PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Concord Wealth Partners

Concord Wealth Partners reduced its stake in PepsiCo, Inc. (NASDAQ:PEP) by 19.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,394 shares of the company’s stock after selling 3,724 shares during the period. Concord Wealth Partners’ holdings in PepsiCo were worth $2,341,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC purchased a new stake in shares of PepsiCo during the 3rd quarter valued at about $28,000. Legacy Investment Solutions LLC purchased a new stake in shares of PepsiCo during the third quarter valued at approximately $31,000. Mattson Financial Services LLC acquired a new position in shares of PepsiCo during the second quarter worth $34,000. Rakuten Securities Inc. boosted its stake in shares of 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 during the period. Finally, ORG Wealth Partners LLC purchased a new stake in PepsiCo during the 3rd quarter worth $44,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Barclays lowered their target price on PepsiCo from $183.00 to $158.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Royal Bank of Canada reiterated a “sector perform” rating and set a $172.00 price objective on shares of PepsiCo in a research note on Wednesday. Finally, UBS Group cut their target price on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $176.73.

PepsiCo Trading Down 0.8 %

Shares of NASDAQ:PEP opened at $150.69 on Friday. The company’s 50-day moving average price is $153.35 and its 200 day moving average price is $164.97. PepsiCo, Inc. has a fifty-two week low of $141.51 and a fifty-two week high of $183.41. The company has a market cap of $206.75 billion, a PE ratio of 22.23, a P/E/G ratio of 2.91 and a beta of 0.54. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96.

PepsiCo Dividend Announcement

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