Smith Salley Wealth Management Sells 2,057 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Smith Salley Wealth Management lessened its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 1.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 123,046 shares of the company's stock after selling 2,057 shares during the period. PepsiCo comprises approximately 1.2% of Smith Salley Wealth Management's investment portfolio, making the stock its 27th biggest position. Smith Salley Wealth Management's holdings in PepsiCo were worth $18,710,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of PEP. Global Wealth Strategies & Associates increased its holdings in shares of PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company's stock valued at $27,000 after purchasing an additional 59 shares during the period. Cross Staff Investments Inc grew its position in PepsiCo by 0.9% in the 3rd quarter. Cross Staff Investments Inc now owns 7,080 shares of the company's stock valued at $1,204,000 after buying an additional 60 shares in the last quarter. Paulson Wealth Management Inc. increased its stake in PepsiCo by 2.1% during the 3rd quarter. Paulson Wealth Management Inc. now owns 2,986 shares of the company's stock valued at $508,000 after buying an additional 60 shares during the period. LCM Capital Management Inc raised its position in shares of PepsiCo by 0.8% during the 3rd 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 in the last quarter. Finally, Demars Financial Group LLC lifted its stake in shares of PepsiCo by 1.1% in the 3rd quarter. Demars Financial Group LLC now owns 5,721 shares of the company's stock worth $973,000 after acquiring an additional 62 shares during the period. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PEP shares. TD Cowen decreased their target price on PepsiCo from $183.00 to $160.00 and set a "hold" rating for the company in a research note on Wednesday, January 8th. Redburn Atlantic upgraded shares of PepsiCo to a "strong sell" rating in a research report on Thursday, October 10th. Piper Sandler assumed coverage on shares of PepsiCo in a report on Tuesday, January 7th. They issued an "overweight" rating and a $171.00 target price on the stock. Wells Fargo & Company decreased their price target on shares of PepsiCo from $170.00 to $155.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 7th. Finally, Barclays cut their price objective on PepsiCo from $183.00 to $158.00 and set an "overweight" rating for the company in a research report on Friday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $178.60.

PepsiCo Stock Performance

PEP stock traded up $1.71 during midday trading on Friday, hitting $148.25. The stock had a trading volume of 7,213,692 shares, compared to its average volume of 5,895,834. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The stock has a 50-day simple moving average of $155.37 and a 200 day simple moving average of $165.86. The firm has a market capitalization 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were given a dividend of $1.355 per share. The ex-dividend date was Friday, December 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.66%. PepsiCo's dividend payout ratio (DPR) is presently 79.94%.

PepsiCo 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.