PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Drive Wealth Management LLC

Drive Wealth Management LLC decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 62.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 1,624 shares of the company’s stock after selling 2,685 shares during the period. Drive Wealth Management LLC’s holdings in PepsiCo were worth $250,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of PEP. Global Wealth Strategies & Associates lifted its stake in PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after acquiring an additional 59 shares in the last quarter. Highline Wealth Partners LLC acquired a new position in PepsiCo during the 3rd quarter worth about $28,000. Legacy Investment Solutions LLC acquired a new position in PepsiCo during the 3rd quarter worth about $31,000. Mattson Financial Services LLC acquired a new position in PepsiCo during the 2nd quarter worth about $34,000. Finally, Rakuten Securities Inc. lifted its stake in PepsiCo by 93.2% during the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after acquiring an additional 96 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Trading Up 3.7 %

NASDAQ:PEP opened at $154.61 on Tuesday. The stock’s 50 day moving average price is $153.88 and its 200 day moving average price is $165.35. The company has a market capitalization of $212.12 billion, a PE ratio of 22.80, a P/E/G ratio of 2.86 and a beta of 0.54. 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, Inc. has a 52-week low of $141.51 and a 52-week high of $183.41.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were paid 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 3.51%. PepsiCo’s dividend payout ratio is presently 79.94%.

Analyst Ratings Changes

A number of research firms have issued reports on PEP. Piper Sandler began coverage on PepsiCo in a research report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price target on the stock. Hsbc Global Res raised PepsiCo to a “hold” rating in a research report on Thursday, October 10th. TD Cowen reduced their price target on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft reduced their price target on PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. reduced their price target on PepsiCo from $183.00 to $165.00 and set a “neutral” rating on the stock in a research report on Friday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $177.00.

About PepsiCo

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.