West Coast Financial LLC Sells 27,567 Shares of PepsiCo, Inc. (NASDAQ:PEP)

by · The Cerbat Gem

West Coast Financial LLC cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 32.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 57,804 shares of the company’s stock after selling 27,567 shares during the period. West Coast Financial LLC’s holdings in PepsiCo were worth $8,790,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in PEP. Global Wealth Strategies & Associates boosted its holdings in 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 last quarter. Highline Wealth Partners LLC bought a new stake in PepsiCo in the 3rd quarter worth about $28,000. Legacy Investment Solutions LLC purchased a new stake in PepsiCo in the 3rd quarter valued at about $31,000. Mattson Financial Services LLC purchased a new position in shares of PepsiCo in the 2nd quarter worth approximately $34,000. Finally, Rakuten Securities Inc. grew its holdings 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 acquiring an additional 96 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Up 1.2 %

Shares of NASDAQ PEP opened at $146.58 on Friday. The business has a 50-day simple moving average of $156.06 and a two-hundred day simple moving average of $166.05. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41. The company has a market cap of $201.11 billion, a P/E ratio of 21.62, a P/E/G ratio of 2.57 and a beta of 0.54. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were issued a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date of this dividend was Friday, December 6th. PepsiCo’s dividend payout ratio (DPR) is presently 79.94%.

Analysts Set New Price Targets

Several research firms have weighed in on PEP. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. UBS Group cut their price target on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a report on Thursday. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft raised shares of PepsiCo from a “hold” rating to a “buy” rating and increased their target price for the company from $179.00 to $184.00 in a research report on Thursday, December 12th. Finally, Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $180.27.

Get Our Latest Analysis on PepsiCo

PepsiCo 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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