Courier Capital LLC Decreases Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Courier Capital LLC cut its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 1.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 50,080 shares of the company’s stock after selling 843 shares during the quarter. Courier Capital LLC’s holdings in PepsiCo were worth $7,615,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of PEP. Empowered Funds LLC increased its position in PepsiCo by 9.2% during the third quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock valued at $16,968,000 after acquiring an additional 8,406 shares during the last quarter. Janus Henderson Group PLC raised its position in PepsiCo by 11.0% in the 3rd quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock worth $59,549,000 after purchasing an additional 34,633 shares during the period. Hudson Valley Investment Advisors Inc. ADV lifted its stake in PepsiCo by 12.8% in the fourth quarter. Hudson Valley Investment Advisors Inc. ADV now owns 41,580 shares of the company’s stock worth $6,323,000 after purchasing an additional 4,712 shares during the last quarter. IHT Wealth Management LLC grew its stake in shares of PepsiCo by 19.3% during the third quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock valued at $5,493,000 after buying an additional 5,220 shares during the last quarter. Finally, Meridian Wealth Management LLC purchased a new stake in shares of PepsiCo in the third quarter worth approximately $9,589,000. Institutional investors own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

PEP has been the topic of several research analyst reports. TD Cowen cut their price objective on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Royal Bank of Canada cut their price target on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. Piper Sandler began coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price objective for the company. JPMorgan Chase & Co. reduced their target price on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Finally, Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $180.64.

PepsiCo Stock Up 1.3 %

PepsiCo stock opened at $144.50 on Tuesday. PepsiCo, Inc. has a 1-year low of $141.51 and a 1-year high of $183.41. The business has a fifty day moving average price of $156.92 and a 200-day moving average price of $166.35. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. 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 Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 3.75%. PepsiCo’s payout ratio is 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.