Invesco LLC Cuts Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Invesco LLC decreased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 28.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,202 shares of the company’s stock after selling 1,659 shares during the quarter. Invesco LLC’s holdings in PepsiCo were worth $639,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Global Wealth Strategies & Associates lifted its stake in shares of PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after buying an additional 59 shares in the last quarter. Highline Wealth Partners LLC purchased a new stake in PepsiCo during the 3rd quarter valued at $28,000. Legacy Investment Solutions LLC bought a new stake in shares of PepsiCo in the 3rd quarter worth $31,000. Mattson Financial Services LLC bought a new position in shares of PepsiCo during the second quarter valued at $34,000. Finally, Rakuten Securities Inc. increased its holdings 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 in the last quarter. 73.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Barclays reduced their price target on shares of PepsiCo from $183.00 to $158.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Piper Sandler began coverage on PepsiCo in a report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price target on the stock. Wells Fargo & Company reduced their price objective on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft cut their price target on PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. Finally, Royal Bank of Canada dropped 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 investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $177.00.

PepsiCo Price Performance

NASDAQ PEP traded up $0.90 during trading hours on Wednesday, reaching $151.15. The company’s stock had a trading volume of 442,273 shares, compared to its average volume of 6,515,851. PepsiCo, Inc. has a 1 year low of $141.51 and a 1 year 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 company has a market capitalization of $207.37 billion, a price-to-earnings ratio of 22.29, a PEG ratio of 2.86 and a beta of 0.54. The firm’s 50-day moving average price is $153.68 and its 200-day moving average price is $165.17.

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 dividend of $1.355 per share. The ex-dividend date was Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.59%. PepsiCo’s dividend payout ratio is 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.