PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Griffin Asset Management Inc.

Griffin Asset Management Inc. trimmed its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 5.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 18,077 shares of the company’s stock after selling 1,038 shares during the quarter. Griffin Asset Management Inc.’s holdings in PepsiCo were worth $2,749,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PEP. State Street Corp grew its holdings in PepsiCo by 5.1% during the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock valued at $9,738,429,000 after buying an additional 2,775,679 shares during the last quarter. Geode Capital Management LLC boosted its stake in PepsiCo by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock worth $5,170,529,000 after buying an additional 543,558 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in PepsiCo by 5.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock valued at $3,632,413,000 after purchasing an additional 1,125,059 shares during the period. Franklin Resources Inc. increased its holdings in shares of PepsiCo by 21.1% during the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock worth $2,293,049,000 after buying an additional 2,264,445 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of PepsiCo by 2.7% in the 3rd quarter. Wellington Management Group LLP now owns 12,098,551 shares of the company’s stock valued at $2,057,359,000 after purchasing an additional 313,468 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

PEP has been the topic 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 on the stock in a report on Friday. UBS Group reduced their target price on PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Wells Fargo & Company lowered their price target on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. TD Cowen lowered 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, Redburn Atlantic upgraded shares of 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. Based on data from MarketBeat.com, PepsiCo currently has an average rating of “Hold” and an average target price of $177.00.

PepsiCo Stock Performance

Shares of PEP opened at $154.61 on Tuesday. The firm has a 50-day moving average price of $153.88 and a 200 day moving average price of $165.35. The firm has a market capitalization of $212.12 billion, a PE ratio of 22.80, a P/E/G 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. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96.

PepsiCo Dividend Announcement

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 dividend on an annualized basis and a yield of 3.51%. PepsiCo’s dividend payout ratio (DPR) 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.