True Wealth Design LLC Trims Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

True Wealth Design LLC cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 20.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,082 shares of the company’s stock after selling 278 shares during the quarter. True Wealth Design LLC’s holdings in PepsiCo were worth $165,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PEP. Tallon Kerry Patrick purchased a new position in shares of PepsiCo in the 4th quarter worth about $224,000. Chemistry Wealth Management LLC raised its holdings in shares of PepsiCo by 10.7% in the 4th quarter. Chemistry Wealth Management LLC now owns 2,301 shares of the company’s stock worth $350,000 after purchasing an additional 222 shares during the period. Walker Asset Management LLC raised its holdings in shares of PepsiCo by 6.4% in the 4th quarter. Walker Asset Management LLC now owns 2,097 shares of the company’s stock worth $319,000 after purchasing an additional 127 shares during the period. Grant GrossMendelsohn LLC raised its holdings in shares of PepsiCo by 5.5% during the 4th quarter. Grant GrossMendelsohn LLC now owns 1,778 shares of the company’s stock valued at $273,000 after buying an additional 93 shares during the period. Finally, Brand Asset Management Group Inc. raised its holdings in shares of PepsiCo by 7.9% during the 4th quarter. Brand Asset Management Group Inc. now owns 2,535 shares of the company’s stock valued at $385,000 after buying an additional 185 shares during the period. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on PEP shares. 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. HSBC dropped their target price on PepsiCo from $186.00 to $170.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft dropped their target price on PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. Barclays dropped their target price on PepsiCo from $143.00 to $135.00 and set an “equal weight” rating on the stock in a report on Monday, April 28th. Finally, Evercore ISI set a $140.00 price objective on PepsiCo in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $160.69.

PepsiCo Price Performance

Shares of NASDAQ PEP opened at $131.98 on Friday. PepsiCo, Inc. has a twelve month low of $127.87 and a twelve month high of $182.13. 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 company has a market capitalization of $180.96 billion, a price-to-earnings ratio of 18.99, a price-to-earnings-growth ratio of 3.09 and a beta of 0.47. The business has a 50 day simple moving average of $141.38 and a 200-day simple moving average of $149.54.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Thursday, April 24th. The company reported $1.48 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.01). The company had revenue of $17.92 billion for the quarter, compared to the consensus estimate of $17.81 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. PepsiCo’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.61 earnings per share. As a group, equities research analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be paid a dividend of $1.4225 per share. This is an increase from PepsiCo’s previous quarterly dividend of $1.36. This represents a $5.69 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date is Friday, June 6th. PepsiCo’s dividend payout ratio is presently 83.68%.

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.