PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Brooklyn Investment Group

Brooklyn Investment Group lessened its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 10.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,524 shares of the company’s stock after selling 742 shares during the quarter. Brooklyn Investment Group’s holdings in PepsiCo were worth $992,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in PEP. Global Wealth Strategies & Associates raised 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 worth $27,000 after buying an additional 59 shares during the last quarter. Highline Wealth Partners LLC acquired a new position in shares of PepsiCo during the 3rd quarter worth $28,000. Legacy Investment Solutions LLC acquired a new position in shares of PepsiCo during the 3rd quarter worth $31,000. Mattson Financial Services LLC acquired a new position in shares of PepsiCo during the 2nd quarter worth $34,000. Finally, Rakuten Securities Inc. increased its position in PepsiCo by 93.2% during the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after purchasing an additional 96 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Performance

Shares of PEP opened at $148.25 on Friday. The business’s 50 day moving average is $155.37 and its two-hundred day moving average is $165.82. PepsiCo, Inc. has a 52-week low of $141.51 and a 52-week high of $183.41. The firm has a market cap of $203.40 billion, a price-to-earnings ratio of 21.87, a PEG ratio of 2.57 and a beta of 0.54. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were given a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date of this dividend was Friday, December 6th. PepsiCo’s payout ratio is 79.94%.

Analyst Upgrades and Downgrades

Several analysts have commented on PEP shares. UBS Group lowered their price target on PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a report on Thursday. Wells Fargo & Company reduced their price objective on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Bank of America reduced their price objective on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Hsbc Global Res raised PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Finally, Barclays reduced their price objective on PepsiCo from $183.00 to $158.00 and set an “overweight” rating on the stock in a research note on Friday. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, PepsiCo presently has a consensus rating of “Hold” and an average price target of $178.60.

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.