Atlas Private Wealth Advisors Lowers Stock Holdings in PepsiCo, Inc. $PEP

Atlas Private Wealth Advisors cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 66.9% in the 3rd quarter, Holdings Channel reports. The fund owned 1,938 shares of the company’s stock after selling 3,919 shares during the quarter. Atlas Private Wealth Advisors’ holdings in PepsiCo were worth $272,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of PEP. Three Bridge Wealth Advisors LLC boosted its holdings in shares of PepsiCo by 1.8% in the third quarter. Three Bridge Wealth Advisors LLC now owns 3,870 shares of the company’s stock valued at $544,000 after acquiring an additional 68 shares in the last quarter. JSF Financial LLC lifted its position in PepsiCo by 3.8% in the second quarter. JSF Financial LLC now owns 1,897 shares of the company’s stock valued at $250,000 after purchasing an additional 69 shares during the period. Facet Wealth Inc. boosted its holdings in PepsiCo by 3.2% in the 3rd quarter. Facet Wealth Inc. now owns 2,221 shares of the company’s stock valued at $312,000 after purchasing an additional 69 shares in the last quarter. Hudock Inc. raised its stake in shares of PepsiCo by 1.0% during the 3rd quarter. Hudock Inc. now owns 7,079 shares of the company’s stock worth $994,000 after buying an additional 70 shares in the last quarter. Finally, Binnacle Investments Inc lifted its holdings in shares of PepsiCo by 33.2% in the 2nd quarter. Binnacle Investments Inc now owns 285 shares of the company’s stock valued at $38,000 after buying an additional 71 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Ratings Changes

PEP has been the topic of a number of recent analyst reports. Citigroup upped their price objective on PepsiCo from $165.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, December 17th. Evercore ISI upped their price target on shares of PepsiCo from $150.00 to $152.00 in a research note on Friday, October 10th. JPMorgan Chase & Co. upgraded shares of PepsiCo from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $151.00 to $164.00 in a research note on Wednesday, December 10th. Rothschild & Co Redburn boosted their price objective on shares of PepsiCo from $117.00 to $120.00 and gave the stock a “sell” rating in a report on Monday, December 15th. Finally, Loop Capital set a $164.00 target price on shares of PepsiCo in a report on Thursday, October 23rd. 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 given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $159.29.

PepsiCo Trading Up 3.3%

Shares of PEP opened at $153.63 on Friday. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.91 and a quick ratio of 0.72. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $160.15. The stock has a market cap of $210.06 billion, a price-to-earnings ratio of 29.21, a price-to-earnings-growth ratio of 4.89 and a beta of 0.42. The firm has a 50 day simple moving average of $145.94 and a 200-day simple moving average of $145.45.

PepsiCo Announces Dividend

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 of this dividend was Friday, December 5th. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.7%. PepsiCo’s dividend payout ratio (DPR) is presently 108.17%.

About PepsiCo

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.