Financial Strategies Group Inc. Sells 4,748 Shares of PepsiCo, Inc. $PEP

Financial Strategies Group Inc. lowered its position in PepsiCo, Inc. (NASDAQ:PEP) by 10.1% in the third quarter, HoldingsChannel.com reports. The fund owned 42,070 shares of the company’s stock after selling 4,748 shares during the quarter. PepsiCo accounts for approximately 1.2% of Financial Strategies Group Inc.’s portfolio, making the stock its 28th biggest holding. Financial Strategies Group Inc.’s holdings in PepsiCo were worth $6,041,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of PEP. Vanguard Group Inc. lifted its stake in shares of PepsiCo by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 136,936,037 shares of the company’s stock worth $18,081,034,000 after buying an additional 1,761,785 shares during the last quarter. State Street Corp boosted its holdings in shares of PepsiCo by 1.6% during the second quarter. State Street Corp now owns 58,419,849 shares of the company’s stock worth $7,713,757,000 after acquiring an additional 920,045 shares during the period. Geode Capital Management LLC grew its position in shares of PepsiCo by 0.3% in the second quarter. Geode Capital Management LLC now owns 32,675,492 shares of the company’s stock valued at $4,301,240,000 after purchasing an additional 86,695 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in PepsiCo by 9.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 29,031,404 shares of the company’s stock worth $3,833,406,000 after purchasing an additional 2,556,163 shares during the last quarter. Finally, Norges Bank bought a new stake in PepsiCo in the 2nd quarter valued at $2,330,594,000. 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 recent research reports. Rothschild & Co Redburn increased their price objective on PepsiCo from $117.00 to $120.00 and gave the stock a “sell” rating in a research report on Monday, December 15th. Loop Capital set a $164.00 price objective on shares of PepsiCo in a report on Thursday, October 23rd. DZ Bank raised PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 price target on the stock in a research report on Tuesday, October 21st. Wells Fargo & Company upped their target price on PepsiCo from $150.00 to $154.00 and gave the company a “positive” rating in a research report on Friday, October 10th. Finally, UBS Group reduced their target price on PepsiCo from $172.00 to $170.00 and set a “buy” rating on the stock in a report on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, PepsiCo has a consensus rating of “Hold” and a consensus price target of $159.29.

PepsiCo Price Performance

Shares of PEP stock opened at $153.63 on Friday. The business has a fifty day simple moving average of $145.94 and a 200 day simple moving average of $145.53. The company has a market cap of $210.06 billion, a P/E ratio of 29.21, a P/E/G ratio of 4.89 and a beta of 0.42. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $160.15.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 6th. Investors of record on Friday, December 5th were issued a dividend of $1.4225 per share. The ex-dividend date of this dividend was Friday, December 5th. This represents a $5.69 annualized dividend and a dividend yield of 3.7%. PepsiCo’s dividend payout ratio (DPR) is 108.17%.

PepsiCo Company 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.