PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Courier Capital LLC

Courier Capital LLC lowered its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 50,080 shares of the company’s stock after selling 843 shares during the quarter. Courier Capital LLC’s holdings in PepsiCo were worth $7,615,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Global Wealth Strategies & Associates grew its stake in shares of PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after purchasing an additional 59 shares during the period. Cross Staff Investments Inc grew its position in PepsiCo by 0.9% during the third quarter. Cross Staff Investments Inc now owns 7,080 shares of the company’s stock worth $1,204,000 after buying an additional 60 shares during the period. Paulson Wealth Management Inc. increased its holdings in PepsiCo by 2.1% in the third quarter. Paulson Wealth Management Inc. now owns 2,986 shares of the company’s stock valued at $508,000 after buying an additional 60 shares in the last quarter. LCM Capital Management Inc lifted its position in shares of PepsiCo by 0.8% during the 3rd quarter. LCM Capital Management Inc now owns 7,573 shares of the company’s stock valued at $1,288,000 after acquiring an additional 62 shares during the period. Finally, Demars Financial Group LLC grew its holdings in shares of PepsiCo by 1.1% in the 3rd quarter. Demars Financial Group LLC now owns 5,721 shares of the company’s stock worth $973,000 after acquiring an additional 62 shares during the period. 73.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on PEP. Deutsche Bank Aktiengesellschaft upgraded PepsiCo from a “hold” rating to a “buy” rating and boosted their target price for the stock from $179.00 to $184.00 in a research report on Thursday, December 12th. Piper Sandler assumed coverage on shares of PepsiCo in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price objective on the stock. Barclays reduced their price target on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Finally, Morgan Stanley cut PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price on the stock. in a report on Friday, September 20th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $180.64.

PepsiCo Trading Up 1.3 %

NASDAQ PEP opened at $144.50 on Tuesday. The company has a 50-day moving average of $156.92 and a 200-day moving average of $166.35. 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 12 month low of $141.51 and a 12 month high of $183.41. The company has a market cap of $198.25 billion, a P/E ratio of 21.31, a P/E/G ratio of 2.94 and a beta of 0.54.

PepsiCo Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were issued a $1.355 dividend. 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 3.75%. PepsiCo’s dividend payout ratio (DPR) is presently 79.94%.

PepsiCo 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.