Connecticut Wealth Management LLC Cuts Position in PepsiCo, Inc. (NASDAQ:PEP)

Connecticut Wealth Management LLC lessened its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 26.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 14,773 shares of the company’s stock after selling 5,378 shares during the quarter. Connecticut Wealth Management LLC’s holdings in PepsiCo were worth $2,246,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. WealthTrak Capital Management LLC bought a new position in PepsiCo during the fourth quarter valued at approximately $28,000. Collier Financial purchased a new stake in PepsiCo in the fourth quarter worth approximately $28,000. Creative Capital Management Investments LLC purchased a new stake in PepsiCo in the fourth quarter worth approximately $30,000. Prudent Man Investment Management Inc. purchased a new stake in PepsiCo in the fourth quarter worth approximately $30,000. Finally, Measured Risk Portfolios Inc. purchased a new stake in PepsiCo in the fourth quarter worth approximately $31,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

PepsiCo stock opened at $130.15 on Thursday. The company’s 50-day moving average price is $140.35 and its 200-day moving average price is $148.94. PepsiCo, Inc. has a twelve month low of $127.87 and a twelve month high of $182.13. 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 company has a market cap of $178.45 billion, a PE ratio of 18.73, a price-to-earnings-growth ratio of 3.09 and a beta of 0.47.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Thursday, April 24th. The company reported $1.48 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 firm had revenue of $17.92 billion for the quarter, compared to analysts’ expectations of $17.81 billion. During the same period in the prior year, the firm posted $1.61 earnings per share. PepsiCo’s revenue for the quarter was down 1.8% on a year-over-year basis. On average, equities research analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be paid a dividend of $1.4225 per share. The ex-dividend date of this dividend is Friday, June 6th. This is a boost from PepsiCo’s previous quarterly dividend of $1.36. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.37%. PepsiCo’s payout ratio is currently 83.68%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PEP shares. Deutsche Bank Aktiengesellschaft dropped their target price on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. CICC Research reiterated a “market perform” rating on shares of PepsiCo in a research note on Friday, February 7th. Evercore ISI set a $140.00 price target on shares of PepsiCo in a research note on Thursday, April 24th. Citigroup dropped their price target on shares of PepsiCo from $170.00 to $160.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Finally, Bank of America dropped their price target on shares of PepsiCo from $155.00 to $150.00 and set a “neutral” rating on the stock in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $160.69.

PepsiCo 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.