PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Legend Financial Advisors Inc.

Legend Financial Advisors Inc. decreased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 46.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 711 shares of the company’s stock after selling 616 shares during the period. Legend Financial Advisors Inc.’s holdings in PepsiCo were worth $108,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of PEP. Global Wealth Strategies & Associates lifted its holdings in shares of PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after purchasing an additional 59 shares during the last quarter. Highline Wealth Partners LLC acquired a new position in shares of PepsiCo during the third quarter valued at $28,000. Legacy Investment Solutions LLC bought a new position in shares of PepsiCo during the third quarter worth about $31,000. Mattson Financial Services LLC bought a new stake in PepsiCo in the 2nd quarter valued at about $34,000. Finally, Rakuten Securities Inc. boosted its stake in PepsiCo by 93.2% during the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after purchasing an additional 96 shares during the period. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Stock Down 0.6 %

Shares of NASDAQ:PEP traded down $0.87 during trading on Tuesday, reaching $145.40. 7,468,356 shares of the company traded hands, compared to its average volume of 6,753,714. PepsiCo, Inc. has a 1-year low of $145.34 and a 1-year high of $183.41. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The firm has a market cap of $199.49 billion, a P/E ratio of 21.45, a price-to-earnings-growth ratio of 2.94 and a beta of 0.54. The firm has a fifty day simple moving average of $159.04 and a 200 day simple moving average of $167.12.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.01. The company had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The business’s revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.25 EPS. Analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were issued a dividend of $1.355 per share. The ex-dividend date was Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.73%. PepsiCo’s dividend payout ratio is currently 79.94%.

Analysts Set New Price Targets

PEP has been the subject of several analyst reports. Wells Fargo & Company reduced their price objective on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating for the company in a research report on Tuesday. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Barclays decreased their target price on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Finally, Morgan Stanley cut shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective for the company. in a report on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, PepsiCo currently has a consensus rating of “Hold” and a consensus target price of $182.29.

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.