KMG Fiduciary Partners LLC Lowers Position in PepsiCo, Inc. (NASDAQ:PEP)

KMG Fiduciary Partners LLC cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 6.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,564 shares of the company’s stock after selling 1,771 shares during the period. KMG Fiduciary Partners LLC’s holdings in PepsiCo were worth $3,887,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Empowered Funds LLC lifted 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 purchasing an additional 8,406 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of PepsiCo by 104.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,705,574 shares of the company’s stock worth $259,350,000 after purchasing an additional 870,451 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of PepsiCo by 11.0% during the third quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock worth $59,549,000 after purchasing an additional 34,633 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV lifted 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 purchasing an additional 4,712 shares in the last quarter. Finally, IHT Wealth Management LLC lifted its position in shares of PepsiCo by 19.3% during the third quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock worth $5,493,000 after purchasing an additional 5,220 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Price Performance

PepsiCo stock opened at $146.58 on Friday. PepsiCo, Inc. has a one year low of $141.51 and a one year high of $183.41. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The business has a fifty day moving average of $156.06 and a two-hundred day moving average of $166.05. The company has a market cap of $201.11 billion, a P/E ratio of 21.62, a price-to-earnings-growth ratio of 2.57 and a beta of 0.54.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were issued a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date of this dividend was Friday, December 6th. PepsiCo’s dividend payout ratio (DPR) is currently 79.94%.

Analysts Set New Price Targets

Several analysts recently weighed in on PEP shares. JPMorgan Chase & Co. reduced their target price on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. UBS Group reduced their target price on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a report on Thursday. Piper Sandler started coverage on shares of PepsiCo in a report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 target price on the stock. Morgan Stanley cut shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price on the stock. in a report on Friday, September 20th. Finally, Barclays reduced their target price on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $180.27.

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.