Park Place Capital Corp Trims Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Park Place Capital Corp decreased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 10.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 4,854 shares of the company’s stock after selling 554 shares during the period. Park Place Capital Corp’s holdings in PepsiCo were worth $738,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in PEP. Global Wealth Strategies & Associates raised its position in shares of PepsiCo by 59.0% in the third 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. Highline Wealth Partners LLC purchased a new stake in shares of PepsiCo in the 3rd quarter valued at about $28,000. Legacy Investment Solutions LLC bought a new stake in shares of PepsiCo during the 3rd quarter valued at about $31,000. Mattson Financial Services LLC purchased a new position in shares of PepsiCo during the second quarter worth about $34,000. Finally, Rakuten Securities Inc. raised its stake in PepsiCo by 93.2% in the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after purchasing an additional 96 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

PEP stock opened at $148.09 on Thursday. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The firm’s 50-day moving average price is $154.74 and its two-hundred day moving average price is $165.64. The stock has a market capitalization of $203.18 billion, a price-to-earnings 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.

PepsiCo Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 3.66%. The ex-dividend date was Friday, December 6th. PepsiCo’s dividend payout ratio (DPR) is currently 79.94%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. cut their price target on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Wells Fargo & Company reduced their target price 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. Barclays cut their price objective on PepsiCo from $183.00 to $158.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Finally, StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $178.20.

PepsiCo Company 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.