Coign Capital Advisors LLC Sells 3,511 Shares of PepsiCo, Inc. $PEP

Coign Capital Advisors LLC cut its stake in PepsiCo, Inc. (NASDAQ:PEP) by 40.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,230 shares of the company’s stock after selling 3,511 shares during the quarter. Coign Capital Advisors LLC’s holdings in PepsiCo were worth $734,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of PEP. Evolution Wealth Management Inc. purchased a new position in shares of PepsiCo during the 2nd quarter valued at $27,000. JCIC Asset Management Inc. bought a new position in shares of PepsiCo during the 3rd quarter valued at about $27,000. Legend Financial Advisors Inc. purchased a new position in shares of PepsiCo during the second quarter worth approximately $29,000. Vermillion & White Wealth Management Group LLC raised its position in PepsiCo by 107.1% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 234 shares of the company’s stock worth $31,000 after purchasing an additional 121 shares during the period. Finally, Halbert Hargrove Global Advisors LLC increased its holdings in shares of PepsiCo by 667.7% in the third quarter. Halbert Hargrove Global Advisors LLC now owns 238 shares of the company’s stock worth $33,000 after buying an additional 207 shares during the period. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Down 1.6%

PEP opened at $144.40 on Friday. The company has a market capitalization of $197.44 billion, a PE ratio of 27.45, a PEG ratio of 4.81 and a beta of 0.42. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26. The firm’s 50 day simple moving average is $145.78 and its two-hundred day simple moving average is $144.90. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $160.15.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 6th. Investors of record on Friday, December 5th were paid a dividend of $1.4225 per share. The ex-dividend date was Friday, December 5th. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.9%. PepsiCo’s payout ratio is 108.17%.

Analyst Upgrades and Downgrades

PEP has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upgraded shares of PepsiCo from a “neutral” rating to an “overweight” rating and upped their price target for the company from $151.00 to $164.00 in a report on Wednesday, December 10th. Piper Sandler raised their price objective on PepsiCo from $161.00 to $172.00 and gave the company an “overweight” rating in a research report on Tuesday, December 9th. Evercore ISI lifted their target price on shares of PepsiCo from $150.00 to $152.00 in a report on Friday, October 10th. HSBC lifted their price target on PepsiCo from $145.00 to $152.00 and gave the stock a “hold” rating in a research report on Friday, October 10th. Finally, Barclays set a $148.00 price objective on PepsiCo in a research report on Friday, January 16th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, PepsiCo presently has an average rating of “Hold” and a consensus target price of $159.29.

PepsiCo Profile

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.