Folger Nolan Fleming Douglas Capital Management Inc. Reduces Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Folger Nolan Fleming Douglas Capital Management Inc. decreased its holdings in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 1.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 92,896 shares of the company's stock after selling 1,743 shares during the period. PepsiCo comprises approximately 1.5% of Folger Nolan Fleming Douglas Capital Management Inc.'s holdings, making the stock its 18th largest holding. Folger Nolan Fleming Douglas Capital Management Inc.'s holdings in PepsiCo were worth $14,126,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in PEP. Retirement Wealth Solutions LLC purchased a new position in PepsiCo during the 4th quarter worth $72,000. LongView Wealth Management increased its stake in shares of PepsiCo by 2.2% during the fourth quarter. LongView Wealth Management now owns 4,456 shares of the company's stock valued at $678,000 after buying an additional 95 shares during the period. Whitener Capital Management Inc. raised its holdings in shares of PepsiCo by 5.8% in the fourth quarter. Whitener Capital Management Inc. now owns 44,389 shares of the company's stock valued at $6,750,000 after acquiring an additional 2,447 shares in the last quarter. Somerset Trust Co grew its holdings in PepsiCo by 4.5% during the 4th quarter. Somerset Trust Co now owns 19,969 shares of the company's stock worth $3,036,000 after acquiring an additional 857 shares in the last quarter. Finally, Professional Advisory Services Inc. increased its position in PepsiCo by 9.5% during the 4th quarter. Professional Advisory Services Inc. now owns 164,239 shares of the company's stock valued at $24,974,000 after purchasing an additional 14,263 shares during the period. 73.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Piper Sandler initiated coverage on PepsiCo in a research report on Tuesday, January 7th. They issued an "overweight" rating and a $171.00 price target for the company. Morgan Stanley lowered shares of PepsiCo from an "overweight" rating to an "equal weight" rating and set a $185.00 price target for the company. in a research report on Friday, September 20th. Hsbc Global Res raised shares of PepsiCo to a "hold" rating in a research report on Thursday, October 10th. StockNews.com upgraded shares of PepsiCo from a "hold" rating to a "buy" rating in a research note on Tuesday, November 5th. Finally, Royal Bank of Canada reduced their price target on PepsiCo from $177.00 to $176.00 and set a "sector perform" rating on the stock in a research report on Friday, October 4th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $178.60.

PepsiCo Price Performance

Shares of PEP stock traded up $1.71 on Friday, reaching $148.25. 7,213,692 shares of the company were exchanged, compared to its average volume of 5,895,834. PepsiCo, Inc. has a 1 year low of $141.51 and a 1 year high of $183.41. The business has a 50-day moving average price of $155.37 and a 200 day moving average price of $165.83. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The company has a market cap of $203.40 billion, a price-to-earnings ratio of 21.87, a P/E/G ratio of 2.57 and a beta of 0.54.

PepsiCo Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Shareholders 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 dividend on an annualized basis and a yield of 3.66%. PepsiCo's payout ratio is 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.