Estabrook Capital Management Has $2.48 Million Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Estabrook Capital Management lowered its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,298 shares of the company’s stock after selling 536 shares during the quarter. Estabrook Capital Management’s holdings in PepsiCo were worth $2,478,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. WealthTrak Capital Management LLC purchased a new stake in PepsiCo in the fourth quarter worth $28,000. Collier Financial purchased a new stake in PepsiCo during the fourth quarter valued at about $28,000. Creative Capital Management Investments LLC bought a new position in PepsiCo during the fourth quarter worth about $30,000. Prudent Man Investment Management Inc. purchased a new position in shares of PepsiCo in the fourth quarter worth about $30,000. Finally, Summit Securities Group LLC bought a new stake in shares of PepsiCo in the fourth quarter valued at approximately $33,000. Institutional investors own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PEP. UBS Group dropped their price objective on PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. HSBC reduced their target price on PepsiCo from $186.00 to $170.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. TD Cowen dropped their price objective on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Jefferies Financial Group lowered PepsiCo from a “buy” rating to a “hold” rating and dropped their price target for the stock from $171.00 to $170.00 in a research note on Wednesday, March 12th. Finally, JPMorgan Chase & Co. decreased their price objective on PepsiCo from $183.00 to $165.00 and set a “neutral” rating on the stock in a report on Friday, January 24th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $169.88.

PepsiCo Trading Down 2.0 %

NASDAQ PEP opened at $140.30 on Wednesday. PepsiCo, Inc. has a one year low of $137.57 and a one year high of $183.41. The firm has a 50 day simple moving average of $148.70 and a 200-day simple moving average of $156.39. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82. The firm has a market cap of $192.40 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 3.09 and a beta of 0.49.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.02. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The company had revenue of $27.78 billion for the quarter, compared to the consensus estimate of $27.89 billion. During the same period in the prior year, the firm posted $1.78 EPS. The company’s quarterly revenue was down .2% compared to the same quarter last year. Equities research analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 7th were given a dividend of $1.355 per share. The ex-dividend date was Friday, March 7th. This represents a $5.42 dividend on an annualized basis and a yield of 3.86%. PepsiCo’s dividend payout ratio (DPR) is 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.