Lmcg Investments LLC Sells 1,389 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Lmcg Investments LLC cut its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 5.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,798 shares of the company’s stock after selling 1,389 shares during the period. Lmcg Investments LLC’s holdings in PepsiCo were worth $3,619,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Sei Investments Co. grew its stake in PepsiCo by 2.8% in the second quarter. Sei Investments Co. now owns 389,241 shares of the company’s stock valued at $64,186,000 after purchasing an additional 10,547 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in PepsiCo by 8.5% in the second quarter. Thrivent Financial for Lutherans now owns 121,512 shares of the company’s stock worth $20,040,000 after purchasing an additional 9,567 shares during the last quarter. Epoch Investment Partners Inc. raised its stake in PepsiCo by 7.4% in the second quarter. Epoch Investment Partners Inc. now owns 344,176 shares of the company’s stock valued at $56,765,000 after buying an additional 23,703 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of PepsiCo by 7.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,979 shares of the company’s stock valued at $1,551,000 after purchasing an additional 608 shares during the last quarter. Finally, Certified Advisory Corp lifted its position in PepsiCo by 4.0% during the 2nd quarter. Certified Advisory Corp now owns 2,117 shares of the company’s stock worth $349,000 after acquiring an additional 82 shares during the period. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Price Performance

Shares of PEP opened at $148.25 on Tuesday. 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, Inc. has a fifty-two week low of $141.51 and a fifty-two week high of $183.41. The company has a market cap of $203.40 billion, a P/E ratio of 21.87, a PEG ratio of 2.74 and a beta of 0.54. The firm’s 50 day moving average price is $155.37 and its 200 day moving average price is $165.86.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were issued a $1.355 dividend. This represents a $5.42 annualized dividend and a dividend yield of 3.66%. The ex-dividend date was Friday, December 6th. PepsiCo’s payout ratio is currently 79.94%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PEP shares. Piper Sandler began coverage on PepsiCo in a research note on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price objective for the company. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Wells Fargo & Company reduced their price target on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Finally, Bank of America reduced their price objective on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, PepsiCo presently has an average rating of “Hold” and an average target price of $178.60.

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.