Alpha Cubed Investments LLC Reduces Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Alpha Cubed Investments LLC trimmed its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 42.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,816 shares of the company’s stock after selling 3,484 shares during the period. Alpha Cubed Investments LLC’s holdings in PepsiCo were worth $732,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Empowered Funds LLC increased its position in shares of PepsiCo by 9.2% during the third quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock worth $16,968,000 after acquiring an additional 8,406 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of PepsiCo by 104.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,705,574 shares of the company’s stock valued at $259,350,000 after purchasing an additional 870,451 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of PepsiCo by 11.0% during the 3rd quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock valued at $59,549,000 after buying an additional 34,633 shares during the last quarter. Hudson Valley Investment Advisors Inc. ADV grew its position in shares of PepsiCo by 12.8% during the fourth quarter. Hudson Valley Investment Advisors Inc. ADV now owns 41,580 shares of the company’s stock worth $6,323,000 after buying an additional 4,712 shares in the last quarter. Finally, IHT Wealth Management LLC raised its holdings in PepsiCo by 19.3% in the third quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock valued at $5,493,000 after acquiring an additional 5,220 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

PEP opened at $148.55 on Wednesday. PepsiCo, Inc. has a twelve month low of $141.51 and a twelve month high of $183.41. The stock has a market cap of $203.81 billion, a PE ratio of 21.91, a price-to-earnings-growth ratio of 2.74 and a beta of 0.54. The business’s 50 day moving average is $155.05 and its 200-day moving average is $165.76. 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 Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 3.65%. PepsiCo’s payout ratio is 79.94%.

Wall Street Analysts Forecast Growth

PEP has been the subject of several recent analyst reports. Barclays decreased their price objective on shares of PepsiCo from $183.00 to $158.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Wells Fargo & Company cut 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 decreased their target price on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. TD Cowen dropped their price target on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Finally, UBS Group decreased their price objective on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus 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.