DAVENPORT & Co LLC Has $84.20 Million Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

DAVENPORT & Co LLC trimmed its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 11.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 553,979 shares of the company’s stock after selling 74,773 shares during the period. DAVENPORT & Co LLC’s holdings in PepsiCo were worth $84,200,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Cross Staff Investments Inc boosted its holdings in shares of PepsiCo by 0.9% during the third quarter. Cross Staff Investments Inc now owns 7,080 shares of the company’s stock worth $1,204,000 after purchasing an additional 60 shares during the period. Paulson Wealth Management Inc. boosted its stake in shares of PepsiCo by 2.1% during the 3rd quarter. Paulson Wealth Management Inc. now owns 2,986 shares of the company’s stock valued at $508,000 after buying an additional 60 shares during the period. LCM Capital Management Inc grew its holdings in shares of PepsiCo by 0.8% during the 3rd quarter. LCM Capital Management Inc now owns 7,573 shares of the company’s stock valued at $1,288,000 after acquiring an additional 62 shares in the last quarter. Demars Financial Group LLC raised its holdings in shares of PepsiCo by 1.1% during the third quarter. Demars Financial Group LLC now owns 5,721 shares of the company’s stock worth $973,000 after acquiring an additional 62 shares in the last quarter. Finally, Sigma Investment Counselors Inc. boosted its position in PepsiCo by 1.6% during the third quarter. Sigma Investment Counselors Inc. now owns 4,310 shares of the company’s stock valued at $733,000 after purchasing an additional 66 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Price Performance

NASDAQ:PEP opened at $150.69 on Friday. 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 stock has a market cap of $206.75 billion, a P/E ratio of 22.23, a PEG ratio of 2.91 and a beta of 0.54. The company has a fifty day moving average price of $153.12 and a 200 day moving average price of $164.88. PepsiCo, Inc. has a one year low of $141.51 and a one year high of $183.41.

PepsiCo Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have recently weighed in on PEP. Wells Fargo & Company cut their price target on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Barclays dropped their price target on shares of PepsiCo from $183.00 to $158.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $172.00 price objective on shares of PepsiCo in a report on Wednesday. Finally, JPMorgan Chase & Co. cut their target price on PepsiCo from $183.00 to $165.00 and set a “neutral” rating on the stock in a report on Friday, January 24th. 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 company’s stock. According to data from MarketBeat.com, PepsiCo currently has an average rating of “Hold” and an average price target 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.