Northeast Investment Management trimmed its stake in shares of PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 5.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 87,270 shares of the company’s stock after selling 4,781 shares during the period. Northeast Investment Management’s holdings in PepsiCo were worth $13,270,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of the business. Highline Wealth Partners LLC purchased a new position in PepsiCo in the 3rd quarter valued at about $28,000. Legacy Investment Solutions LLC purchased a new position in PepsiCo in the 3rd quarter valued at about $31,000. Rakuten Securities Inc. lifted its position in shares of PepsiCo by 93.2% during the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after purchasing an additional 96 shares during the last quarter. Bay Harbor Wealth Management LLC bought a new position in shares of PepsiCo during the fourth quarter worth about $34,000. Finally, ORG Wealth Partners LLC bought a new position in shares of PepsiCo during the third quarter worth about $44,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.
PepsiCo Trading Down 0.5 %
PEP opened at $144.58 on Friday. The company’s 50 day moving average is $151.42 and its 200-day moving average is $164.10. The company has a market cap of $198.29 billion, a P/E ratio of 20.80, a PEG ratio of 2.89 and a beta of 0.54. PepsiCo, Inc. has a 1-year low of $141.51 and a 1-year high of $183.41. The company has a current ratio of 0.82, a quick ratio of 0.70 and a debt-to-equity ratio of 2.05.
PepsiCo Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be paid a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date is Friday, March 7th. PepsiCo’s dividend payout ratio is currently 77.99%.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on the company. TD Cowen cut their target price on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. HSBC decreased their price objective on shares of PepsiCo from $186.00 to $170.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. CICC Research reiterated a “market perform” rating on shares of PepsiCo in a report on Friday. Morgan Stanley cut their target price on shares of PepsiCo from $185.00 to $168.00 and set an “equal weight” rating for the company in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, PepsiCo currently has a consensus rating of “Hold” and an average price target of $171.47.
View Our Latest Stock Analysis on PEP
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.
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