OneAscent Wealth Management LLC Trims Stake in PepsiCo, Inc. (NASDAQ:PEP)

OneAscent Wealth Management LLC decreased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 7.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,536 shares of the company’s stock after selling 426 shares during the quarter. OneAscent Wealth Management LLC’s holdings in PepsiCo were worth $842,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Collier Financial purchased a new position in PepsiCo in the 4th quarter valued at about $28,000. Creative Capital Management Investments LLC purchased a new position in shares of PepsiCo during the fourth quarter valued at approximately $30,000. Legacy Investment Solutions LLC acquired a new stake in PepsiCo during the third quarter worth approximately $31,000. Bay Harbor Wealth Management LLC purchased a new stake in PepsiCo in the 4th quarter worth approximately $34,000. Finally, Human Investing LLC acquired a new position in PepsiCo in the 4th quarter valued at $39,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Price Performance

Shares of PEP stock opened at $149.27 on Friday. The firm has a market cap of $204.72 billion, a P/E ratio of 21.48, a P/E/G ratio of 3.09 and a beta of 0.52. The firm has a fifty day moving average of $149.25 and a two-hundred day moving average of $158.17. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65. PepsiCo, Inc. has a 1-year low of $141.51 and a 1-year high of $183.41.

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

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a dividend of $1.355 per share. The ex-dividend date is Friday, March 7th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.63%. PepsiCo’s dividend payout ratio (DPR) is 77.99%.

Analysts Set New Price Targets

A number of brokerages have recently commented on PEP. Evercore ISI lowered their price objective on PepsiCo from $180.00 to $160.00 in a research report on Tuesday, February 4th. Piper Sandler started coverage on shares of PepsiCo in a research note on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price objective for the company. Barclays cut shares of PepsiCo from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $168.00 to $156.00 in a research report on Tuesday, March 18th. Citigroup cut their price target on shares of PepsiCo from $195.00 to $170.00 and set a “buy” rating on the stock in a research note on Wednesday, February 5th. Finally, StockNews.com downgraded PepsiCo from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $169.88.

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.