Fairhaven Wealth Management LLC Sells 334 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Fairhaven Wealth Management LLC reduced its position in PepsiCo, Inc. (NASDAQ:PEP) by 1.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,227 shares of the company’s stock after selling 334 shares during the quarter. PepsiCo comprises about 1.0% of Fairhaven Wealth Management LLC’s holdings, making the stock its 20th biggest holding. Fairhaven Wealth Management LLC’s holdings in PepsiCo were worth $3,228,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of PEP. State Street Corp grew its position in shares of PepsiCo by 5.1% during the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock valued at $9,738,429,000 after purchasing an additional 2,775,679 shares in the last quarter. Geode Capital Management LLC raised its position in shares of PepsiCo by 1.8% in the third quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock worth $5,170,529,000 after buying an additional 543,558 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in PepsiCo by 5.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock worth $3,632,413,000 after buying an additional 1,125,059 shares in the last quarter. Franklin Resources Inc. increased its stake in PepsiCo by 21.1% in the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock worth $2,293,049,000 after acquiring an additional 2,264,445 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of PepsiCo by 2.7% in the 3rd quarter. Wellington Management Group LLP now owns 12,098,551 shares of the company’s stock valued at $2,057,359,000 after acquiring an additional 313,468 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Up 0.2 %

Shares of PepsiCo stock opened at $153.85 on Tuesday. The company’s 50 day moving average price is $148.61 and its 200-day moving average price is $161.98. PepsiCo, Inc. has a 52-week low of $141.51 and a 52-week high of $183.41. 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 stock has a market capitalization of $211.01 billion, a price-to-earnings ratio of 22.14, a P/E/G ratio of 3.09 and a beta of 0.54.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.02. The firm had revenue of $27.78 billion for 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 company’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $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 firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.52%. The ex-dividend date is Friday, March 7th. PepsiCo’s dividend payout ratio (DPR) is currently 77.99%.

Analyst Upgrades and Downgrades

PEP has been the subject of several recent analyst reports. JPMorgan Chase & Co. cut their price objective on PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a report on Friday, January 24th. CICC Research reissued a “market perform” rating on shares of PepsiCo in a report on Friday, February 7th. 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 objective for the company. StockNews.com cut PepsiCo from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Finally, BNP Paribas dropped their price target on PepsiCo from $162.00 to $160.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, PepsiCo currently has an average rating of “Hold” and a consensus price target of $171.47.

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.