Bank of Nova Scotia Trust Co. Sells 1,358 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Bank of Nova Scotia Trust Co. cut its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 16.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,759 shares of the company’s stock after selling 1,358 shares during the period. Bank of Nova Scotia Trust Co.’s holdings in PepsiCo were worth $1,028,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Tcfg Wealth Management LLC increased its position 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 buying an additional 66 shares in the last quarter. Lincoln Capital LLC grew its stake in PepsiCo by 0.4% in the 4th quarter. Lincoln Capital LLC now owns 16,808 shares of the company’s stock valued at $2,556,000 after acquiring an additional 70 shares during the last quarter. Marshall Financial Group LLC raised its position in PepsiCo by 2.3% during the fourth quarter. Marshall Financial Group LLC now owns 3,128 shares of the company’s stock worth $476,000 after acquiring an additional 70 shares during the last quarter. Osprey Private Wealth LLC lifted its holdings in shares of PepsiCo by 0.5% in the fourth quarter. Osprey Private Wealth LLC now owns 15,060 shares of the company’s stock valued at $2,290,000 after purchasing an additional 70 shares in the last quarter. Finally, TAGStone Capital Inc. increased its stake in shares of 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 purchasing an additional 70 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PEP has been the topic of a number of analyst reports. Morgan Stanley lowered their target price on PepsiCo from $185.00 to $168.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. Royal Bank of Canada assumed coverage on PepsiCo in a research report on Tuesday, February 4th. They set a $172.00 price objective for the company. Bank of America restated a “neutral” rating and issued a $155.00 target price (down from $185.00) on shares of PepsiCo in a report on Tuesday. StockNews.com downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Finally, Piper Sandler assumed coverage on shares of PepsiCo in a research note on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price objective on the stock. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, PepsiCo currently has a consensus rating of “Hold” and an average target price of $168.12.

PepsiCo Trading Up 2.0 %

Shares of PEP stock opened at $142.84 on Friday. 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 stock has a 50-day simple moving average of $148.16 and a 200 day simple moving average of $154.94. PepsiCo, Inc. has a fifty-two week low of $138.33 and a fifty-two week high of $183.41. The stock has a market capitalization of $195.88 billion, a P/E ratio of 20.55, a P/E/G ratio of 3.09 and a beta of 0.49.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.02. The company had revenue of $27.78 billion for the quarter, compared to analysts’ expectations of $27.89 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The business’s revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.78 EPS. On average, sell-side analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 7th were paid a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.79%. The ex-dividend date was Friday, March 7th. PepsiCo’s dividend payout ratio is presently 77.99%.

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.