Spinnaker Trust Sells 413 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Spinnaker Trust decreased its position in PepsiCo, Inc. (NASDAQ:PEP) by 1.3% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 31,297 shares of the company’s stock after selling 413 shares during the period. Spinnaker Trust’s holdings in PepsiCo were worth $5,315,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. LFA Lugano Financial Advisors SA raised its holdings in PepsiCo by 80.5% during 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 in the last quarter. Life Planning Partners Inc acquired a new stake in shares of PepsiCo in the 4th quarter valued at approximately $34,000. Naples Money Management LLC bought a new position in shares of PepsiCo in the fourth quarter valued at $36,000. Criterion Capital Advisors LLC acquired a new position in PepsiCo during the fourth quarter worth $39,000. Finally, Avion Wealth raised its position in PepsiCo by 61.7% during the fourth quarter. Avion Wealth now owns 241 shares of the company’s stock worth $41,000 after acquiring an additional 92 shares in the last quarter. 73.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PEP. JPMorgan Chase & Co. lifted their price objective on shares of PepsiCo from $178.00 to $181.00 and gave the company a “neutral” rating in a research report on Wednesday. Wedbush reiterated an “outperform” rating and set a $195.00 price target on shares of PepsiCo in a report on Tuesday. Barclays upped their price objective on PepsiCo from $184.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday. Jefferies Financial Group lifted their target price on PepsiCo from $199.00 to $209.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on PepsiCo from $181.00 to $184.00 and gave the company a “hold” rating in a research note on Friday, February 9th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $187.42.

PepsiCo Stock Performance

NASDAQ PEP traded down $1.10 on Friday, reaching $175.58. The stock had a trading volume of 4,471,941 shares, compared to its average volume of 5,855,305. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.86 and a quick ratio of 0.68. The company has a market cap of $241.39 billion, a P/E ratio of 26.40, a price-to-earnings-growth ratio of 2.80 and a beta of 0.53. The firm has a fifty day moving average of $169.40 and a two-hundred day moving average of $167.86. PepsiCo, Inc. has a 1-year low of $155.83 and a 1-year high of $196.88.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $1.61 EPS for the quarter, beating the consensus estimate of $1.52 by $0.09. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The business had revenue of $18.25 billion for the quarter, compared to the consensus estimate of $18.08 billion. PepsiCo’s revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.50 earnings per share. On average, equities research analysts anticipate that PepsiCo, Inc. will post 8.16 EPS for the current year.

PepsiCo Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were paid a $1.265 dividend. This represents a $5.06 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend was Thursday, February 29th. PepsiCo’s dividend payout ratio (DPR) is currently 76.09%.

PepsiCo Company 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.