Wealth Enhancement Advisory Services LLC cut its holdings in PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 3.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,067,990 shares of the company’s stock after selling 42,494 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in PepsiCo were worth $160,135,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. WealthTrak Capital Management LLC bought a new stake in shares of PepsiCo during the 4th quarter worth $28,000. Prudent Man Investment Management Inc. purchased a new stake in shares of PepsiCo during the fourth quarter valued at $30,000. Measured Risk Portfolios Inc. acquired a new position in shares of PepsiCo in the 4th quarter valued at $31,000. Summit Securities Group LLC acquired a new stake in PepsiCo during the 4th quarter worth about $33,000. Finally, GKV Capital Management Co. Inc. acquired a new stake in PepsiCo during the 4th quarter worth about $38,000. 73.07% of the stock is owned by institutional investors and hedge funds.
PepsiCo Trading Down 0.2%
NASDAQ:PEP opened at $129.07 on Thursday. The company has a market capitalization of $176.97 billion, a P/E ratio of 18.98, a P/E/G ratio of 3.71 and a beta of 0.45. The stock’s 50 day moving average price is $133.80 and its 200 day moving average price is $144.52. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.65 and a current ratio of 0.83. PepsiCo, Inc. has a 52 week low of $127.75 and a 52 week high of $180.91.
PepsiCo Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be given a $1.4225 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.41%. This is a boost from PepsiCo’s previous quarterly dividend of $1.36. PepsiCo’s payout ratio is currently 83.68%.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on PEP. Morgan Stanley dropped their target price on shares of PepsiCo from $168.00 to $153.00 and set an “equal weight” rating on the stock in a research report on Friday, April 25th. Barclays cut their target price on shares of PepsiCo from $143.00 to $135.00 and set an “equal weight” rating on the stock in a research note on Monday, April 28th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $163.00 target price on shares of PepsiCo in a research report on Tuesday, April 22nd. Citigroup lowered their price target on PepsiCo from $170.00 to $160.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Finally, Bank of America reduced their price objective on PepsiCo from $155.00 to $150.00 and set a “neutral” rating for the company in a research note on Friday, April 25th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, PepsiCo currently has an average rating of “Hold” and an average price target of $160.69.
Check Out Our Latest Stock Analysis on PepsiCo
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.
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