PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Castle Rock Wealth Management LLC

Castle Rock Wealth Management LLC cut its position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 27.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,664 shares of the company's stock after selling 2,512 shares during the quarter. Castle Rock Wealth Management LLC's holdings in PepsiCo were worth $956,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Tcfg Wealth Management LLC increased its holdings in shares of PepsiCo by 3.5% in the fourth quarter. Tcfg Wealth Management LLC now owns 1,938 shares of the company's stock valued at $295,000 after purchasing an additional 66 shares during the period. Osprey Private Wealth LLC increased its stake in PepsiCo by 0.5% in the 4th quarter. Osprey Private Wealth LLC now owns 15,060 shares of the company's stock valued at $2,290,000 after buying an additional 70 shares during the period. TAGStone Capital Inc. raised its position in PepsiCo by 2.8% during the 4th quarter. TAGStone Capital Inc. now owns 2,527 shares of the company's stock worth $388,000 after buying an additional 70 shares during the last quarter. Lokken Investment Group LLC lifted its stake in shares of PepsiCo by 0.9% in the 4th quarter. Lokken Investment Group LLC now owns 7,699 shares of the company's stock worth $1,171,000 after acquiring an additional 70 shares during the period. Finally, Leavell Investment Management Inc. boosted its holdings in shares of PepsiCo by 0.3% in the fourth quarter. Leavell Investment Management Inc. now owns 27,844 shares of the company's stock valued at $4,271,000 after acquiring an additional 71 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company's stock.

Analyst Ratings Changes

PEP has been the topic of a number of analyst reports. Evercore ISI set a $140.00 price objective on PepsiCo in a report on Thursday, April 24th. JPMorgan Chase & Co. upped their price objective on PepsiCo from $158.00 to $159.00 and gave the stock a "neutral" rating in a report on Monday, April 21st. HSBC cut their price objective on PepsiCo from $186.00 to $170.00 and set a "hold" rating for the company in a research report on Tuesday, February 4th. CICC Research reaffirmed a "market perform" rating on shares of PepsiCo in a research note on Friday, February 7th. Finally, Morgan Stanley cut their price target on shares of PepsiCo from $168.00 to $153.00 and set an "equal weight" rating for the company in a report on Friday, April 25th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $160.69.

PepsiCo Price Performance

NASDAQ:PEP traded up $1.25 during trading hours on Thursday, reaching $131.92. 6,651,807 shares of the company traded hands, compared to its average volume of 6,517,243. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65. The firm's 50-day moving average is $138.55 and its 200-day moving average is $147.72. The stock has a market cap of $180.87 billion, a P/E ratio of 18.98, a P/E/G ratio of 3.09 and a beta of 0.47. PepsiCo, Inc. has a 1-year low of $127.75 and a 1-year high of $180.91.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The company reported $1.48 EPS for the quarter, missing analysts' consensus estimates of $1.49 by ($0.01). The company had revenue of $17.92 billion for the quarter, compared to analysts' expectations of $17.81 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The company's revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.61 EPS. Equities research analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The company also recently disclosed 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. This is an increase 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 dividend yield of 4.31%. PepsiCo's dividend payout ratio is presently 83.68%.

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.