Advisors Capital Management LLC Trims Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Advisors Capital Management LLC lowered its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 4.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 148,688 shares of the company's stock after selling 7,365 shares during the quarter. Advisors Capital Management LLC's holdings in PepsiCo were worth $22,610,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Collier Financial purchased a new stake in shares of PepsiCo during the fourth quarter valued at $28,000. WealthTrak Capital Management LLC acquired a new position in shares of PepsiCo in the fourth quarter valued at about $28,000. Creative Capital Management Investments LLC acquired a new stake in shares of PepsiCo during the fourth quarter worth about $30,000. Prudent Man Investment Management Inc. purchased a new stake in PepsiCo in the fourth quarter valued at approximately $30,000. Finally, Summit Securities Group LLC purchased a new position in PepsiCo during the 4th quarter worth approximately $33,000. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Trading Up 2.4 %

Shares of NASDAQ:PEP traded up $3.30 during mid-day trading on Thursday, reaching $143.39. 3,198,802 shares of the company were exchanged, compared to its average volume of 6,089,153. PepsiCo, Inc. has a 1 year low of $138.33 and a 1 year high of $183.41. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65. The firm's 50-day simple moving average is $148.25 and its 200 day simple moving average is $155.32. The firm has a market cap of $196.63 billion, a price-to-earnings ratio of 20.62, a P/E/G ratio of 3.09 and a beta of 0.49.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, beating analysts' consensus estimates of $1.94 by $0.02. The firm had revenue of $27.78 billion during the quarter, compared to analysts' expectations of $27.89 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The business's quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.78 earnings per share. Equities research analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 7th were given a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date was Friday, March 7th. PepsiCo's dividend payout ratio is presently 77.99%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on PEP shares. CICC Research reiterated a "market perform" rating on shares of PepsiCo in a research note on Friday, February 7th. Barclays lowered PepsiCo from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $168.00 to $156.00 in a report on Tuesday, March 18th. Piper Sandler began coverage on shares of PepsiCo in a report on Tuesday, January 7th. They set an "overweight" rating and a $171.00 price target on the stock. Bank of America reaffirmed a "neutral" rating and issued a $155.00 price target (down previously from $185.00) on shares of PepsiCo in a report on Tuesday. Finally, Citigroup dropped 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. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $168.12.

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.