CIBC Private Wealth Group LLC Sells 84,017 Shares of PepsiCo, Inc. (NASDAQ:PEP)

CIBC Private Wealth Group LLC trimmed its position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 3.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,285,181 shares of the company's stock after selling 84,017 shares during the quarter. CIBC Private Wealth Group LLC owned 0.17% of PepsiCo worth $334,870,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Collier Financial bought a new stake in shares of PepsiCo during the 4th quarter worth $28,000. WealthTrak Capital Management LLC bought a new stake in shares of PepsiCo during the fourth quarter worth $28,000. Creative Capital Management Investments LLC bought a new position in shares of PepsiCo in the 4th quarter valued at $30,000. Legacy Investment Solutions LLC acquired a new stake in shares of PepsiCo during the 3rd quarter valued at $31,000. Finally, Summit Securities Group LLC acquired a new position in PepsiCo in the 4th quarter worth about $33,000. Institutional investors and hedge funds own 73.07% of the company's stock.

PepsiCo Stock Down 0.2 %

NASDAQ PEP traded down $0.27 during mid-day trading on Tuesday, hitting $149.67. The company's stock had a trading volume of 6,070,842 shares, compared to its average volume of 5,892,775. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05. The company's 50 day simple moving average is $149.28 and its 200 day simple moving average is $157.72. PepsiCo, Inc. has a twelve month low of $141.51 and a twelve month high of $183.41. The firm has a market capitalization of $205.27 billion, a price-to-earnings ratio of 21.54, a PEG ratio of 3.09 and a beta of 0.52.

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

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 7th were issued a $1.355 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $5.42 annualized dividend and a dividend yield of 3.62%. PepsiCo's dividend payout ratio is currently 77.99%.

Wall Street Analyst Weigh In

PEP has been the topic of several research reports. Citigroup reduced their price target on PepsiCo from $195.00 to $170.00 and set a "buy" rating on the stock in a report on Wednesday, February 5th. CICC Research reaffirmed a "market perform" rating on shares of PepsiCo in a research report on Friday, February 7th. Morgan Stanley reduced their price target on PepsiCo from $185.00 to $168.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 5th. TD Cowen cut their price objective on PepsiCo from $183.00 to $160.00 and set a "hold" rating on the stock in a research note on Wednesday, January 8th. Finally, HSBC decreased their target price on shares of PepsiCo from $186.00 to $170.00 and set a "hold" rating for the company in a research report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $169.88.

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.