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

Cullen Investment Group LTD. decreased its position in PepsiCo, Inc. (NASDAQ:PEP) by 2.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,946 shares of the company’s stock after selling 822 shares during the quarter. Cullen Investment Group LTD.’s holdings in PepsiCo were worth $5,466,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of PEP. Global Wealth Strategies & Associates raised its holdings in shares of PepsiCo by 59.0% in 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 in the last quarter. Cross Staff Investments Inc increased its position in shares of PepsiCo by 0.9% in the third quarter. Cross Staff Investments Inc now owns 7,080 shares of the company’s stock valued at $1,204,000 after acquiring an additional 60 shares during the last quarter. Paulson Wealth Management Inc. boosted its holdings in shares of PepsiCo by 2.1% during the third quarter. Paulson Wealth Management Inc. now owns 2,986 shares of the company’s stock worth $508,000 after acquiring an additional 60 shares during the period. LCM Capital Management Inc boosted its stake in shares of PepsiCo by 0.8% in the third quarter. LCM Capital Management Inc now owns 7,573 shares of the company’s stock valued at $1,288,000 after buying an additional 62 shares during the period. Finally, Demars Financial Group LLC increased its holdings in shares of PepsiCo by 1.1% during the third quarter. Demars Financial Group LLC now owns 5,721 shares of the company’s stock worth $973,000 after buying an additional 62 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on PEP. Deutsche Bank Aktiengesellschaft upgraded shares of PepsiCo from a “hold” rating to a “buy” rating and increased their price objective for the company from $179.00 to $184.00 in a research note on Thursday, December 12th. Barclays decreased their price objective on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Wells Fargo & Company cut their price target on shares of PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Morgan Stanley downgraded shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective on the stock. in a research report on Friday, September 20th. Finally, Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, PepsiCo has a consensus rating of “Hold” and a consensus target price of $180.64.

PepsiCo Price Performance

PepsiCo stock opened at $144.50 on Tuesday. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The firm’s 50-day simple moving average is $156.92 and its 200 day simple moving average is $166.35. The firm has a market capitalization of $198.25 billion, a PE ratio of 21.31, a P/E/G ratio of 2.94 and a beta of 0.54.

PepsiCo Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were given 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 3.75%. PepsiCo’s dividend payout ratio is presently 79.94%.

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.