Revolve Wealth Partners LLC Trims Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Revolve Wealth Partners LLC reduced its position in PepsiCo, Inc. (NASDAQ:PEP) by 17.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,694 shares of the company’s stock after selling 347 shares during the period. Revolve Wealth Partners LLC’s holdings in PepsiCo were worth $258,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Global Wealth Strategies & Associates grew its holdings in PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after buying an additional 59 shares in the last quarter. Cross Staff Investments Inc increased its holdings in PepsiCo by 0.9% in the 3rd quarter. Cross Staff Investments Inc now owns 7,080 shares of the company’s stock valued at $1,204,000 after acquiring an additional 60 shares during the last quarter. Paulson Wealth Management Inc. lifted its stake in PepsiCo by 2.1% in the 3rd quarter. Paulson Wealth Management Inc. now owns 2,986 shares of the company’s stock worth $508,000 after purchasing an additional 60 shares in the last quarter. LCM Capital Management Inc grew its position in shares of PepsiCo by 0.8% during the third quarter. LCM Capital Management Inc now owns 7,573 shares of the company’s stock valued at $1,288,000 after purchasing an additional 62 shares in the last quarter. Finally, Demars Financial Group LLC increased its stake in PepsiCo by 1.1% in the 3rd quarter. Demars Financial Group LLC now owns 5,721 shares of the company’s stock worth $973,000 after acquiring an additional 62 shares during the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Trading Down 2.8 %

Shares of NASDAQ PEP opened at $150.25 on Wednesday. PepsiCo, Inc. has a twelve month low of $141.51 and a twelve month high of $183.41. The firm has a market cap of $206.14 billion, a PE ratio of 22.16, a price-to-earnings-growth ratio of 2.86 and a beta of 0.54. The business has a fifty day simple moving average of $153.81 and a two-hundred day simple moving average of $165.28. 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 Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date was Friday, December 6th. PepsiCo’s dividend payout ratio (DPR) is presently 79.94%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PEP. UBS Group decreased their target price on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Royal Bank of Canada decreased their price target on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. Piper Sandler began coverage on shares of PepsiCo in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 target price on the stock. Finally, TD Cowen cut their price target on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $177.00.

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.