Sovereign Financial Group Inc. Has $653,000 Position in PepsiCo, Inc. (NASDAQ:PEP)

Sovereign Financial Group Inc. cut its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 5.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,297 shares of the company’s stock after selling 224 shares during the period. Sovereign Financial Group Inc.’s holdings in PepsiCo were worth $653,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PEP. One Capital Management LLC lifted its holdings in PepsiCo by 51.7% during the 2nd quarter. One Capital Management LLC now owns 9,817 shares of the company’s stock valued at $1,619,000 after purchasing an additional 3,344 shares during the last quarter. Luts & Greenleigh Group Inc. acquired a new stake in shares of PepsiCo during the 2nd quarter worth about $379,000. Excalibur Management Corp boosted its holdings in shares of PepsiCo by 1.7% during the 2nd quarter. Excalibur Management Corp now owns 16,039 shares of the company’s stock worth $2,645,000 after buying an additional 274 shares during the period. Edgestream Partners L.P. raised its holdings in PepsiCo by 190.5% in the 2nd quarter. Edgestream Partners L.P. now owns 13,377 shares of the company’s stock valued at $2,206,000 after acquiring an additional 8,772 shares during the period. Finally, Conscious Wealth Investments LLC lifted its position in PepsiCo by 1.0% during the second quarter. Conscious Wealth Investments LLC now owns 13,868 shares of the company’s stock worth $2,306,000 after acquiring an additional 137 shares during the last quarter. 73.07% of the stock is owned by institutional investors.

PepsiCo Trading Up 0.3 %

Shares of PEP stock opened at $144.95 on Wednesday. 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 fifty-two week low of $141.51 and a fifty-two week high of $183.41. The company has a market cap of $198.87 billion, a PE ratio of 21.38, a P/E/G ratio of 2.94 and a beta of 0.54. The stock’s fifty day moving average price is $156.46 and its two-hundred day moving average price is $166.20.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were paid a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a yield of 3.74%. The ex-dividend date of this dividend was Friday, December 6th. PepsiCo’s payout ratio is 79.94%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PEP. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Hsbc Global Res raised PepsiCo to a “hold” rating in a report on Thursday, October 10th. TD Cowen lowered their price target on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Wells Fargo & Company cut their price objective on shares of PepsiCo from $170.00 to $155.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Finally, Piper Sandler initiated coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price target for the company. One equities 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. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $180.64.

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.