AdvisorNet Financial Inc Sells 209 Shares of PepsiCo, Inc. (NASDAQ:PEP)

AdvisorNet Financial Inc trimmed its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,652 shares of the company’s stock after selling 209 shares during the period. AdvisorNet Financial Inc’s holdings in PepsiCo were worth $1,316,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of PEP. Global Wealth Strategies & Associates raised its stake in shares of PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after acquiring an additional 59 shares in the last quarter. Cross Staff Investments Inc increased its holdings in PepsiCo by 0.9% during the 3rd quarter. Cross Staff Investments Inc now owns 7,080 shares of the company’s stock worth $1,204,000 after purchasing an additional 60 shares during the period. Paulson Wealth Management Inc. raised its position in PepsiCo by 2.1% during the 3rd quarter. Paulson Wealth Management Inc. now owns 2,986 shares of the company’s stock valued at $508,000 after purchasing an additional 60 shares in the last quarter. LCM Capital Management Inc grew its position in shares of PepsiCo by 0.8% during the 3rd quarter. LCM Capital Management Inc now owns 7,573 shares of the company’s stock worth $1,288,000 after buying an additional 62 shares in the last quarter. Finally, Demars Financial Group LLC increased its stake in shares of PepsiCo by 1.1% during the third quarter. Demars Financial Group LLC now owns 5,721 shares of the company’s stock valued at $973,000 after buying an additional 62 shares during the period. Institutional investors own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

PEP has been the topic of several recent research reports. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Barclays cut their price objective on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target for the company. in a research report on Friday, September 20th. Finally, Hsbc Global Res upgraded PepsiCo to a “hold” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $180.64.

PepsiCo Trading Up 0.3 %

NASDAQ PEP opened at $144.95 on Wednesday. PepsiCo, Inc. has a 12-month low of $141.51 and a 12-month high of $183.41. The company has a fifty day simple moving average of $156.46 and a two-hundred day simple moving average of $166.20. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The stock has a market cap of $198.87 billion, a P/E ratio of 21.38, a P/E/G ratio of 2.94 and a beta of 0.54.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were given 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 3.74%. PepsiCo’s dividend payout ratio is currently 79.94%.

PepsiCo Profile

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.