Evercore Wealth Management LLC Cuts Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Evercore Wealth Management LLC cut its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 2.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 112,483 shares of the company's stock after selling 2,543 shares during the period. Evercore Wealth Management LLC's holdings in PepsiCo were worth $17,104,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of PEP. Adage Capital Partners GP L.L.C. grew its position in shares of PepsiCo by 22.8% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,247,779 shares of the company's stock worth $189,737,000 after acquiring an additional 232,000 shares during the last quarter. Coppell Advisory Solutions LLC increased its stake in PepsiCo by 13.1% in the fourth quarter. Coppell Advisory Solutions LLC now owns 10,932 shares of the company's stock valued at $1,659,000 after purchasing an additional 1,266 shares during the period. MGO One Seven LLC boosted its stake in shares of PepsiCo by 18.7% during the fourth quarter. MGO One Seven LLC now owns 33,758 shares of the company's stock worth $5,133,000 after buying an additional 5,323 shares during the period. Pinebridge Investments L.P. grew its holdings in shares of PepsiCo by 5.4% during the fourth quarter. Pinebridge Investments L.P. now owns 634,146 shares of the company's stock worth $96,428,000 after buying an additional 32,359 shares during the last quarter. Finally, Alta Advisers Ltd raised its stake in PepsiCo by 15.1% during the 4th quarter. Alta Advisers Ltd now owns 4,497 shares of the company's stock valued at $684,000 after acquiring an additional 590 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company's stock.

PepsiCo Price Performance

PepsiCo stock traded down $1.93 during midday trading on Friday, reaching $133.38. 11,537,466 shares of the company were exchanged, compared to its average volume of 6,145,927. The company has a market capitalization of $182.91 billion, a price-to-earnings ratio of 19.19, a P/E/G ratio of 3.09 and a beta of 0.49. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82. The firm's 50-day simple moving average is $147.70 and its 200-day simple moving average is $153.92. PepsiCo, Inc. has a 1 year low of $131.80 and a 1 year high of $183.41.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The company reported $1.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.04). The firm had revenue of $17.92 billion for the quarter, compared to analysts' expectations of $17.81 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. On average, analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 7th were given a dividend of $1.355 per share. The ex-dividend date was Friday, March 7th. This represents a $5.42 annualized dividend and a yield of 4.06%. PepsiCo's dividend payout ratio (DPR) is presently 77.99%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Piper Sandler started coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They issued an "overweight" rating and a $171.00 price objective on the stock. Bank of America dropped their price target on shares of PepsiCo from $155.00 to $150.00 and set a "neutral" rating on the stock in a research note on Friday. UBS Group lowered their price objective on PepsiCo from $175.00 to $169.00 and set a "buy" rating on the stock in a report on Friday. Morgan Stanley reduced their price target on PepsiCo from $168.00 to $153.00 and set an "equal weight" rating for the company in a report on Friday. Finally, JPMorgan Chase & Co. raised their target price on PepsiCo from $158.00 to $159.00 and gave the company a "neutral" rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $162.00.

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.