Chiron Capital Management LLC Sells 5,195 Shares of PepsiCo, Inc. $PEP

Chiron Capital Management LLC reduced its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 33.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,168 shares of the company’s stock after selling 5,195 shares during the period. PepsiCo makes up about 1.2% of Chiron Capital Management LLC’s portfolio, making the stock its 25th biggest holding. Chiron Capital Management LLC’s holdings in PepsiCo were worth $1,428,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PEP. Evolution Wealth Management Inc. acquired a new stake in shares of PepsiCo during the second quarter worth $27,000. JCIC Asset Management Inc. acquired a new position in shares of PepsiCo in the third quarter valued at about $27,000. Vermillion & White Wealth Management Group LLC increased its position in PepsiCo by 107.1% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 234 shares of the company’s stock worth $31,000 after acquiring an additional 121 shares during the period. Imprint Wealth LLC acquired a new stake in PepsiCo in the 3rd quarter worth about $31,000. Finally, Halbert Hargrove Global Advisors LLC boosted its holdings in PepsiCo by 667.7% in the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 238 shares of the company’s stock valued at $33,000 after purchasing an additional 207 shares during the period. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Stock Performance

NASDAQ PEP opened at $159.88 on Friday. The firm’s 50 day simple moving average is $156.71 and its 200 day simple moving average is $149.69. The firm has a market capitalization of $218.50 billion, a price-to-earnings ratio of 26.65, a P/E/G ratio of 3.07 and a beta of 0.39. The company has a current ratio of 0.85, a quick ratio of 0.67 and a debt-to-equity ratio of 2.06. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $171.48.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Monday, February 2nd. The company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.24 by $0.02. PepsiCo had a net margin of 8.77% and a return on equity of 57.92%. The business had revenue of $29.34 billion during the quarter, compared to the consensus estimate of $28.96 billion. During the same period in the previous year, the business earned $1.96 earnings per share. The company’s revenue was up 5.6% on a year-over-year basis. As a group, research analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo declared that its board has initiated a share buyback plan on Tuesday, February 3rd that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 4.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be issued a dividend of $1.4225 per share. The ex-dividend date of this dividend is Friday, March 6th. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.6%. PepsiCo’s payout ratio is 94.83%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Argus upgraded shares of PepsiCo to a “hold” rating in a research report on Tuesday, February 17th. Piper Sandler boosted their price target on PepsiCo from $172.00 to $181.00 and gave the company an “overweight” rating in a research note on Thursday. Citigroup increased their price target on PepsiCo from $170.00 to $182.00 and gave the stock a “buy” rating in a research report on Wednesday, February 4th. Wall Street Zen raised PepsiCo from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. Finally, Evercore upped their target price on PepsiCo from $152.00 to $165.00 in a research report on Wednesday, February 4th. Eight investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $169.00.

PepsiCo Profile

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.