PepsiCo, Inc. (NASDAQ:PEP) Position Cut by Monarch Capital Management Inc.

Monarch Capital Management Inc. lowered its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.1% in the 4th quarter, Holdings Channel reports. The fund owned 8,902 shares of the company’s stock after selling 100 shares during the period. Monarch Capital Management Inc.’s holdings in PepsiCo were worth $1,364,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of PEP. Global Wealth Strategies & Associates boosted its position 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 during the period. Highline Wealth Partners LLC bought a new stake in shares of PepsiCo during the third quarter valued at about $28,000. Legacy Investment Solutions LLC acquired a new stake in PepsiCo in the third quarter worth about $31,000. Mattson Financial Services LLC acquired a new position in PepsiCo during the 2nd quarter valued at about $34,000. Finally, Rakuten Securities Inc. raised its position in shares of PepsiCo by 93.2% during the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after buying an additional 96 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. TD Cowen lowered their price objective on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Barclays dropped their price objective on PepsiCo from $183.00 to $158.00 and set an “overweight” rating on the stock in a research note on Friday. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Finally, Wells Fargo & Company lowered their price objective on shares of PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. One 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’s stock. According to MarketBeat, PepsiCo presently has an average rating of “Hold” and a consensus target price of $178.60.

PepsiCo Price Performance

PEP opened at $148.25 on Friday. The firm has a market capitalization of $203.40 billion, a P/E ratio of 21.87, a PEG ratio of 2.57 and a beta of 0.54. The stock has a fifty day moving average of $155.37 and a 200-day moving average of $165.83. 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 12-month low of $141.51 and a 12-month high of $183.41.

PepsiCo Dividend Announcement

The firm also recently disclosed 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 3.66%. PepsiCo’s payout ratio 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.