Trust Co of Kansas reduced its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 47.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,939 shares of the company's stock after selling 2,603 shares during the quarter. Trust Co of Kansas' holdings in PepsiCo were worth $447,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the company. Canoe Financial LP grew its position in PepsiCo by 19.8% in the fourth quarter. Canoe Financial LP now owns 114,240 shares of the company's stock worth $17,371,000 after buying an additional 18,873 shares during the last quarter. B & T Capital Management DBA Alpha Capital Management raised its position in shares of PepsiCo by 5.2% during the fourth quarter. B & T Capital Management DBA Alpha Capital Management now owns 24,808 shares of the company's stock worth $3,772,000 after purchasing an additional 1,217 shares during the period. Retirement Wealth Solutions LLC purchased a new stake in shares of PepsiCo during the fourth quarter valued at $72,000. LongView Wealth Management boosted its position in shares of PepsiCo by 2.2% in the 4th quarter. LongView Wealth Management now owns 4,456 shares of the company's stock valued at $678,000 after purchasing an additional 95 shares during the period. Finally, Whitener Capital Management Inc. raised its holdings in PepsiCo by 5.8% during the 4th quarter. Whitener Capital Management Inc. now owns 44,389 shares of the company's stock worth $6,750,000 after buying an additional 2,447 shares during the period. 73.07% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
PEP has been the topic of several analyst reports. UBS Group dropped their target price on shares of PepsiCo from $193.00 to $175.00 and set a "buy" rating on the stock in a research report on Thursday. Redburn Atlantic raised shares of PepsiCo to a "strong sell" rating in a research note on Thursday, October 10th. Hsbc Global Res raised PepsiCo to a "hold" rating in a research report on Thursday, October 10th. Morgan Stanley lowered PepsiCo from an "overweight" rating to an "equal weight" rating and set a $185.00 price target on the stock. in a research report on Friday, September 20th. Finally, TD Cowen lowered their target price on PepsiCo from $183.00 to $160.00 and set a "hold" rating on the stock in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $178.60.
Read Our Latest Report on PEP
PepsiCo Stock Up 1.2 %
Shares of NASDAQ:PEP traded up $1.71 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 stock has a market capitalization of $203.40 billion, a P/E ratio of 21.87, a P/E/G ratio of 2.57 and a beta of 0.54. The stock has a 50-day moving average price of $155.37 and a 200 day moving average price of $165.82. PepsiCo, Inc. has a twelve month low of $141.51 and a twelve month high of $183.41. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96.
PepsiCo Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were given a dividend of $1.355 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.66%. PepsiCo's payout ratio is currently 79.94%.
PepsiCo Profile
(
Free Report)
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.
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