Spire Wealth Management Cuts Stake in PepsiCo, Inc. (NASDAQ:PEP)

Spire Wealth Management decreased its stake in PepsiCo, Inc. (NASDAQ:PEP) by 30.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 18,984 shares of the company’s stock after selling 8,166 shares during the quarter. Spire Wealth Management’s holdings in PepsiCo were worth $2,887,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. International Assets Investment Management LLC lifted its holdings in shares of PepsiCo by 17,113.0% in the 3rd quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock worth $547,626,000 after purchasing an additional 3,201,676 shares during the last quarter. State Street Corp increased its position in PepsiCo by 5.1% in the third quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after buying an additional 2,775,679 shares during the period. Franklin Resources Inc. lifted its stake in PepsiCo by 21.1% in the third quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock valued at $2,293,049,000 after buying an additional 2,264,445 shares during the last quarter. Swedbank AB grew its position in shares of PepsiCo by 211.4% during the third quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock worth $398,847,000 after acquiring an additional 1,592,343 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of PepsiCo by 5.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock worth $3,632,413,000 after acquiring an additional 1,125,059 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analysts Set New Price Targets

PEP has been the topic of a number of recent analyst reports. Hsbc Global Res raised PepsiCo to a “hold” rating in a report on Thursday, October 10th. TD Cowen reduced their price target on PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Barclays lowered their target price on shares of PepsiCo from $183.00 to $158.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Finally, JPMorgan Chase & Co. reduced their price target on shares of PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a research note on Friday, January 24th. One equities 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $176.73.

PepsiCo Stock Performance

Shares of PEP stock opened at $150.69 on Monday. The stock has a 50-day moving average of $153.12 and a 200-day moving average of $164.88. 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 2.91 and a beta of 0.54. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70.

PepsiCo Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were given a $1.355 dividend. The ex-dividend date was Friday, December 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.60%. PepsiCo’s dividend 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.