West Coast Financial LLC Has $8.79 Million Stake in PepsiCo, Inc. (NASDAQ:PEP)

West Coast Financial LLC cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 32.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 57,804 shares of the company’s stock after selling 27,567 shares during the quarter. West Coast Financial LLC’s holdings in PepsiCo were worth $8,790,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Global Wealth Strategies & Associates boosted its stake in shares of PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares in the last quarter. Highline Wealth Partners LLC bought a new position in PepsiCo in the 3rd quarter valued at approximately $28,000. Legacy Investment Solutions LLC acquired a new stake in PepsiCo during the 3rd quarter worth approximately $31,000. Rakuten Securities Inc. grew its holdings in PepsiCo by 93.2% during the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after acquiring an additional 96 shares during the last quarter. Finally, Mattson Financial Services LLC acquired a new position in PepsiCo in the 2nd quarter valued at approximately $34,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PEP shares. UBS Group cut their price target on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a report on Thursday. Deutsche Bank Aktiengesellschaft upgraded PepsiCo from a “hold” rating to a “buy” rating and upped their price target for the company from $179.00 to $184.00 in a research report on Thursday, December 12th. Wells Fargo & Company lowered their price objective on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Finally, TD Cowen lowered their price target 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. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $180.27.

PepsiCo Trading Up 1.2 %

NASDAQ:PEP opened at $146.58 on Friday. The firm has a fifty day simple moving average of $156.06 and a two-hundred day simple moving average of $166.05. PepsiCo, Inc. has a 12 month low of $141.51 and a 12 month high of $183.41. The stock has a market capitalization of $201.11 billion, a price-to-earnings ratio of 21.62, a PEG ratio of 2.57 and a beta of 0.54. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were given a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date of this dividend was Friday, December 6th. PepsiCo’s payout ratio is 79.94%.

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.