Armstrong Henry H Associates Inc. Trims Stake in PepsiCo, Inc. (NASDAQ:PEP)

Armstrong Henry H Associates Inc. decreased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,216 shares of the company’s stock after selling 214 shares during the period. PepsiCo makes up about 0.3% of Armstrong Henry H Associates Inc.’s holdings, making the stock its 20th largest holding. Armstrong Henry H Associates Inc.’s holdings in PepsiCo were worth $2,618,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PEP. Global Wealth Strategies & Associates grew its holdings in shares of PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after purchasing an additional 59 shares in the last quarter. Highline Wealth Partners LLC bought a new stake in PepsiCo during the third quarter valued at approximately $28,000. Legacy Investment Solutions LLC purchased a new position in PepsiCo in the 3rd quarter worth approximately $31,000. Mattson Financial Services LLC bought a new position in shares of PepsiCo in the 2nd quarter worth $34,000. Finally, Rakuten Securities Inc. lifted its holdings 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 acquiring an additional 96 shares during the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Price Performance

PEP stock opened at $144.50 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 firm’s 50-day moving average price is $156.92 and its two-hundred day moving average price is $166.35. The stock has a market capitalization of $198.25 billion, a price-to-earnings ratio of 21.31, a PEG ratio of 2.94 and a beta of 0.54. 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 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. This represents a $5.42 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date of this dividend was Friday, December 6th. PepsiCo’s payout ratio is 79.94%.

Wall Street Analyst Weigh In

PEP has been the topic of a number of research analyst reports. Bank of America reduced their target price on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft raised shares of PepsiCo from a “hold” rating to a “buy” rating and lifted their price target for the stock from $179.00 to $184.00 in a research note on Thursday, December 12th. Finally, TD Cowen cut their price objective on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $180.64.

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.