Western Wealth Management LLC Sells 10,970 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Western Wealth Management LLC lowered its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 84.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,073 shares of the company’s stock after selling 10,970 shares during the period. Western Wealth Management LLC’s holdings in PepsiCo were worth $315,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Collier Financial purchased a new stake in PepsiCo in the fourth quarter worth approximately $28,000. WealthTrak Capital Management LLC purchased a new position in shares of PepsiCo in the 4th quarter worth $28,000. Creative Capital Management Investments LLC bought a new stake in shares of PepsiCo in the fourth quarter worth $30,000. Prudent Man Investment Management Inc. purchased a new stake in PepsiCo during the fourth quarter valued at $30,000. Finally, Measured Risk Portfolios Inc. bought a new position in PepsiCo in the fourth quarter valued at about $31,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. HSBC cut their price target on PepsiCo from $186.00 to $170.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Evercore ISI set a $140.00 target price on shares of PepsiCo in a report on Thursday, April 24th. CICC Research reiterated a “market perform” rating on shares of PepsiCo in a research report on Friday, February 7th. Dbs Bank downgraded shares of PepsiCo from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 9th. Finally, Morgan Stanley decreased their target price on PepsiCo from $168.00 to $153.00 and set an “equal weight” rating on the stock in a report on Friday, April 25th. One equities research 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 presently has a consensus rating of “Hold” and a consensus target price of $160.69.

PepsiCo Stock Performance

Shares of NASDAQ PEP opened at $129.34 on Friday. The company has a market cap of $177.34 billion, a P/E ratio of 18.61, a P/E/G ratio of 3.09 and a beta of 0.47. PepsiCo, Inc. has a 52-week low of $127.75 and a 52-week high of $180.91. 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’s fifty day moving average is $139.53 and its two-hundred day moving average is $148.42.

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

PepsiCo Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be given 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 dividend yield of 4.40%. The ex-dividend date of this dividend is Friday, June 6th. PepsiCo’s dividend payout ratio is currently 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.