PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Drive Wealth Management LLC

Drive Wealth Management LLC decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 62.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,624 shares of the company’s stock after selling 2,685 shares during the quarter. Drive Wealth Management LLC’s holdings in PepsiCo were worth $250,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Global Wealth Strategies & Associates lifted its holdings in PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after acquiring an additional 59 shares during the period. Highline Wealth Partners LLC acquired a new position in PepsiCo in the third quarter valued at approximately $28,000. Legacy Investment Solutions LLC acquired a new position in PepsiCo in the third quarter valued at approximately $31,000. Mattson Financial Services LLC acquired a new position in PepsiCo in the second quarter valued at approximately $34,000. Finally, Rakuten Securities Inc. lifted its holdings in PepsiCo by 93.2% in the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after acquiring an additional 96 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on PEP shares. Wells Fargo & Company cut their price objective on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. JPMorgan Chase & Co. cut their price objective on PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a research report on Friday. TD Cowen cut their price objective on PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Finally, Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. 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 MarketBeat, PepsiCo has a consensus rating of “Hold” and an average price target of $177.00.

PepsiCo Stock Up 3.7 %

Shares of NASDAQ:PEP opened at $154.61 on Tuesday. 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 business has a fifty day moving average of $153.88 and a two-hundred day moving average of $165.35. The stock has a market cap of $212.12 billion, a P/E ratio of 22.80, a PEG ratio of 2.86 and a beta of 0.54. 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 announced 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 annualized dividend and a yield of 3.51%. The ex-dividend date was Friday, December 6th. PepsiCo’s payout ratio is currently 79.94%.

PepsiCo Company 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.