Oppenheimer Asset Management Inc. Reduces Position in PepsiCo, Inc. (NASDAQ:PEP)

Oppenheimer Asset Management Inc. reduced its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 3.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 68,978 shares of the company’s stock after selling 2,362 shares during the period. Oppenheimer Asset Management Inc.’s holdings in PepsiCo were worth $10,489,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PEP. Highline Wealth Partners LLC acquired a new position in shares of PepsiCo during the 3rd quarter worth approximately $28,000. Collier Financial purchased a new position in PepsiCo during the fourth quarter worth approximately $28,000. Legacy Investment Solutions LLC acquired a new position in PepsiCo during the third quarter worth $31,000. Rakuten Securities Inc. grew its holdings in PepsiCo by 93.2% in the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after buying an additional 96 shares in the last quarter. Finally, Creative Capital Management Investments LLC acquired a new stake in shares of PepsiCo in the 4th quarter worth $30,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Up 0.3 %

NASDAQ PEP opened at $152.02 on Friday. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41. The firm has a 50 day moving average of $148.57 and a two-hundred day moving average of $161.73. The stock has a market capitalization of $208.50 billion, a PE ratio of 21.87, a price-to-earnings-growth ratio of 3.09 and a beta of 0.54. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results 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. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The company had revenue of $27.78 billion for the quarter, compared to analysts’ expectations of $27.89 billion. During the same period last year, the firm earned $1.78 earnings per share. PepsiCo’s quarterly revenue was down .2% on a year-over-year basis. As a group, research analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Announces Dividend

The business 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 dividend of $1.355 per share. The ex-dividend date is Friday, March 7th. This represents a $5.42 dividend on an annualized basis and a yield of 3.57%. PepsiCo’s payout ratio is currently 77.99%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on PEP shares. Royal Bank of Canada started coverage on shares of PepsiCo in a report on Tuesday, February 4th. They issued a $172.00 price objective for the company. BNP Paribas cut their price target on shares of PepsiCo from $162.00 to $160.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. HSBC decreased their price objective on PepsiCo from $186.00 to $170.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. StockNews.com cut PepsiCo from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, PepsiCo presently has a consensus 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.