Hofer & Associates. Inc Has $439,000 Position in PepsiCo, Inc. (NASDAQ:PEP)

Hofer & Associates. Inc trimmed its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,887 shares of the company’s stock after selling 90 shares during the quarter. Hofer & Associates. Inc’s holdings in PepsiCo were worth $439,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Highline Wealth Partners LLC bought a new stake in PepsiCo in the 3rd quarter valued at $28,000. Legacy Investment Solutions LLC acquired a new stake in shares of PepsiCo in the 3rd quarter valued at about $31,000. Mattson Financial Services LLC bought a new stake in shares of PepsiCo in the second quarter valued at about $34,000. Rakuten Securities Inc. grew its holdings in shares of 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, ORG Wealth Partners LLC bought a new position in shares of PepsiCo during the 3rd quarter worth approximately $44,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Ratings Changes

PEP has been the subject of several recent research reports. JPMorgan Chase & Co. reduced their target price on shares of PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a report on Friday, January 24th. Piper Sandler assumed coverage on PepsiCo in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price target for the company. UBS Group dropped their price objective on PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. TD Cowen decreased their target price on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Finally, 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 report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, PepsiCo presently has an average rating of “Hold” and an average target price of $176.73.

PepsiCo Price Performance

PepsiCo stock opened at $150.69 on Friday. The stock has a fifty day moving average of $153.35 and a 200-day moving average of $164.97. The stock has a market capitalization of $206.75 billion, a P/E ratio of 22.23, a price-to-earnings-growth ratio of 2.91 and a beta of 0.54. 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 52 week low of $141.51 and a 52 week high of $183.41.

PepsiCo Dividend Announcement

The business also recently disclosed 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 yield of 3.60%. The ex-dividend date of this dividend was Friday, December 6th. PepsiCo’s 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.