Luts & Greenleigh Group Inc. Has $287,000 Stake in PepsiCo, Inc. (NASDAQ:PEP)

Luts & Greenleigh Group Inc. lowered its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 13.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,890 shares of the company’s stock after selling 295 shares during the period. Luts & Greenleigh Group Inc.’s holdings in PepsiCo were worth $287,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of PEP. Global Wealth Strategies & Associates lifted its holdings 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 period. Highline Wealth Partners LLC bought a new position in PepsiCo during the 3rd quarter valued at about $28,000. Legacy Investment Solutions LLC acquired a new position in PepsiCo in the third quarter valued at about $31,000. Mattson Financial Services LLC bought a new stake in PepsiCo during the second quarter worth about $34,000. Finally, Rakuten Securities Inc. raised its stake in shares of PepsiCo by 93.2% in the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after acquiring an additional 96 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

PEP has been the subject of a number of recent analyst reports. TD Cowen dropped their price target on PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Bank of America cut their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. UBS Group lowered their price objective on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Wells Fargo & Company reduced their target price on shares of PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Finally, Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $178.20.

PepsiCo Stock Performance

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

PepsiCo Dividend Announcement

The company also recently declared 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 79.94%.

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.