Chicago Capital LLC Sells 602 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Chicago Capital LLC cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.2% in the fourth quarter, HoldingsChannel reports. The fund owned 48,020 shares of the company’s stock after selling 602 shares during the period. Chicago Capital LLC’s holdings in PepsiCo were worth $7,302,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Empowered Funds LLC lifted its holdings in PepsiCo by 9.2% in the 3rd quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock worth $16,968,000 after purchasing an additional 8,406 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of PepsiCo by 104.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,705,574 shares of the company’s stock worth $259,350,000 after acquiring an additional 870,451 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of PepsiCo by 11.0% during the 3rd quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock valued at $59,549,000 after purchasing an additional 34,633 shares during the last quarter. Hudson Valley Investment Advisors Inc. ADV increased its position in shares of PepsiCo by 12.8% during the 4th quarter. Hudson Valley Investment Advisors Inc. ADV now owns 41,580 shares of the company’s stock valued at $6,323,000 after purchasing an additional 4,712 shares during the last quarter. Finally, IHT Wealth Management LLC increased its position in shares of PepsiCo by 19.3% during the 3rd quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock valued at $5,493,000 after purchasing an additional 5,220 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on PEP. Wells Fargo & Company cut their target price on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Barclays cut their target price on PepsiCo from $183.00 to $158.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. UBS Group cut their price objective on PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. TD Cowen cut their price objective on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. cut their price objective on PepsiCo from $183.00 to $165.00 and set a “neutral” rating on the stock in a research report on Friday, January 24th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $176.73.

PepsiCo Trading Down 0.8 %

PepsiCo stock opened at $150.69 on Monday. The stock has a 50-day moving average of $153.12 and a two-hundred day moving average of $164.88. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. PepsiCo, Inc. has a one year low of $141.51 and a one year high of $183.41. The stock has a market cap of $206.75 billion, a PE ratio of 22.23, a price-to-earnings-growth ratio of 2.92 and a beta of 0.54.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were paid a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend was Friday, December 6th. PepsiCo’s dividend payout ratio (DPR) is presently 79.94%.

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.