Fifth Third Wealth Advisors LLC Sells 1,965 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Fifth Third Wealth Advisors LLC decreased its position in PepsiCo, Inc. (NASDAQ:PEP) by 7.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,252 shares of the company’s stock after selling 1,965 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in PepsiCo were worth $3,992,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Empowered Funds LLC grew its position in shares of PepsiCo by 9.2% in the 3rd quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock worth $16,968,000 after buying an additional 8,406 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in PepsiCo by 11.0% in the third quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock valued at $59,549,000 after acquiring an additional 34,633 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV increased its position in PepsiCo by 12.8% during the 4th quarter. Hudson Valley Investment Advisors Inc. ADV now owns 41,580 shares of the company’s stock valued at $6,323,000 after purchasing an additional 4,712 shares during the period. IHT Wealth Management LLC raised its stake in PepsiCo by 19.3% in the third quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock worth $5,493,000 after buying an additional 5,220 shares in the last quarter. Finally, Meridian Wealth Management LLC purchased a new stake in PepsiCo in the third quarter worth about $9,589,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Stock Performance

PEP stock opened at $144.95 on Wednesday. The company has a market cap of $198.87 billion, a P/E ratio of 21.38, a price-to-earnings-growth ratio of 2.94 and a beta of 0.54. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. PepsiCo, Inc. has a 1 year low of $141.51 and a 1 year high of $183.41. The stock’s fifty day moving average price is $156.46 and its 200-day moving average price is $166.20.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were given a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.74%. The ex-dividend date of this dividend was Friday, December 6th. PepsiCo’s payout ratio is currently 79.94%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price for the company. in a research report on Friday, September 20th. JPMorgan Chase & Co. lowered their price objective on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Wells Fargo & Company lowered their price target on shares of PepsiCo from $170.00 to $155.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Finally, Royal Bank of Canada cut their price objective on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, PepsiCo has an average rating of “Hold” and an average target price of $180.64.

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.