Freestone Capital Holdings LLC Lowers Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Freestone Capital Holdings LLC cut its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 12.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 27,148 shares of the company’s stock after selling 4,038 shares during the period. Freestone Capital Holdings LLC’s holdings in PepsiCo were worth $4,128,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Swedbank AB lifted its holdings in PepsiCo by 211.4% during the third quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock valued at $398,847,000 after purchasing an additional 1,592,343 shares in the last quarter. Howard Capital Management Group LLC lifted its holdings in PepsiCo by 2.0% during the third quarter. Howard Capital Management Group LLC now owns 4,568 shares of the company’s stock valued at $777,000 after purchasing an additional 90 shares in the last quarter. Catalyst Capital Advisors LLC lifted its holdings in PepsiCo by 205.1% during the third quarter. Catalyst Capital Advisors LLC now owns 4,055 shares of the company’s stock valued at $690,000 after purchasing an additional 2,726 shares in the last quarter. United Advisor Group LLC lifted its holdings in PepsiCo by 25.5% during the third quarter. United Advisor Group LLC now owns 2,625 shares of the company’s stock valued at $446,000 after purchasing an additional 534 shares in the last quarter. Finally, HF Advisory Group LLC purchased a new position in PepsiCo during the third quarter valued at $403,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Stock Performance

PepsiCo stock opened at $153.88 on Thursday. The stock has a market cap of $211.05 billion, a P/E ratio of 22.14, a price-to-earnings-growth ratio of 3.09 and a beta of 0.52. 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 stock has a 50 day moving average of $148.73 and a 200-day moving average of $161.14. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.02. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The firm had revenue of $27.78 billion for the quarter, compared to analysts’ expectations of $27.89 billion. During the same period last year, the business posted $1.78 earnings per share. The firm’s revenue for the quarter was down .2% on a year-over-year basis. On average, analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.52%. The ex-dividend date of this dividend is Friday, March 7th. PepsiCo’s dividend payout ratio is presently 77.99%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on PEP shares. BNP Paribas reduced their target price on shares of PepsiCo from $162.00 to $160.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. Piper Sandler assumed coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 target price for the company. Morgan Stanley cut their price objective on shares of PepsiCo from $185.00 to $168.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. CICC Research restated a “market perform” rating on shares of PepsiCo in a research report on Friday, February 7th. Finally, JPMorgan Chase & Co. cut their price objective on shares of PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a research report on Friday, January 24th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $171.47.

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.