Baker Tilly Wealth Management LLC Sells 339 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Baker Tilly Wealth Management LLC lessened its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 13.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,142 shares of the company’s stock after selling 339 shares during the period. Baker Tilly Wealth Management LLC’s holdings in PepsiCo were worth $326,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in PEP. Global Wealth Strategies & Associates lifted its position in shares of PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares in the last quarter. Highline Wealth Partners LLC purchased a new stake in PepsiCo in the 3rd quarter valued at about $28,000. Legacy Investment Solutions LLC bought a new position in shares of PepsiCo during the 3rd quarter worth approximately $31,000. Mattson Financial Services LLC bought a new position in shares of PepsiCo in the second quarter valued at approximately $34,000. Finally, Rakuten Securities Inc. increased its position in shares of PepsiCo by 93.2% during the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after acquiring an additional 96 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

PEP stock opened at $142.64 on Friday. The firm has a 50 day moving average of $157.35 and a 200-day moving average of $166.51. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The firm has a market capitalization of $195.70 billion, a P/E ratio of 21.04, a price-to-earnings-growth ratio of 2.94 and a beta of 0.54. PepsiCo, Inc. has a 12 month low of $141.51 and a 12 month high of $183.41.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The firm had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. During the same period in the previous year, the business earned $2.25 EPS. The business’s revenue for the quarter was down .6% on a year-over-year basis. As a group, sell-side analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were paid a $1.355 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.80%. PepsiCo’s dividend payout ratio is currently 79.94%.

Analysts Set New Price Targets

PEP has been the subject of a number of recent analyst reports. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Piper Sandler assumed coverage on shares of PepsiCo in a research note on Tuesday. They issued an “overweight” rating and a $171.00 target price on the stock. Royal Bank of Canada lowered their price target on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. Finally, Barclays dropped their price objective on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, PepsiCo has an average rating of “Hold” and a consensus target price of $180.64.

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.