Daymark Wealth Partners LLC Has $12.70 Million Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Daymark Wealth Partners LLC reduced its stake in PepsiCo, Inc. (NASDAQ:PEP) by 2.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 83,487 shares of the company’s stock after selling 2,022 shares during the period. Daymark Wealth Partners LLC’s holdings in PepsiCo were worth $12,695,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Global Wealth Strategies & Associates grew its position in shares of PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after buying an additional 59 shares during the period. Highline Wealth Partners LLC acquired a new position in PepsiCo during the third quarter valued at approximately $28,000. Legacy Investment Solutions LLC bought a new stake in PepsiCo in the third quarter valued at approximately $31,000. Mattson Financial Services LLC acquired a new stake in PepsiCo in the second quarter worth $34,000. Finally, Rakuten Securities Inc. grew its holdings in shares of PepsiCo by 93.2% in the 3rd 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.

PepsiCo Stock Down 0.3 %

Shares of PEP stock opened at $148.09 on Thursday. PepsiCo, Inc. has a 52-week low of $141.51 and a 52-week high of $183.41. The stock has a market cap of $203.18 billion, a price-to-earnings ratio of 21.84, a PEG ratio of 2.75 and a beta of 0.54. The firm’s 50-day moving average is $154.74 and its 200-day moving average is $165.64. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89.

PepsiCo Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PEP. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Piper Sandler started coverage on PepsiCo in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price target on the stock. Royal Bank of Canada reduced their price objective 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. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Finally, TD Cowen decreased their price target on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $178.20.

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.