PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Cadent Capital Advisors LLC

Cadent Capital Advisors LLC lowered its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,435 shares of the company’s stock after selling 275 shares during the quarter. PepsiCo accounts for 1.1% of Cadent Capital Advisors LLC’s investment portfolio, making the stock its 25th largest holding. Cadent Capital Advisors LLC’s holdings in PepsiCo were worth $3,107,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp boosted its stake in shares of PepsiCo by 5.1% during the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after acquiring an additional 2,775,679 shares in the last quarter. Geode Capital Management LLC increased its position in PepsiCo by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock worth $5,170,529,000 after purchasing an additional 543,558 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in PepsiCo by 5.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock valued at $3,632,413,000 after purchasing an additional 1,125,059 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of PepsiCo by 7.2% during the 2nd quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock worth $2,234,400,000 after purchasing an additional 905,468 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in shares of PepsiCo by 21.1% in the third quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock valued at $2,293,049,000 after buying an additional 2,264,445 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

NASDAQ PEP traded up $1.79 on Monday, reaching $144.43. 3,851,709 shares of the stock traded hands, compared to its average volume of 6,750,441. PepsiCo, Inc. has a 12 month low of $141.51 and a 12 month 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 firm’s fifty day simple moving average is $157.35 and its 200 day simple moving average is $166.50. The company has a market cap of $198.16 billion, a price-to-earnings ratio of 21.30, a P/E/G ratio of 2.94 and a beta of 0.54.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were issued a $1.355 dividend. The ex-dividend date of this dividend 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 currently 79.94%.

Wall Street Analyst Weigh In

PEP has been the topic of a number of research analyst reports. Barclays decreased their price target on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Piper Sandler began coverage on PepsiCo in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price objective on the stock. Bank of America decreased their price objective on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Royal Bank of Canada decreased their target price on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. Finally, Wells Fargo & Company lowered their target price on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, PepsiCo currently has a consensus rating of “Hold” and a consensus price target of $180.64.

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.