PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Oak Harvest Investment Services

Oak Harvest Investment Services lowered its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 41.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 39,932 shares of the company’s stock after selling 28,853 shares during the period. Oak Harvest Investment Services’ holdings in PepsiCo were worth $6,072,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp boosted its stake in shares of PepsiCo by 5.1% during the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after acquiring an additional 2,775,679 shares in the last quarter. Geode Capital Management LLC lifted its stake in PepsiCo by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock valued at $5,170,529,000 after buying an additional 543,558 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in PepsiCo by 5.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock worth $3,632,413,000 after buying an additional 1,125,059 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of PepsiCo by 21.1% in the third quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock worth $2,293,049,000 after acquiring an additional 2,264,445 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of PepsiCo by 2.7% during the third quarter. Wellington Management Group LLP now owns 12,098,551 shares of the company’s stock valued at $2,057,359,000 after acquiring an additional 313,468 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on PEP shares. UBS Group lowered their target price on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a report on Thursday, October 10th. Piper Sandler started coverage on PepsiCo in a research report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 target price on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $172.00 price objective on shares of PepsiCo in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $176.73.

PepsiCo Stock Performance

PEP stock opened at $151.90 on Friday. The company has a market capitalization of $208.41 billion, a P/E ratio of 22.40, a PEG 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. The company has a 50-day simple moving average of $153.51 and a 200 day simple moving average of $165.07. PepsiCo, Inc. has a fifty-two week low of $141.51 and a fifty-two week high of $183.41.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were issued a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.57%. The ex-dividend date was Friday, December 6th. PepsiCo’s dividend payout ratio is 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.