Providence Wealth Advisors LLC Decreases Stake in PepsiCo, Inc. (NASDAQ:PEP)

Providence Wealth Advisors LLC cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,526 shares of the company’s stock after selling 200 shares during the quarter. PepsiCo comprises 1.4% of Providence Wealth Advisors LLC’s investment portfolio, making the stock its 21st biggest position. Providence Wealth Advisors LLC’s holdings in PepsiCo were worth $1,841,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of PEP. Raymond James Financial Inc. acquired a new position in PepsiCo in the 4th quarter valued at about $589,307,000. Charles Schwab Investment Management Inc. lifted its holdings in PepsiCo by 18.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company’s stock valued at $3,834,504,000 after acquiring an additional 3,856,193 shares during the last quarter. State Street Corp increased its stake in PepsiCo by 5.1% during the third quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after acquiring an additional 2,775,679 shares during the last quarter. Franklin Resources Inc. raised its position in PepsiCo by 21.1% in the third quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock valued at $2,293,049,000 after purchasing an additional 2,264,445 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of PepsiCo by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company’s stock valued at $20,280,471,000 after purchasing an additional 1,376,133 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Up 2.1 %

PEP stock opened at $148.64 on Thursday. The company has a market cap of $203.86 billion, a P/E ratio of 21.39, a P/E/G 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 company’s 50-day moving average price is $149.16 and its 200 day moving average price is $158.43. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 58.87% and a net margin of 10.43%. PepsiCo’s revenue was down .2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.78 earnings per share. On average, research analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently declared 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 dividend yield of 3.65%. The ex-dividend date is Friday, March 7th. PepsiCo’s dividend payout ratio (DPR) is presently 77.99%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on PEP shares. HSBC dropped their price target 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. Piper Sandler began coverage on shares of PepsiCo in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price objective for the company. CICC Research reaffirmed a “market perform” rating on shares of PepsiCo in a research note on Friday, February 7th. Evercore ISI dropped their price target on shares of PepsiCo from $180.00 to $160.00 in a research note on Tuesday, February 4th. Finally, Citigroup reduced their price objective on PepsiCo from $195.00 to $170.00 and set a “buy” rating on the stock in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, PepsiCo presently has an average rating of “Hold” and an average price target of $169.88.

About PepsiCo

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.