Daymark Wealth Partners LLC Sells 2,022 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Daymark Wealth Partners LLC cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 83,487 shares of the company’s stock after selling 2,022 shares during the period. Daymark Wealth Partners LLC’s holdings in PepsiCo were worth $12,695,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in PEP. Thrivent Financial for Lutherans increased its position in PepsiCo by 8.5% during the 2nd quarter. Thrivent Financial for Lutherans now owns 121,512 shares of the company’s stock worth $20,040,000 after buying an additional 9,567 shares during the period. Wescott Financial Advisory Group LLC increased its position in PepsiCo by 41.3% during the second quarter. Wescott Financial Advisory Group LLC now owns 2,475 shares of the company’s stock worth $408,000 after acquiring an additional 724 shares during the period. Fred Alger Management LLC raised its stake in PepsiCo by 5.6% in the 2nd quarter. Fred Alger Management LLC now owns 49,842 shares of the company’s stock worth $8,220,000 after purchasing an additional 2,651 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in PepsiCo in the 2nd quarter valued at about $223,000. Finally, Alley Investment Management Company LLC increased its holdings in shares of PepsiCo by 0.8% during the second quarter. Alley Investment Management Company LLC now owns 68,863 shares of the company’s stock worth $11,358,000 after purchasing an additional 548 shares during the period. Institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

Shares of PEP opened at $148.09 on Thursday. 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 stock has a market cap of $203.18 billion, a PE ratio of 21.84, a PEG ratio of 2.75 and a beta of 0.54. PepsiCo, Inc. has a 12-month low of $141.51 and a 12-month high of $183.41. The business has a 50-day simple moving average of $154.74 and a two-hundred day simple moving average of $165.64.

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 issued a $1.355 dividend. The ex-dividend date was Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.66%. PepsiCo’s dividend payout ratio (DPR) is presently 79.94%.

Analyst Upgrades and Downgrades

PEP has been the topic of a number of analyst reports. Hsbc Global Res raised PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Wells Fargo & Company decreased their price target on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Bank of America cut 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. JPMorgan Chase & Co. dropped their target price on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a research report on Wednesday. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $178.20.

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.