Waterfront Wealth Inc. Lowers Stake in PepsiCo, Inc. (NASDAQ:PEP)

Waterfront Wealth Inc. cut its position in PepsiCo, Inc. (NASDAQ:PEP) by 9.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,149 shares of the company’s stock after selling 322 shares during the period. Waterfront Wealth Inc.’s holdings in PepsiCo were worth $479,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the company. Empowered Funds LLC grew its holdings in PepsiCo by 9.2% during the 3rd quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock valued at $16,968,000 after buying an additional 8,406 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in PepsiCo by 104.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,705,574 shares of the company’s stock valued at $259,350,000 after acquiring an additional 870,451 shares in the last quarter. Janus Henderson Group PLC lifted its stake in PepsiCo by 11.0% in the 3rd quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock worth $59,549,000 after purchasing an additional 34,633 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV boosted its holdings in shares of PepsiCo by 12.8% during the 4th quarter. Hudson Valley Investment Advisors Inc. ADV now owns 41,580 shares of the company’s stock valued at $6,323,000 after purchasing an additional 4,712 shares during the last quarter. Finally, IHT Wealth Management LLC grew its position in shares of PepsiCo by 19.3% during the third quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock valued at $5,493,000 after purchasing an additional 5,220 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. HSBC dropped their price target on PepsiCo from $186.00 to $170.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Evercore ISI lowered their target price on PepsiCo from $180.00 to $160.00 in a research report on Tuesday, February 4th. Morgan Stanley decreased their price target on shares of PepsiCo from $185.00 to $168.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. StockNews.com cut shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Finally, Citigroup decreased their target price on shares of PepsiCo from $195.00 to $170.00 and set a “buy” rating on the stock in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, PepsiCo currently has an average rating of “Hold” and an average price target of $171.47.

PepsiCo Stock Performance

PEP stock opened at $153.50 on Friday. The firm has a market cap of $210.53 billion, a price-to-earnings ratio of 22.09, a PEG ratio of 3.02 and a beta of 0.54. PepsiCo, Inc. has a twelve month low of $141.51 and a twelve month high of $183.41. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. The business’s fifty day simple moving average is $148.75 and its two-hundred day simple moving average is $162.39.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data 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. The company had revenue of $27.78 billion during the quarter, compared to analyst estimates of $27.89 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The firm’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter last year, the business posted $1.78 EPS. Analysts predict that PepsiCo, Inc. will post 8.31 earnings per share for the current year.

PepsiCo Dividend Announcement

The company 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 of this dividend is Friday, March 7th. This represents a $5.42 annualized dividend and a yield of 3.53%. PepsiCo’s payout ratio is currently 77.99%.

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.