Premier Path Wealth Partners LLC Lowers Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Premier Path Wealth Partners LLC trimmed its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 4.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,613 shares of the company’s stock after selling 429 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in PepsiCo were worth $1,310,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. XTX Topco Ltd purchased a new position in PepsiCo in the second quarter worth about $1,707,000. Brighton Jones LLC raised its holdings in PepsiCo by 6.3% in the 2nd quarter. Brighton Jones LLC now owns 27,806 shares of the company’s stock worth $4,586,000 after acquiring an additional 1,655 shares during the last quarter. Ieq Capital LLC lifted its position in PepsiCo by 5.9% in the 2nd quarter. Ieq Capital LLC now owns 105,460 shares of the company’s stock valued at $17,394,000 after acquiring an additional 5,863 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in PepsiCo by 7.7% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 106,734 shares of the company’s stock valued at $17,604,000 after purchasing an additional 7,620 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in shares of PepsiCo by 0.5% in the second quarter. Canada Pension Plan Investment Board now owns 3,333,908 shares of the company’s stock worth $549,861,000 after purchasing an additional 17,800 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on PEP. Wells Fargo & Company reduced their price objective 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 decreased their price objective on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Barclays dropped their target price on shares of PepsiCo from $183.00 to $158.00 and set an “overweight” rating on the stock in a report on Friday. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Finally, Morgan Stanley cut PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price on the stock. in a research report on Friday, September 20th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $178.60.

PepsiCo Trading Up 1.2 %

Shares of PepsiCo stock opened at $148.25 on Friday. The company has a market capitalization of $203.40 billion, a P/E ratio of 21.87, a P/E/G ratio of 2.57 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. The company has a fifty day moving average of $155.37 and a 200 day moving average of $165.82. PepsiCo, Inc. has a fifty-two week low of $141.51 and a fifty-two week high of $183.41.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were paid a $1.355 dividend. The ex-dividend date was Friday, December 6th. This represents a $5.42 annualized dividend and a yield of 3.66%. PepsiCo’s payout ratio is 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.