Horst & Graben Wealth Management LLC Sells 279 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Horst & Graben Wealth Management LLC decreased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 11.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,145 shares of the company’s stock after selling 279 shares during the period. Horst & Graben Wealth Management LLC’s holdings in PepsiCo were worth $326,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Sunesis Advisors LLC grew its holdings in shares of PepsiCo by 1.6% during the 4th quarter. Sunesis Advisors LLC now owns 6,256 shares of the company’s stock worth $951,000 after acquiring an additional 100 shares during the period. Citadel Investment Advisory Inc. grew its stake in PepsiCo by 0.9% in the fourth quarter. Citadel Investment Advisory Inc. now owns 16,671 shares of the company’s stock worth $2,535,000 after purchasing an additional 150 shares during the period. Level Wealth Management LLC bought a new position in PepsiCo in the fourth quarter worth $227,000. McAdam LLC lifted its position in PepsiCo by 12.3% during the fourth quarter. McAdam LLC now owns 2,314 shares of the company’s stock valued at $352,000 after buying an additional 253 shares during the period. Finally, Round Rock Advisors LLC grew its position in shares of PepsiCo by 8.3% in the 4th quarter. Round Rock Advisors LLC now owns 10,423 shares of the company’s stock worth $1,585,000 after buying an additional 802 shares during the period. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

NASDAQ PEP opened at $150.69 on Friday. The stock has a market capitalization of $206.75 billion, a price-to-earnings ratio of 22.23, a PEG ratio of 2.91 and a beta of 0.54. PepsiCo, Inc. has a 1-year low of $141.51 and a 1-year high of $183.41. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. The business’s fifty day moving average price is $153.12 and its 200-day moving average price is $164.88.

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were given a $1.355 dividend. The ex-dividend date was Friday, December 6th. This represents a $5.42 annualized dividend and a yield of 3.60%. PepsiCo’s payout ratio is 79.94%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Piper Sandler assumed coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price target for the company. JPMorgan Chase & Co. cut their price target on PepsiCo from $183.00 to $165.00 and set a “neutral” rating on the stock in a research note on Friday, January 24th. TD Cowen lowered their price objective on PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Royal Bank of Canada reissued a “sector perform” rating and issued a $172.00 target price on shares of PepsiCo in a research note on Wednesday. Finally, Hsbc Global Res raised PepsiCo to a “hold” rating in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $176.73.

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.