Fairhaven Wealth Management LLC Sells 334 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Fairhaven Wealth Management LLC lowered its stake in PepsiCo, Inc. (NASDAQ:PEP) by 1.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,227 shares of the company’s stock after selling 334 shares during the quarter. PepsiCo makes up approximately 1.0% of Fairhaven Wealth Management LLC’s investment portfolio, making the stock its 20th largest position. Fairhaven Wealth Management LLC’s holdings in PepsiCo were worth $3,228,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in PEP. State Street Corp increased its holdings in PepsiCo by 5.1% in the third quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after purchasing an additional 2,775,679 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of PepsiCo by 21.1% in the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock valued at $2,293,049,000 after acquiring an additional 2,264,445 shares in the last quarter. Swedbank AB raised its holdings in shares of PepsiCo by 211.4% during the third quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock valued at $398,847,000 after purchasing an additional 1,592,343 shares during the period. Van ECK Associates Corp boosted its holdings in PepsiCo by 360.0% in the fourth quarter. Van ECK Associates Corp now owns 1,697,742 shares of the company’s stock worth $258,158,000 after acquiring an additional 1,328,672 shares in the last quarter. Finally, Vontobel Holding Ltd. grew its stake in PepsiCo by 62.4% in the fourth quarter. Vontobel Holding Ltd. now owns 3,014,101 shares of the company’s stock valued at $458,324,000 after acquiring an additional 1,157,835 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on PEP shares. Morgan Stanley reduced their price objective on shares of PepsiCo from $185.00 to $168.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. Wells Fargo & Company cut their price target on PepsiCo from $155.00 to $150.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. Barclays dropped their target price on PepsiCo from $158.00 to $153.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. UBS Group lowered their price target on PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Finally, CICC Research reaffirmed a “market perform” rating on shares of PepsiCo in a report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, PepsiCo presently has a consensus rating of “Hold” and a consensus target price of $171.47.

PepsiCo Stock Up 0.2 %

Shares of NASDAQ PEP opened at $153.85 on Tuesday. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65. The stock has a market capitalization of $211.01 billion, a PE ratio of 22.14, a P/E/G ratio of 3.09 and a beta of 0.54. PepsiCo, Inc. has a one year low of $141.51 and a one year high of $183.41. The business’s fifty day moving average price is $148.61 and its 200-day moving average price is $161.98.

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

PepsiCo Dividend Announcement

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