Pallas Capital Advisors LLC Lowers Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Pallas Capital Advisors LLC cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 94.2% in the 4th quarter, Holdings Channel reports. The fund owned 2,596 shares of the company’s stock after selling 42,244 shares during the quarter. Pallas Capital Advisors LLC’s holdings in PepsiCo were worth $395,000 as of its most recent filing with the Securities & Exchange Commission.

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

PepsiCo Trading Up 0.3 %

Shares of PEP stock opened at $144.95 on Wednesday. The company has a market capitalization of $198.87 billion, a price-to-earnings ratio of 21.38, a PEG ratio of 2.94 and a beta of 0.54. 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 50-day moving average price of $156.46 and a 200 day moving average price of $166.20. PepsiCo, Inc. has a twelve month low of $141.51 and a twelve month high of $183.41.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were paid a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.74%. The ex-dividend date was Friday, December 6th. PepsiCo’s payout ratio is 79.94%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on PEP shares. Deutsche Bank Aktiengesellschaft upgraded PepsiCo from a “hold” rating to a “buy” rating and increased their price objective for the stock from $179.00 to $184.00 in a research report on Thursday, December 12th. Wells Fargo & Company reduced their price objective on shares of PepsiCo from $170.00 to $155.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Bank of America decreased their price objective on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Morgan Stanley cut shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price for the company. in a report on Friday, September 20th. Finally, Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, PepsiCo presently has an average rating of “Hold” and an average 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.