Spire Wealth Management Trims Stake in PepsiCo, Inc. (NASDAQ:PEP)

Spire Wealth Management cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 30.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,984 shares of the company’s stock after selling 8,166 shares during the period. Spire Wealth Management’s holdings in PepsiCo were worth $2,887,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Highline Wealth Partners LLC purchased a new stake in PepsiCo in the 3rd quarter worth about $28,000. Legacy Investment Solutions LLC purchased a new stake in shares of PepsiCo in the third quarter valued at approximately $31,000. Rakuten Securities Inc. lifted its holdings in shares of PepsiCo by 93.2% in the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after buying an additional 96 shares during the period. ORG Wealth Partners LLC purchased a new position in shares of PepsiCo during the third quarter valued at $44,000. Finally, Global Wealth Strategies & Associates raised its holdings in shares of PepsiCo by 145.3% in the fourth quarter. Global Wealth Strategies & Associates now owns 390 shares of the company’s stock valued at $59,000 after acquiring an additional 231 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PEP. Royal Bank of Canada restated a “sector perform” rating and issued a $172.00 price target on shares of PepsiCo in a report on Wednesday, January 29th. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Barclays lowered their target price on PepsiCo from $183.00 to $158.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. JPMorgan Chase & Co. dropped their price target on shares of PepsiCo from $183.00 to $165.00 and set a “neutral” rating on the stock in a research report on Friday, January 24th. Finally, Wells Fargo & Company reduced 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. 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 company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $176.73.

PepsiCo Price Performance

Shares of NASDAQ:PEP opened at $150.69 on Monday. PepsiCo, Inc. has a one year low of $141.51 and a one year high of $183.41. The stock has a market cap of $206.75 billion, a PE ratio of 22.23, a price-to-earnings-growth ratio of 2.91 and a beta of 0.54. The business’s fifty day moving average price is $153.12 and its two-hundred day moving average price is $164.88. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89.

PepsiCo Dividend Announcement

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 dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date of this dividend was Friday, December 6th. PepsiCo’s dividend payout ratio is presently 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.