AEGON ASSET MANAGEMENT UK Plc Sells 54,898 Shares of PepsiCo, Inc. (NASDAQ:PEP)

AEGON ASSET MANAGEMENT UK Plc cut its stake in PepsiCo, Inc. (NASDAQ:PEP) by 13.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 367,980 shares of the company’s stock after selling 54,898 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc’s holdings in PepsiCo were worth $55,949,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Global Wealth Strategies & Associates boosted its holdings in PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares during the period. Highline Wealth Partners LLC purchased a new stake in shares of PepsiCo in the third quarter worth $28,000. Legacy Investment Solutions LLC bought a new stake in PepsiCo during the third quarter valued at $31,000. Rakuten Securities Inc. grew its position in PepsiCo by 93.2% during the third 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. Finally, Mattson Financial Services LLC purchased a new stake in shares of PepsiCo in the 2nd quarter valued at about $34,000. 73.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on PEP shares. Piper Sandler assumed coverage on PepsiCo in a report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price objective for the company. Barclays decreased their price target on shares of PepsiCo from $183.00 to $158.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. UBS Group dropped their price objective on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft dropped 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. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $177.00.

PepsiCo Stock Performance

NASDAQ:PEP opened at $149.12 on Friday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. PepsiCo, Inc. has a fifty-two week low of $141.51 and a fifty-two week high of $183.41. The firm has a market cap of $204.59 billion, a PE ratio of 21.99, a price-to-earnings-growth ratio of 2.86 and a beta of 0.54. The business has a 50 day moving average price of $153.88 and a 200-day moving average price of $165.31.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were issued a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date was Friday, December 6th. PepsiCo’s dividend payout ratio (DPR) is presently 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.