Merrion Investment Management Co LLC Sells 1,550 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Merrion Investment Management Co LLC decreased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 43.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,045 shares of the company’s stock after selling 1,550 shares during the period. Merrion Investment Management Co LLC’s holdings in PepsiCo were worth $316,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of PEP. Global Wealth Strategies & Associates boosted its holdings in shares of PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares during the last quarter. Highline Wealth Partners LLC bought a new position in shares of PepsiCo during the 3rd quarter valued at about $28,000. Legacy Investment Solutions LLC bought a new position in shares of PepsiCo during the 3rd quarter valued at about $31,000. Rakuten Securities Inc. boosted its holdings in shares of PepsiCo by 93.2% during the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after purchasing an additional 96 shares during the last quarter. Finally, Mattson Financial Services LLC purchased a new stake in shares of PepsiCo during the 2nd quarter valued at about $34,000. Institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

NASDAQ PEP opened at $150.37 on Thursday. 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 firm’s 50 day moving average price is $153.68 and its 200-day moving average price is $165.17. PepsiCo, Inc. has a 52-week low of $141.51 and a 52-week high of $183.41. The company has a market cap of $206.31 billion, a PE ratio of 22.18, a P/E/G ratio of 2.86 and a beta of 0.54.

PepsiCo Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were paid a dividend of $1.355 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.60%. PepsiCo’s dividend payout ratio is presently 79.94%.

Analysts Set New Price Targets

PEP has been the topic of several recent research reports. TD Cowen decreased their target price on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Wells Fargo & Company reduced their price objective on shares of PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Finally, UBS Group reduced their price objective on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. 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 company’s stock. According to MarketBeat.com, PepsiCo presently has a consensus rating of “Hold” and an average target price of $176.73.

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.