Spinnaker Investment Group LLC Sells 426 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Spinnaker Investment Group LLC cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 12.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,075 shares of the company’s stock after selling 426 shares during the period. Spinnaker Investment Group LLC’s holdings in PepsiCo were worth $468,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Global Wealth Strategies & Associates lifted its stake in shares of 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. Highline Wealth Partners LLC purchased a new position in shares of PepsiCo in the third quarter valued at about $28,000. Legacy Investment Solutions LLC bought a new position in shares of PepsiCo in the third quarter worth about $31,000. Rakuten Securities Inc. grew its position 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 purchasing an additional 96 shares in the last quarter. Finally, Mattson Financial Services LLC purchased a new position in PepsiCo in the 2nd quarter worth approximately $34,000. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

Shares of NASDAQ:PEP opened at $148.62 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a 12 month low of $141.51 and a 12 month high of $183.41. The company has a market capitalization of $203.91 billion, a price-to-earnings ratio of 21.92, a PEG ratio of 2.86 and a beta of 0.54. The firm’s 50-day moving average is $154.40 and its 200 day moving average is $165.52.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were issued a $1.355 dividend. The ex-dividend date was Friday, December 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.65%. PepsiCo’s payout ratio is 79.94%.

Analyst Ratings Changes

PEP has been the topic of several recent analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Wells Fargo & Company decreased their price target on shares of PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Bank of America decreased their target price on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Finally, UBS Group reduced 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. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $178.20.

PepsiCo 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.