Sandy Cove Advisors LLC Decreases Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Sandy Cove Advisors LLC cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 5.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 4,505 shares of the company’s stock after selling 266 shares during the period. Sandy Cove Advisors LLC’s holdings in PepsiCo were worth $685,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PEP. Empowered Funds LLC raised its stake in PepsiCo by 9.2% in the 3rd quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock valued at $16,968,000 after purchasing an additional 8,406 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of PepsiCo by 104.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,705,574 shares of the company’s stock worth $259,350,000 after buying an additional 870,451 shares in the last quarter. Janus Henderson Group PLC raised its holdings in PepsiCo by 11.0% in the 3rd 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 during the last quarter. Hudson Valley Investment Advisors Inc. ADV lifted its stake in PepsiCo by 12.8% in the 4th quarter. Hudson Valley Investment Advisors Inc. ADV now owns 41,580 shares of the company’s stock worth $6,323,000 after purchasing an additional 4,712 shares in the last quarter. Finally, IHT Wealth Management LLC boosted its holdings in shares of PepsiCo by 19.3% during the 3rd quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock worth $5,493,000 after purchasing an additional 5,220 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Performance

Shares of PEP stock opened at $148.25 on Friday. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41. The firm has a 50 day moving average of $155.37 and a two-hundred day moving average of $165.83. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The stock has a market capitalization of $203.40 billion, a PE ratio of 21.87, a P/E/G ratio of 2.57 and a beta of 0.54.

PepsiCo Dividend Announcement

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 dividend of $1.355 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $5.42 annualized dividend and a yield of 3.66%. PepsiCo’s dividend payout ratio (DPR) is 79.94%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PEP shares. TD Cowen lowered their price objective on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Barclays dropped their price objective on shares of PepsiCo from $183.00 to $158.00 and set an “overweight” rating for the company in a report on Friday. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft upgraded shares of PepsiCo from a “hold” rating to a “buy” rating and raised their price target for the stock from $179.00 to $184.00 in a report on Thursday, December 12th. Finally, JPMorgan Chase & Co. decreased their price objective on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, PepsiCo has an average rating of “Hold” and a consensus target price of $178.60.

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.