Ballentine Partners LLC Lowers Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

by · The Cerbat Gem

Ballentine Partners LLC trimmed its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 3.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 28,566 shares of the company’s stock after selling 999 shares during the quarter. Ballentine Partners LLC’s holdings in PepsiCo were worth $4,344,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Global Wealth Strategies & Associates grew its stake in PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares during the last quarter. Cross Staff Investments Inc grew its position in shares of PepsiCo by 0.9% in the 3rd quarter. Cross Staff Investments Inc now owns 7,080 shares of the company’s stock worth $1,204,000 after buying an additional 60 shares during the last quarter. Paulson Wealth Management Inc. raised its stake in shares of PepsiCo by 2.1% during the 3rd quarter. Paulson Wealth Management Inc. now owns 2,986 shares of the company’s stock worth $508,000 after acquiring an additional 60 shares in the last quarter. LCM Capital Management Inc lifted its position in PepsiCo by 0.8% during the third quarter. LCM Capital Management Inc now owns 7,573 shares of the company’s stock valued at $1,288,000 after acquiring an additional 62 shares during the last quarter. Finally, Demars Financial Group LLC boosted its stake in PepsiCo by 1.1% in the third quarter. Demars Financial Group LLC now owns 5,721 shares of the company’s stock valued at $973,000 after acquiring an additional 62 shares in the last quarter. 73.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the company. Royal Bank of Canada decreased their price objective on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. TD Cowen decreased their price target on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft upgraded PepsiCo from a “hold” rating to a “buy” rating and boosted their price target for the company from $179.00 to $184.00 in a research note on Thursday, December 12th. Finally, Wells Fargo & Company decreased their target price on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. 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. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $178.60.

View Our Latest Stock Report on PEP

PepsiCo Price Performance

NASDAQ:PEP opened at $148.25 on Tuesday. The stock has a market capitalization of $203.40 billion, a PE ratio of 21.87, a price-to-earnings-growth ratio of 2.74 and a beta of 0.54. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The stock’s 50-day moving average price is $155.37 and its 200-day moving average price is $165.86.

PepsiCo Dividend Announcement

The firm also recently announced 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. This represents a $5.42 annualized dividend and a dividend yield of 3.66%. The ex-dividend date of this dividend was Friday, December 6th. PepsiCo’s payout ratio is 79.94%.

PepsiCo Company Profile

(Free Report)

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.

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