Ritholtz Wealth Management Sells 37,370 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Ritholtz Wealth Management decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 65.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,071 shares of the company’s stock after selling 37,370 shares during the period. Ritholtz Wealth Management’s holdings in PepsiCo were worth $3,409,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Proquility Private Wealth Partners LLC grew its holdings in shares of PepsiCo by 1.1% during the 4th quarter. Proquility Private Wealth Partners LLC now owns 5,260 shares of the company’s stock worth $950,000 after purchasing an additional 57 shares in the last quarter. Amplius Wealth Advisors LLC grew its holdings in shares of PepsiCo by 2.8% during the 4th quarter. Amplius Wealth Advisors LLC now owns 2,241 shares of the company’s stock worth $381,000 after purchasing an additional 60 shares in the last quarter. Darwin Wealth Management LLC grew its holdings in shares of PepsiCo by 2.7% during the 3rd quarter. Darwin Wealth Management LLC now owns 2,345 shares of the company’s stock worth $397,000 after purchasing an additional 61 shares in the last quarter. Sugarloaf Wealth Management LLC grew its holdings in shares of PepsiCo by 2.6% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 2,420 shares of the company’s stock worth $411,000 after purchasing an additional 61 shares in the last quarter. Finally, Cassia Capital Partners LLC boosted its stake in PepsiCo by 1.5% in the third quarter. Cassia Capital Partners LLC now owns 4,143 shares of the company’s stock valued at $702,000 after buying an additional 63 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on PEP shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $180.00 price objective on shares of PepsiCo in a research note on Monday, February 12th. Wedbush reaffirmed an “outperform” rating and issued a $195.00 price objective on shares of PepsiCo in a research note on Friday, February 9th. Deutsche Bank Aktiengesellschaft raised their price objective on PepsiCo from $181.00 to $184.00 and gave the company a “hold” rating in a research note on Friday, February 9th. StockNews.com lowered PepsiCo from a “buy” rating to a “hold” rating in a research note on Monday, February 12th. Finally, Barclays raised their price objective on PepsiCo from $179.00 to $183.00 and gave the company an “overweight” rating in a research note on Tuesday, February 13th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $187.77.

PepsiCo Trading Up 0.8 %

Shares of PEP traded up $1.44 during mid-day trading on Thursday, reaching $175.01. 5,710,410 shares of the company were exchanged, compared to its average volume of 5,942,093. PepsiCo, Inc. has a 52 week low of $155.83 and a 52 week high of $196.88. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.68 and a current ratio of 0.85. The stock has a market capitalization of $240.55 billion, a PE ratio of 26.64, a PEG ratio of 2.70 and a beta of 0.53. The business has a 50 day simple moving average of $168.10 and a two-hundred day simple moving average of $167.99.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Friday, February 9th. The company reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. PepsiCo had a return on equity of 58.03% and a net margin of 9.92%. The company had revenue of $27.84 billion during the quarter, compared to the consensus estimate of $28.40 billion. During the same period last year, the company earned $1.67 earnings per share. The firm’s revenue was down .6% compared to the same quarter last year. On average, analysts predict that PepsiCo, Inc. will post 8.15 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, April 1st. Shareholders of record on Friday, March 1st will be issued a $1.265 dividend. The ex-dividend date of this dividend is Thursday, February 29th. This represents a $5.06 dividend on an annualized basis and a yield of 2.89%. PepsiCo’s payout ratio is currently 77.02%.

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.