Crossmark Global Holdings Inc. Reduces Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Crossmark Global Holdings Inc. cut its stake in PepsiCo, Inc. (NASDAQ:PEP) by 0.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 79,591 shares of the company’s stock after selling 166 shares during the period. Crossmark Global Holdings Inc.’s holdings in PepsiCo were worth $12,102,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Global Wealth Strategies & Associates boosted its position in shares of PepsiCo by 59.0% in the 3rd 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 period. Highline Wealth Partners LLC purchased a new position in shares of PepsiCo during the third quarter worth approximately $28,000. Legacy Investment Solutions LLC acquired a new position in shares of PepsiCo in the 3rd quarter valued at $31,000. Mattson Financial Services LLC acquired a new stake in PepsiCo during the 2nd quarter worth $34,000. Finally, Rakuten Securities Inc. grew its position in PepsiCo by 93.2% during the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after purchasing an additional 96 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Up 1.2 %

NASDAQ:PEP opened at $148.25 on Tuesday. PepsiCo, Inc. has a 52-week low of $141.51 and a 52-week high of $183.41. The company 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. 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 has a fifty day simple moving average of $155.37 and a 200-day simple moving average of $165.86.

PepsiCo Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Wells Fargo & Company lowered their price target on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. UBS Group cut their price target on PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. JPMorgan Chase & Co. lowered their price objective on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. TD Cowen cut their price objective on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Finally, Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $178.60.

About PepsiCo

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.