ZWJ Investment Counsel Inc. Sells 504 Shares of PepsiCo, Inc. (NASDAQ:PEP)

ZWJ Investment Counsel Inc. reduced its stake in PepsiCo, Inc. (NASDAQ:PEP) by 3.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,797 shares of the company’s stock after selling 504 shares during the quarter. ZWJ Investment Counsel Inc.’s holdings in PepsiCo were worth $2,098,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of PEP. 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 bought a new stake in PepsiCo during the 2nd quarter valued at approximately $34,000. Institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft upgraded PepsiCo from a “hold” rating to a “buy” rating and upped their price target for the stock from $179.00 to $184.00 in a research note on Thursday, December 12th. Wells Fargo & Company cut their target price on shares of PepsiCo from $170.00 to $155.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Barclays decreased their price target on shares of PepsiCo from $183.00 to $158.00 and set an “overweight” rating on the stock in a research note on Friday. JPMorgan Chase & Co. reduced their target price on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Finally, StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, PepsiCo currently has a consensus rating of “Hold” and a consensus price target of $178.60.

PepsiCo Trading Up 1.2 %

PEP stock opened at $148.25 on Tuesday. The firm’s fifty day simple moving average is $155.37 and its two-hundred day simple moving average is $165.86. The stock has a market capitalization of $203.40 billion, a price-to-earnings ratio of 21.87, a price-to-earnings-growth ratio of 2.74 and a beta of 0.54. 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, Inc. has a twelve month low of $141.51 and a twelve month high of $183.41.

PepsiCo Announces Dividend

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