ZWJ Investment Counsel Inc. Lowers Stake in PepsiCo, Inc. (NASDAQ:PEP)

by · The Cerbat Gem

ZWJ Investment Counsel Inc. lessened its stake in PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 3.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 13,797 shares of the company’s stock after selling 504 shares during the quarter. ZWJ Investment Counsel Inc.’s holdings in PepsiCo were worth $2,098,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Global Wealth Strategies & Associates raised its stake in shares of PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after acquiring an additional 59 shares in the last quarter. Highline Wealth Partners LLC purchased a new position in PepsiCo during the 3rd quarter worth $28,000. Legacy Investment Solutions LLC bought a new stake in PepsiCo during the 3rd quarter valued at $31,000. Mattson Financial Services LLC purchased a new stake in shares of PepsiCo in the 2nd quarter worth $34,000. Finally, Rakuten Securities Inc. grew 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 worth $34,000 after buying an additional 96 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

Shares of NASDAQ PEP opened at $148.25 on Tuesday. PepsiCo, Inc. has a fifty-two week low of $141.51 and a fifty-two week high of $183.41. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The company has a market cap of $203.40 billion, a PE ratio of 21.87, a P/E/G ratio of 2.74 and a beta of 0.54. The business has a 50-day simple moving average of $155.37 and a two-hundred day simple moving average of $165.86.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were given a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a yield of 3.66%. The ex-dividend date of this dividend was Friday, December 6th. PepsiCo’s dividend payout ratio is presently 79.94%.

Analysts Set New Price Targets

Several research firms recently weighed in on PEP. TD Cowen decreased their price objective on PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Wells Fargo & Company lowered their price target on shares of PepsiCo from $170.00 to $155.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Barclays cut their price objective on shares of PepsiCo from $183.00 to $158.00 and set an “overweight” rating on the stock in a report on Friday. Bank of America lowered their target price on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. Finally, Deutsche Bank Aktiengesellschaft upgraded PepsiCo from a “hold” rating to a “buy” rating and lifted their price target for the company from $179.00 to $184.00 in a report on Thursday, December 12th. 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 company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $178.60.

View Our Latest Stock Report 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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