InTrack Investment Management Inc Sells 3,852 Shares of PepsiCo, Inc. (NASDAQ:PEP)

InTrack Investment Management Inc cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 50.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,726 shares of the company's stock after selling 3,852 shares during the quarter. InTrack Investment Management Inc's holdings in PepsiCo were worth $540,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of PEP. Global Wealth Strategies & Associates increased its stake in 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 during the period. Cross Staff Investments Inc boosted its holdings in shares of PepsiCo by 0.9% in the third quarter. Cross Staff Investments Inc now owns 7,080 shares of the company's stock worth $1,204,000 after buying an additional 60 shares during the period. Paulson Wealth Management Inc. boosted its holdings in shares of PepsiCo by 2.1% in the third quarter. Paulson Wealth Management Inc. now owns 2,986 shares of the company's stock worth $508,000 after buying an additional 60 shares during the period. LCM Capital Management Inc boosted its holdings in shares of PepsiCo by 0.8% in the third quarter. LCM Capital Management Inc now owns 7,573 shares of the company's stock worth $1,288,000 after buying an additional 62 shares during the period. Finally, Demars Financial Group LLC boosted its holdings in shares of PepsiCo by 1.1% during the third quarter. Demars Financial Group LLC now owns 5,721 shares of the company's stock worth $973,000 after purchasing an additional 62 shares during the period. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on PEP shares. Redburn Atlantic upgraded shares of PepsiCo to a "strong sell" rating in a report on Thursday, October 10th. Morgan Stanley lowered shares of PepsiCo from an "overweight" rating to an "equal weight" rating and set a $185.00 price objective on the stock. in a research report on Friday, September 20th. Royal Bank of Canada cut their price objective on shares of PepsiCo from $177.00 to $176.00 and set a "sector perform" rating on the stock in a research report on Friday, October 4th. JPMorgan Chase & Co. cut their price objective on shares of PepsiCo from $185.00 to $183.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 9th. Finally, TD Cowen dropped their price target on shares of PepsiCo from $183.00 to $160.00 and set a "hold" rating on the stock in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $178.60.

PepsiCo Price Performance

Shares of NASDAQ PEP traded up $1.71 during mid-day trading on Friday, reaching $148.25. The company had a trading volume of 7,213,692 shares, compared to its average volume of 5,895,834. The firm has a market cap of $203.40 billion, a price-to-earnings ratio of 21.87, a PEG ratio of 2.57 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. The business's 50-day simple moving average is $155.37 and its 200 day simple moving average is $165.82. PepsiCo, Inc. has a one year low of $141.51 and a one year high of $183.41.

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were given a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date of this dividend was Friday, December 6th. 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.