Lmcg Investments LLC Cuts Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Lmcg Investments LLC reduced its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 5.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,798 shares of the company’s stock after selling 1,389 shares during the period. Lmcg Investments LLC’s holdings in PepsiCo were worth $3,619,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PEP. Empowered Funds LLC increased its stake in shares of PepsiCo by 9.2% in the third quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock worth $16,968,000 after purchasing an additional 8,406 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in PepsiCo by 104.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,705,574 shares of the company’s stock valued at $259,350,000 after acquiring an additional 870,451 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of PepsiCo by 11.0% in the third quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock worth $59,549,000 after acquiring an additional 34,633 shares during the period. Hudson Valley Investment Advisors Inc. ADV raised its stake in shares of PepsiCo by 12.8% during the 4th quarter. Hudson Valley Investment Advisors Inc. ADV now owns 41,580 shares of the company’s stock valued at $6,323,000 after purchasing an additional 4,712 shares during the period. Finally, IHT Wealth Management LLC boosted its stake in PepsiCo by 19.3% in the 3rd quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock worth $5,493,000 after purchasing an additional 5,220 shares during the period. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Up 1.2 %

Shares of PEP opened at $148.25 on Tuesday. PepsiCo, Inc. has a 12-month low of $141.51 and a 12-month high of $183.41. The business’s 50 day moving average is $155.37 and its 200 day moving average is $165.86. 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 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.

PepsiCo Announces Dividend

The company 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. 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 3.66%. PepsiCo’s dividend payout ratio is currently 79.94%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Piper Sandler began coverage on shares of PepsiCo in a report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price target on the stock. TD Cowen cut their target price 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. Bank of America cut their price objective on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. 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 investment 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 currently has a consensus rating of “Hold” and an average 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.