PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Wedmont Private Capital

Wedmont Private Capital trimmed its position in PepsiCo, Inc. (NASDAQ:PEP) by 25.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,573 shares of the company’s stock after selling 3,219 shares during the period. Wedmont Private Capital’s holdings in PepsiCo were worth $1,365,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Global Wealth Strategies & Associates increased its stake in shares of PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after acquiring an additional 59 shares during the last quarter. Highline Wealth Partners LLC acquired a new position in PepsiCo during the third quarter worth approximately $28,000. Legacy Investment Solutions LLC purchased a new position in PepsiCo during the third quarter worth approximately $31,000. Rakuten Securities Inc. grew its stake in shares of PepsiCo by 93.2% during the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after buying an additional 96 shares during the period. Finally, Mattson Financial Services LLC acquired a new stake in shares of PepsiCo during the 2nd quarter worth $34,000. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Stock Up 1.3 %

Shares of NASDAQ:PEP opened at $144.50 on Tuesday. The firm has a market cap of $198.25 billion, a PE ratio of 21.31, a price-to-earnings-growth ratio of 2.94 and a beta of 0.54. The company has a fifty day simple moving average of $156.92 and a 200 day simple moving average of $166.35. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a 12-month low of $141.51 and a 12-month high of $183.41.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, January 6th. Stockholders 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 dividend yield of 3.75%. PepsiCo’s dividend payout ratio (DPR) is presently 79.94%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Piper Sandler initiated coverage on PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price target for the company. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Royal Bank of Canada decreased their price objective on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research note on Friday, October 4th. Bank of America cut their target price on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Finally, Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $180.64.

About PepsiCo

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.