Constitution Capital LLC Has $8.18 Million Stake in PepsiCo, Inc. (NASDAQ:PEP)

Constitution Capital LLC lessened its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 17.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 53,787 shares of the company’s stock after selling 11,590 shares during the period. PepsiCo comprises 4.6% of Constitution Capital LLC’s holdings, making the stock its 6th largest holding. Constitution Capital LLC’s holdings in PepsiCo were worth $8,179,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PEP. Global Wealth Strategies & Associates lifted its holdings in shares of 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 worth about $28,000. Legacy Investment Solutions LLC bought a new position in shares of PepsiCo during the third quarter valued at $31,000. Mattson Financial Services LLC acquired a new position in PepsiCo during the 2nd quarter worth about $34,000. Finally, Rakuten Securities Inc. increased its stake in shares of PepsiCo by 93.2% in the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after buying an additional 96 shares during the period. 73.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on PEP. Barclays reduced their target price on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Piper Sandler started coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price objective for the company. Wells Fargo & Company dropped their target price on shares of PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Finally, Morgan Stanley downgraded PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective on the stock. in a research note on Friday, September 20th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $180.27.

PepsiCo Stock Performance

PEP opened at $146.58 on Friday. The company has a market cap of $201.11 billion, a price-to-earnings ratio of 21.62, a PEG ratio of 2.57 and a beta of 0.54. The company’s fifty day moving average price is $156.06 and its two-hundred day moving average price is $166.05. PepsiCo, Inc. has a 1-year low of $141.51 and a 1-year high of $183.41. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96.

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were issued a $1.355 dividend. The ex-dividend date was Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.70%. 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.