Ritholtz Wealth Management Has $2 Million Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Ritholtz Wealth Management lowered its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 20.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,130 shares of the company's stock after selling 3,308 shares during the quarter. Ritholtz Wealth Management's holdings in PepsiCo were worth $1,997,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of PEP. Global Wealth Strategies & Associates raised its position in shares of PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company's stock worth $27,000 after purchasing an additional 59 shares during the period. Cross Staff Investments Inc increased its stake in PepsiCo by 0.9% during the 3rd quarter. Cross Staff Investments Inc now owns 7,080 shares of the company's stock worth $1,204,000 after purchasing an additional 60 shares in the last quarter. Paulson Wealth Management Inc. raised its holdings in PepsiCo by 2.1% during the 3rd 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 lifted its stake in PepsiCo by 0.8% in the third quarter. LCM Capital Management Inc now owns 7,573 shares of the company's stock valued at $1,288,000 after buying an additional 62 shares in the last quarter. Finally, Demars Financial Group LLC boosted its holdings in shares of PepsiCo by 1.1% in the third quarter. Demars Financial Group LLC now owns 5,721 shares of the company's stock valued at $973,000 after buying an additional 62 shares during the period. Hedge funds and other institutional investors own 73.07% of the company's stock.

PepsiCo Stock Performance

PEP stock traded up $1.71 during midday trading on Friday, reaching $148.25. 7,213,692 shares of the company were exchanged, compared to its average volume of 5,895,834. The firm has a market capitalization of $203.40 billion, a price-to-earnings ratio of 21.87, a price-to-earnings-growth ratio of 2.57 and a beta of 0.54. The business has a 50-day moving average price of $155.37 and a two-hundred day moving average price of $165.86. PepsiCo, Inc. has a one year low of $141.51 and a one year 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.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were issued 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 dividend payout ratio is presently 79.94%.

Analyst Upgrades and Downgrades

Several research firms recently commented on PEP. Redburn Atlantic raised shares of PepsiCo to a "strong sell" rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. cut their price target on PepsiCo from $185.00 to $183.00 and set a "neutral" rating on the stock in a report on Wednesday, October 9th. Bank of America decreased their price objective on PepsiCo from $190.00 to $185.00 and set a "buy" rating for the company in a report on Monday, September 30th. Piper Sandler initiated coverage on PepsiCo in a research note on Tuesday, January 7th. They issued an "overweight" rating and a $171.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft raised shares of PepsiCo from a "hold" rating to a "buy" rating and raised their price target 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 assigned a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $178.60.

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.