiring an additional 4,629,947 shares during the period. Charles Schwab Investment Management Inc. raised its stake in PepsiCo by 5.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 18,423,845 shares of the company’s stock valued at $3,121,736,000 after acquiring an additional 920,032 shares in the last quarter. Northern Trust Corp boosted its position in PepsiCo by 3.7% during the 3rd quarter. Northern Trust Corp now owns 16,878,022 shares of the company’s stock worth $2,859,812,000 after acquiring an additional 595,357 shares during the period. Finally, Norges Bank bought a new position in shares of PepsiCo in the fourth quarter worth $2,519,707,000. Institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PEP shares. Wedbush reaffirmed an “outperform” rating and issued a $195.00 price objective on shares of PepsiCo in a report on Friday, February 9th. Jefferies Financial Group upped their price target on shares of PepsiCo from $199.00 to $209.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Barclays boosted their target price on PepsiCo from $183.00 to $184.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. Citigroup raised PepsiCo from a “neutral” rating to a “buy” rating and increased their price target for the company from $180.00 to $195.00 in a research note on Monday, February 12th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $180.00 price objective on shares of PepsiCo in a report on Monday, February 12th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $186.92.

PepsiCo Trading Up 1.6 %

Shares of PEP traded up $2.79 during midday trading on Thursday, hitting $172.27. The stock had a trading volume of 5,265,635 shares, compared to its average volume of 5,719,607. PepsiCo, Inc. has a fifty-two week low of $155.83 and a fifty-two week high of $196.88. The business has a 50-day simple moving average of $168.58 and a two-hundred day simple moving average of $167.38. The company has a current ratio of 0.85, a quick ratio of 0.68 and a debt-to-equity ratio of 2.02. The firm has a market cap of $236.79 billion, a P/E ratio of 25.80, a price-to-earnings-growth ratio of 2.63 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Friday, February 9th. The company reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. The firm had revenue of $27.84 billion during the quarter, compared to analyst estimates of $28.40 billion. PepsiCo had a net margin of 9.92% and a return on equity of 58.03%. The company’s revenue was down .6% on a year-over-year basis. During the same quarter last year, the business posted $1.67 EPS. As a group, equities analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were given a dividend of $1.265 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $5.06 dividend on an annualized basis and a yield of 2.94%. PepsiCo’s payout ratio is presently 77.02%.

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.