Addison Advisors LLC Sells 1,591 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Addison Advisors LLC cut its stake in PepsiCo, Inc. (NASDAQ:PEP) by 28.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,100 shares of the company’s stock after selling 1,591 shares during the quarter. Addison Advisors LLC’s holdings in PepsiCo were worth $623,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. BankPlus Trust Department purchased a new position in shares of PepsiCo in the 4th quarter valued at $1,036,000. GHE LLC increased its holdings in shares of PepsiCo by 5.6% in the 4th quarter. GHE LLC now owns 12,799 shares of the company’s stock valued at $1,946,000 after acquiring an additional 682 shares during the period. Rothschild Investment LLC grew its stake in PepsiCo by 1.3% during the 4th quarter. Rothschild Investment LLC now owns 15,795 shares of the company’s stock worth $2,402,000 after buying an additional 202 shares during the last quarter. RWC Asset Management LLP grew its stake in PepsiCo by 4.3% during the 4th quarter. RWC Asset Management LLP now owns 212,793 shares of the company’s stock worth $32,357,000 after buying an additional 8,752 shares during the last quarter. Finally, Waverton Investment Management Ltd grew its stake in PepsiCo by 7.2% during the 4th quarter. Waverton Investment Management Ltd now owns 274,611 shares of the company’s stock worth $41,756,000 after buying an additional 18,500 shares during the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Stock Performance

Shares of PEP stock opened at $153.85 on Tuesday. The stock has a market capitalization of $211.01 billion, a PE ratio of 22.14, a price-to-earnings-growth ratio of 3.09 and a beta of 0.54. PepsiCo, Inc. has a 52-week low of $141.51 and a 52-week high of $183.41. The stock’s 50-day moving average price is $148.61 and its 200 day moving average price is $161.98. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results 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. 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 quarter in the previous year, the firm posted $1.78 EPS. The firm’s revenue for the quarter was down .2% on a year-over-year basis. As a group, equities research analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a yield of 3.52%. The ex-dividend date of this dividend is Friday, March 7th. PepsiCo’s payout ratio is 77.99%.

Analysts Set New Price Targets

Several analysts have weighed in on PEP shares. StockNews.com downgraded PepsiCo from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Piper Sandler began coverage on PepsiCo in a report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price objective for the company. Barclays reduced their price target on PepsiCo from $158.00 to $153.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. JPMorgan Chase & Co. reduced their price target on PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a report on Friday, January 24th. Finally, BNP Paribas reduced their price target on PepsiCo from $162.00 to $160.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $171.47.

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.