PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. lessened its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 25.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 10,268 shares of the company's stock after selling 3,503 shares during the period. Hennion & Walsh Asset Management Inc.'s holdings in PepsiCo were worth $1,561,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Global Wealth Strategies & Associates boosted its stake in shares of PepsiCo by 59.0% in 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 during the period. Highline Wealth Partners LLC acquired a new stake in PepsiCo in the third quarter valued at $28,000. Legacy Investment Solutions LLC acquired a new position in shares of PepsiCo during the 3rd quarter worth about $31,000. Mattson Financial Services LLC purchased a new position in shares of PepsiCo in the 2nd quarter valued at about $34,000. Finally, Rakuten Securities Inc. raised its position in shares of 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 in the last quarter. Hedge funds and other institutional investors own 73.07% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on PEP. Piper Sandler assumed coverage on shares of PepsiCo in a research note on Tuesday, January 7th. They issued an "overweight" rating and a $171.00 price target on the stock. Wells Fargo & Company reduced their target price on PepsiCo from $170.00 to $155.00 and set an "equal weight" rating for the company in a report on Tuesday, January 7th. JPMorgan Chase & Co. decreased their price objective on PepsiCo from $185.00 to $183.00 and set a "neutral" rating for the company in a report on Wednesday, October 9th. Bank of America reduced their price target on shares of PepsiCo from $190.00 to $185.00 and set a "buy" rating for the company in a research report on Monday, September 30th. Finally, Redburn Atlantic raised shares of PepsiCo to a "strong sell" rating in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $178.60.

PepsiCo Trading Up 1.2 %

NASDAQ:PEP traded up $1.71 on Friday, reaching $148.25. The stock had a trading volume of 7,213,692 shares, compared to its average volume of 5,895,834. 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, Inc. has a 12-month low of $141.51 and a 12-month high of $183.41. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. The firm's fifty day moving average is $155.37 and its two-hundred day moving average is $165.86.

PepsiCo Announces Dividend

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 $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date was Friday, December 6th. PepsiCo's payout ratio is 79.94%.

About PepsiCo

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.