Snowden Capital Advisors LLC Reduces Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Snowden Capital Advisors LLC cut its stake in PepsiCo, Inc. (NASDAQ:PEP) by 19.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 64,760 shares of the company’s stock after selling 15,308 shares during the period. Snowden Capital Advisors LLC’s holdings in PepsiCo were worth $9,949,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of PEP. Vanguard Group Inc. grew its holdings in shares of PepsiCo by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company’s stock worth $20,280,471,000 after buying an additional 1,376,133 shares during the last quarter. Geode Capital Management LLC lifted its position in PepsiCo by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 31,079,522 shares of the company’s stock worth $4,717,069,000 after acquiring an additional 582,254 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of PepsiCo by 18.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company’s stock valued at $3,834,504,000 after purchasing an additional 3,856,193 shares during the last quarter. Norges Bank acquired a new position in shares of PepsiCo in the fourth quarter valued at approximately $2,729,565,000. Finally, Northern Trust Corp lifted its holdings in shares of PepsiCo by 8.7% during the fourth quarter. Northern Trust Corp now owns 16,403,395 shares of the company’s stock worth $2,494,300,000 after purchasing an additional 1,306,818 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on PEP shares. CICC Research restated a “market perform” rating on shares of PepsiCo in a research report on Friday, February 7th. Barclays reduced their price objective on shares of PepsiCo from $143.00 to $135.00 and set an “equal weight” rating for the company in a research report on Monday, April 28th. Dbs Bank cut PepsiCo from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 9th. HSBC reduced their price target on PepsiCo from $186.00 to $170.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. Finally, Bank of America dropped their price objective on PepsiCo from $155.00 to $150.00 and set a “neutral” rating on the stock in a report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four 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 a consensus price target of $160.69.

PepsiCo Trading Up 2.4%

Shares of PepsiCo stock opened at $131.50 on Friday. The firm has a market cap of $180.30 billion, a PE ratio of 18.92, a P/E/G ratio of 3.09 and a beta of 0.47. 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, Inc. has a fifty-two week low of $127.87 and a fifty-two week high of $183.41. The business’s fifty day moving average is $141.78 and its two-hundred day moving average is $149.90.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Thursday, April 24th. The company reported $1.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.01). PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The business had revenue of $17.92 billion during the quarter, compared to analyst estimates of $17.81 billion. During the same period in the previous year, the business posted $1.61 earnings per share. The firm’s quarterly revenue was down 1.8% on a year-over-year basis. Analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be given a dividend of $1.4225 per share. This is a positive change from PepsiCo’s previous quarterly dividend of $1.36. The ex-dividend date of this dividend is Friday, June 6th. This represents a $5.69 annualized dividend and a yield of 4.33%. PepsiCo’s dividend payout ratio is 83.68%.

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.