Wealth Alliance Advisory Group LLC Cuts Stake in PepsiCo, Inc. (NASDAQ:PEP)

Wealth Alliance Advisory Group LLC cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 4.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,564 shares of the company’s stock after selling 586 shares during the quarter. Wealth Alliance Advisory Group LLC’s holdings in PepsiCo were worth $2,063,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Global Wealth Strategies & Associates lifted its holdings in shares of PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after buying an additional 59 shares during the period. Highline Wealth Partners LLC acquired a new position in PepsiCo during the 3rd quarter worth $28,000. Legacy Investment Solutions LLC bought a new stake in PepsiCo during the third quarter valued at about $31,000. Rakuten Securities Inc. increased its position in PepsiCo by 93.2% in the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after buying an additional 96 shares during the period. Finally, Mattson Financial Services LLC bought a new position in PepsiCo during the second quarter worth $34,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PEP. Deutsche Bank Aktiengesellschaft upgraded PepsiCo from a “hold” rating to a “buy” rating and boosted their price target for the company from $179.00 to $184.00 in a research note on Thursday, December 12th. Piper Sandler started coverage on PepsiCo in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 target price for the company. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Finally, TD Cowen lowered their target price on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $178.60.

PepsiCo Price Performance

Shares of PEP stock opened at $148.25 on Friday. The firm has a fifty day moving average of $155.37 and a 200-day moving average of $165.83. PepsiCo, Inc. has a 12-month low of $141.51 and a 12-month high of $183.41. 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 firm has a market capitalization of $203.40 billion, a price-to-earnings ratio of 21.87, a price-to-earnings-growth ratio of 2.57 and a beta of 0.54.

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were given a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date was Friday, December 6th. PepsiCo’s dividend payout ratio is currently 79.94%.

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.