Kanawha Capital Management LLC Sells 1,217 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Kanawha Capital Management LLC decreased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 127,209 shares of the company’s stock after selling 1,217 shares during the quarter. PepsiCo accounts for about 1.5% of Kanawha Capital Management LLC’s investment portfolio, making the stock its 18th biggest position. Kanawha Capital Management LLC’s holdings in PepsiCo were worth $19,343,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of PEP. Cross Staff Investments Inc boosted its holdings in shares of PepsiCo by 0.9% in the 3rd quarter. Cross Staff Investments Inc now owns 7,080 shares of the company’s stock valued at $1,204,000 after purchasing an additional 60 shares during the last quarter. Paulson Wealth Management Inc. boosted its holdings in PepsiCo by 2.1% in the 3rd quarter. Paulson Wealth Management Inc. now owns 2,986 shares of the company’s stock worth $508,000 after acquiring an additional 60 shares during the period. LCM Capital Management Inc boosted its stake in shares of PepsiCo by 0.8% in the third quarter. LCM Capital Management Inc now owns 7,573 shares of the company’s stock valued at $1,288,000 after purchasing an additional 62 shares during the period. Demars Financial Group LLC grew its holdings in PepsiCo by 1.1% during the 3rd quarter. Demars Financial Group LLC now owns 5,721 shares of the company’s stock valued at $973,000 after purchasing an additional 62 shares in the last quarter. Finally, Sigma Investment Counselors Inc. lifted its holdings in PepsiCo by 1.6% in the 3rd quarter. Sigma Investment Counselors Inc. now owns 4,310 shares of the company’s stock worth $733,000 after buying an additional 66 shares in the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Stock Performance

Shares of PEP opened at $144.58 on Friday. The company has a market cap of $198.29 billion, a price-to-earnings ratio of 20.80, a price-to-earnings-growth ratio of 2.89 and a beta of 0.54. The firm has a fifty day moving average of $150.41 and a 200-day moving average of $163.54. PepsiCo, Inc. has a 1 year low of $141.51 and a 1 year high of $183.41. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.70 and a current ratio of 0.82.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, beating 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 firm had revenue of $27.78 billion for the quarter, compared to analysts’ expectations of $27.89 billion. During the same period last year, the firm earned $1.78 EPS. The firm’s revenue was down .2% compared to the same quarter last year. As a group, equities analysts anticipate that PepsiCo, Inc. will post 8.34 earnings per share for the current year.

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be issued a dividend of $1.355 per share. The ex-dividend date is Friday, March 7th. This represents a $5.42 annualized dividend and a yield of 3.75%. PepsiCo’s payout ratio is 77.99%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PEP shares. Piper Sandler assumed coverage on PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 target price on the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. CICC Research reiterated a “market perform” rating on shares of PepsiCo in a research note on Friday, February 7th. Citigroup dropped their price target on shares of PepsiCo from $195.00 to $170.00 and set a “buy” rating for the company in a research note on Wednesday, February 5th. Finally, BNP Paribas reduced their price objective on shares of PepsiCo from $162.00 to $160.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $171.47.

PepsiCo Company 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.