PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Cullen Investment Group LTD.

Cullen Investment Group LTD. lessened its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 35,946 shares of the company’s stock after selling 822 shares during the quarter. Cullen Investment Group LTD.’s holdings in PepsiCo were worth $5,466,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Global Wealth Strategies & Associates boosted 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 during the last quarter. Highline Wealth Partners LLC purchased a new position in PepsiCo in the 3rd quarter valued at about $28,000. Legacy Investment Solutions LLC acquired a new stake in shares of PepsiCo during the 3rd quarter worth about $31,000. Mattson Financial Services LLC acquired a new position in shares of PepsiCo in the second quarter valued at approximately $34,000. Finally, Rakuten Securities Inc. lifted its stake in shares of PepsiCo by 93.2% during the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after buying an additional 96 shares during the period. 73.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PEP has been the topic of several research reports. Wells Fargo & Company cut their price target on shares of PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Bank of America reduced their price target on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Royal Bank of Canada cut their price target on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. Finally, StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, PepsiCo currently has an average rating of “Hold” and an average price target of $180.64.

PepsiCo Stock Performance

Shares of PEP opened at $144.50 on Tuesday. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The stock has a fifty day moving average price of $156.92 and a 200-day moving average price of $166.35. PepsiCo, Inc. has a 12 month low of $141.51 and a 12 month high of $183.41. The firm has a market cap of $198.25 billion, a PE ratio of 21.31, a P/E/G ratio of 2.94 and a beta of 0.54.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were given a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date of this dividend was Friday, December 6th. PepsiCo’s dividend payout ratio (DPR) is presently 79.94%.

PepsiCo Company 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.