Evernest Financial Advisors LLC Has $670,000 Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Evernest Financial Advisors LLC cut its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 10.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,407 shares of the company’s stock after selling 533 shares during the period. Evernest Financial Advisors LLC’s holdings in PepsiCo were worth $670,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. International Assets Investment Management LLC grew its position in shares of PepsiCo by 17,113.0% in the third quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock valued at $547,626,000 after purchasing an additional 3,201,676 shares during the last quarter. State Street Corp grew its holdings in PepsiCo by 5.1% in the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock valued at $9,738,429,000 after buying an additional 2,775,679 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of PepsiCo by 21.1% during the third quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock worth $2,293,049,000 after buying an additional 2,264,445 shares during the last quarter. Swedbank AB boosted its position in shares of PepsiCo by 211.4% in the third quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock valued at $398,847,000 after acquiring an additional 1,592,343 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of PepsiCo by 5.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock worth $3,632,413,000 after acquiring an additional 1,125,059 shares during the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Stock Performance

NASDAQ:PEP opened at $151.90 on Friday. The stock has a market capitalization of $208.41 billion, a P/E ratio of 22.40, a price-to-earnings-growth ratio of 2.91 and a beta of 0.54. PepsiCo, Inc. has a 1 year low of $141.51 and a 1 year high of $183.41. The firm has a 50 day moving average of $153.51 and a 200-day moving average of $165.07. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were paid a $1.355 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.57%. PepsiCo’s dividend payout ratio (DPR) is presently 79.94%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PEP. Barclays reduced their price target on shares of PepsiCo from $183.00 to $158.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $172.00 target price on shares of PepsiCo in a research note on Wednesday. Wells Fargo & Company cut their price target on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. cut their target price on PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a research note on Friday, January 24th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $176.73.

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.