PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Resonant Capital Advisors LLC

Resonant Capital Advisors LLC lessened its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.6% during the 4th quarter, Holdings Channel reports. The firm owned 19,565 shares of the company’s stock after selling 529 shares during the period. Resonant Capital Advisors LLC’s holdings in PepsiCo were worth $3,343,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. LFA Lugano Financial Advisors SA lifted its stake in PepsiCo by 80.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 157 shares of the company’s stock worth $27,000 after acquiring an additional 70 shares during the last quarter. Life Planning Partners Inc acquired a new stake in PepsiCo during the fourth quarter worth approximately $34,000. Avion Wealth raised its holdings in PepsiCo by 61.7% during the fourth quarter. Avion Wealth now owns 241 shares of the company’s stock worth $41,000 after purchasing an additional 92 shares in the last quarter. Financial Connections Group Inc. acquired a new stake in PepsiCo during the fourth quarter worth approximately $44,000. Finally, Pacific Center for Financial Services acquired a new stake in PepsiCo during the first quarter worth approximately $47,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Performance

NASDAQ:PEP traded up $1.80 during midday trading on Friday, reaching $174.07. The stock had a trading volume of 3,953,918 shares, compared to its average volume of 5,697,427. The firm has a fifty day simple moving average of $168.55 and a two-hundred day simple moving average of $167.42. PepsiCo, Inc. has a 12-month low of $155.83 and a 12-month high of $196.88. The company has a quick ratio of 0.68, a current ratio of 0.85 and a debt-to-equity ratio of 2.02. The stock has a market cap of $239.26 billion, a P/E ratio of 26.36, a P/E/G ratio of 2.66 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Friday, February 9th. The company reported $1.78 EPS for the quarter, topping the consensus estimate of $1.72 by $0.06. The company had revenue of $27.84 billion for the quarter, compared to analyst estimates of $28.40 billion. PepsiCo had a net margin of 9.92% and a return on equity of 58.03%. The business’s revenue was down .6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.67 EPS. On average, equities analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were given a dividend of $1.265 per share. The ex-dividend date was Thursday, February 29th. This represents a $5.06 annualized dividend and a dividend yield of 2.91%. PepsiCo’s payout ratio is currently 77.02%.

Analysts Set New Price Targets

A number of research firms have weighed in on PEP. Morgan Stanley raised shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price objective on the stock in a report on Monday, March 18th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $180.00 target price on shares of PepsiCo in a report on Monday, February 12th. Wedbush reaffirmed an “outperform” rating and issued a $195.00 target price on shares of PepsiCo in a report on Friday, February 9th. StockNews.com cut shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Monday, February 12th. Finally, Jefferies Financial Group lifted their target price on shares of PepsiCo from $199.00 to $209.00 and gave the company a “buy” rating in a report on Friday, April 5th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $186.92.

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.