PepsiCo, Inc. (NASDAQ:PEP) Position Trimmed by Griffin Asset Management Inc.

Griffin Asset Management Inc. lowered its stake in PepsiCo, Inc. (NASDAQ:PEP) by 5.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,077 shares of the company’s stock after selling 1,038 shares during the quarter. Griffin Asset Management Inc.’s holdings in PepsiCo were worth $2,749,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Global Wealth Strategies & Associates lifted its position in PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after buying an additional 59 shares in the last quarter. Highline Wealth Partners LLC acquired a new position in shares of PepsiCo in the third quarter worth $28,000. Legacy Investment Solutions LLC purchased a new stake in shares of PepsiCo during the third quarter worth $31,000. Mattson Financial Services LLC acquired a new stake in PepsiCo during the second quarter valued at $34,000. Finally, Rakuten Securities Inc. increased its position in PepsiCo by 93.2% in the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after purchasing an additional 96 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Performance

NASDAQ:PEP opened at $154.61 on Tuesday. 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 capitalization of $212.12 billion, a P/E ratio of 22.80, a price-to-earnings-growth ratio of 2.86 and a beta of 0.54. The firm has a 50 day moving average of $153.88 and a 200-day moving average of $165.35. PepsiCo, Inc. has a 1 year low of $141.51 and a 1 year high of $183.41.

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were paid a dividend of $1.355 per share. The ex-dividend date was Friday, December 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.51%. PepsiCo’s dividend payout ratio (DPR) is currently 79.94%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PEP. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. 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 note on Friday. Barclays lowered their price target on PepsiCo from $183.00 to $158.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Bank of America decreased their price target on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Finally, Royal Bank of Canada reduced their target price on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research note on Friday, October 4th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $177.00.

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.