Kennedy Investment Group Trims Stake in PepsiCo, Inc. (NASDAQ:PEP)

Kennedy Investment Group cut its position in PepsiCo, Inc. (NASDAQ:PEP) by 6.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,806 shares of the company’s stock after selling 581 shares during the period. Kennedy Investment Group’s holdings in PepsiCo were worth $1,187,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Global Wealth Strategies & Associates increased its stake 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 during the period. Highline Wealth Partners LLC purchased a new position in shares of PepsiCo during the 3rd quarter valued at approximately $28,000. Legacy Investment Solutions LLC purchased a new stake in PepsiCo in the 3rd quarter worth $31,000. Mattson Financial Services LLC purchased a new stake in shares of PepsiCo during the second quarter worth $34,000. Finally, Rakuten Securities Inc. boosted 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 valued at $34,000 after acquiring an additional 96 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Down 2.8 %

Shares of PEP opened at $150.25 on Wednesday. The stock has a market capitalization of $206.14 billion, a price-to-earnings ratio of 22.16, a PEG ratio of 2.86 and a beta of 0.54. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41. The stock has a fifty day moving average of $153.81 and a 200-day moving average of $165.28.

PepsiCo Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were paid 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 3.61%. PepsiCo’s dividend payout ratio (DPR) is currently 79.94%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Royal Bank of Canada reduced their price target on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. Deutsche Bank Aktiengesellschaft reduced their target price on PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a report on Wednesday, January 22nd. Piper Sandler began coverage on PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price objective for the company. Barclays reduced 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, January 17th. Finally, TD Cowen dropped their price objective on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus 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.