Smith Salley Wealth Management Sells 2,057 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Smith Salley Wealth Management cut its stake in PepsiCo, Inc. (NASDAQ:PEP) by 1.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 123,046 shares of the company’s stock after selling 2,057 shares during the quarter. PepsiCo comprises about 1.2% of Smith Salley Wealth Management’s holdings, making the stock its 27th biggest holding. Smith Salley Wealth Management’s holdings in PepsiCo were worth $18,710,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Global Wealth Strategies & Associates lifted its stake in shares of PepsiCo by 59.0% in 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 period. Highline Wealth Partners LLC bought a new position in PepsiCo in the third quarter worth $28,000. Legacy Investment Solutions LLC purchased a new position in PepsiCo during the third quarter valued at $31,000. Mattson Financial Services LLC bought a new stake in shares of PepsiCo during the 2nd quarter valued at $34,000. Finally, Rakuten Securities Inc. increased its stake in shares of PepsiCo by 93.2% in the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after acquiring an additional 96 shares in the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PEP has been the topic of several research reports. Royal Bank of Canada dropped their price objective on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. UBS Group cut their target price on PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a research note on Thursday. Bank of America dropped their price target on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Finally, TD Cowen dropped their target price on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $178.60.

PepsiCo Stock Up 1.2 %

Shares of PEP stock opened at $148.25 on Friday. 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 stock has a market cap of $203.40 billion, a P/E ratio of 21.87, a P/E/G ratio of 2.57 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 company has a 50 day simple moving average of $155.37 and a two-hundred day simple moving average of $165.83.

PepsiCo Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were paid 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 dividend payout ratio (DPR) is currently 79.94%.

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.