Harbor Investment Advisory LLC Cuts Position in PepsiCo, Inc. (NASDAQ:PEP)

Harbor Investment Advisory LLC lessened its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 26.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,436 shares of the company's stock after selling 5,412 shares during the period. Harbor Investment Advisory LLC's holdings in PepsiCo were worth $2,347,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Global Wealth Strategies & Associates lifted its stake in shares of PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company's stock worth $27,000 after buying an additional 59 shares in the last quarter. Highline Wealth Partners LLC bought a new stake in shares of PepsiCo in the 3rd quarter worth $28,000. Legacy Investment Solutions LLC purchased a new stake in shares of PepsiCo during the third quarter valued at $31,000. Rakuten Securities Inc. increased its holdings in 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 in the last quarter. Finally, Mattson Financial Services LLC bought a new position in PepsiCo during the 2nd quarter valued at about $34,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on PEP shares. Piper Sandler initiated coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They set an "overweight" rating and a $171.00 price objective on the stock. StockNews.com raised shares of PepsiCo from a "hold" rating to a "buy" rating in a report on Tuesday, November 5th. Barclays dropped 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. Redburn Atlantic upgraded PepsiCo to a "strong sell" rating in a research report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft raised PepsiCo from a "hold" rating to a "buy" rating and raised their price objective for the stock from $179.00 to $184.00 in a research note on Thursday, December 12th. One equities 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 MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $178.60.

PepsiCo Stock Performance

PEP traded up $0.30 during trading on Tuesday, hitting $148.55. The stock had a trading volume of 7,449,832 shares, compared to its average volume of 7,135,458. The company's 50-day moving average price is $155.05 and its 200 day moving average price is $165.76. PepsiCo, Inc. has a twelve month low of $141.51 and a twelve month high of $183.41. The firm has a market capitalization of $203.81 billion, a P/E ratio of 21.91, a PEG ratio of 2.74 and a beta of 0.54. 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 disclosed a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were given 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 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.