Welch & Forbes LLC Cuts Stake in PepsiCo, Inc. (NASDAQ:PEP)

Welch & Forbes LLC reduced its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 591,301 shares of the company’s stock after selling 1,060 shares during the quarter. PepsiCo accounts for 1.5% of Welch & Forbes LLC’s portfolio, making the stock its 17th biggest holding. Welch & Forbes LLC’s holdings in PepsiCo were worth $100,427,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Amplius Wealth Advisors LLC lifted its stake in shares of PepsiCo by 2.8% in the fourth quarter. Amplius Wealth Advisors LLC now owns 2,241 shares of the company’s stock valued at $381,000 after purchasing an additional 60 shares during the period. Darwin Wealth Management LLC lifted its stake in shares of PepsiCo by 2.7% in the third quarter. Darwin Wealth Management LLC now owns 2,345 shares of the company’s stock valued at $397,000 after purchasing an additional 61 shares during the period. Sugarloaf Wealth Management LLC raised its position in PepsiCo by 2.6% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 2,420 shares of the company’s stock worth $411,000 after acquiring an additional 61 shares during the last quarter. SYM FINANCIAL Corp lifted its holdings in shares of PepsiCo by 2.7% in the fourth quarter. SYM FINANCIAL Corp now owns 2,290 shares of the company’s stock valued at $389,000 after purchasing an additional 61 shares in the last quarter. Finally, Capital Investment Counsel Inc lifted its holdings in shares of PepsiCo by 1.6% in the fourth quarter. Capital Investment Counsel Inc now owns 4,116 shares of the company’s stock valued at $699,000 after purchasing an additional 64 shares in the last quarter. 73.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on PEP shares. Barclays upped their price objective on shares of PepsiCo from $184.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of PepsiCo from $181.00 to $184.00 and gave the company a “hold” rating in a research note on Friday, February 9th. Argus downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Jefferies Financial Group upped their price target on shares of PepsiCo from $199.00 to $209.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Finally, Citigroup raised shares of PepsiCo from a “neutral” rating to a “buy” rating and upped their price target for the stock from $180.00 to $195.00 in a research report on Monday, February 12th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, PepsiCo presently has an average rating of “Moderate Buy” and a consensus price target of $187.42.

PepsiCo Stock Performance

Shares of PepsiCo stock traded down $0.33 during trading hours on Monday, reaching $175.82. The company’s stock had a trading volume of 3,576,177 shares, compared to its average volume of 5,716,585. The company’s 50 day simple moving average is $170.30 and its 200 day simple moving average is $168.57. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.68 and a current ratio of 0.86. PepsiCo, Inc. has a one year low of $155.83 and a one year high of $196.88. The stock has a market cap of $241.72 billion, a P/E ratio of 26.44, a price-to-earnings-growth ratio of 2.87 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $18.08 billion. During the same quarter last year, the company earned $1.50 EPS. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, analysts expect that PepsiCo, Inc. will post 8.16 EPS for the current fiscal year.

PepsiCo Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a dividend of $1.355 per share. This is a boost from PepsiCo’s previous quarterly dividend of $1.27. The ex-dividend date of this dividend is Friday, June 7th. This represents a $5.42 annualized dividend and a yield of 3.08%. PepsiCo’s dividend payout ratio (DPR) is presently 76.09%.

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.