Latitude Advisors LLC Decreases Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Latitude Advisors LLC lessened its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 5.1% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,390 shares of the company’s stock after selling 182 shares during the period. Latitude Advisors LLC’s holdings in PepsiCo were worth $576,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Proquility Private Wealth Partners LLC grew its stake in PepsiCo by 1.1% during the 4th quarter. Proquility Private Wealth Partners LLC now owns 5,260 shares of the company’s stock valued at $950,000 after acquiring an additional 57 shares in the last quarter. Amplius Wealth Advisors LLC increased its holdings in shares of PepsiCo by 2.8% in the fourth quarter. Amplius Wealth Advisors LLC now owns 2,241 shares of the company’s stock valued at $381,000 after purchasing an additional 60 shares during the last quarter. Darwin Wealth Management LLC boosted its stake in PepsiCo by 2.7% during the third quarter. Darwin Wealth Management LLC now owns 2,345 shares of the company’s stock worth $397,000 after buying an additional 61 shares during the last quarter. Sugarloaf Wealth Management LLC grew its holdings in PepsiCo by 2.6% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 2,420 shares of the company’s stock valued at $411,000 after buying an additional 61 shares in the last quarter. Finally, Cassia Capital Partners LLC increased its position in PepsiCo by 1.5% during the third quarter. Cassia Capital Partners LLC now owns 4,143 shares of the company’s stock worth $702,000 after purchasing an additional 63 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

PEP has been the topic of a number of research analyst reports. Citigroup upgraded PepsiCo from a “neutral” rating to a “buy” rating and lifted their target price for the company from $180.00 to $195.00 in a research report on Monday, February 12th. JPMorgan Chase & Co. lowered shares of PepsiCo from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $185.00 to $176.00 in a report on Tuesday, December 19th. Morgan Stanley raised PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 target price on the stock in a research report on Monday, March 18th. Argus cut PepsiCo from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Finally, StockNews.com downgraded PepsiCo from a “buy” rating to a “hold” rating in a research report on Monday, February 12th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $186.92.

PepsiCo Stock Performance

NASDAQ:PEP traded up $1.06 during mid-day trading on Wednesday, hitting $168.56. 552,905 shares of the company’s stock traded hands, compared to its average volume of 5,676,862. The firm has a 50 day moving average of $168.62 and a two-hundred day moving average of $167.37. The firm has a market capitalization of $231.69 billion, a price-to-earnings ratio of 25.49, a price-to-earnings-growth ratio of 2.62 and a beta of 0.53. The company has a current ratio of 0.85, a quick ratio of 0.68 and a debt-to-equity ratio of 2.02. PepsiCo, Inc. has a 12 month low of $155.83 and a 12 month high of $196.88.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Friday, February 9th. The company reported $1.78 EPS for the quarter, topping the consensus estimate of $1.72 by $0.06. The firm had revenue of $27.84 billion for the quarter, compared to the consensus estimate of $28.40 billion. PepsiCo had a net margin of 9.92% and a return on equity of 58.03%. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same period last year, the company posted $1.67 EPS. On average, equities analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were issued a $1.265 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $5.06 annualized dividend and a yield of 3.00%. PepsiCo’s dividend payout ratio is presently 77.02%.

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.