Park Place Capital Corp Sells 554 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Park Place Capital Corp decreased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 10.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,854 shares of the company’s stock after selling 554 shares during the period. Park Place Capital Corp’s holdings in PepsiCo were worth $738,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Thrivent Financial for Lutherans boosted its position in shares of PepsiCo by 8.5% during the 2nd quarter. Thrivent Financial for Lutherans now owns 121,512 shares of the company’s stock worth $20,040,000 after purchasing an additional 9,567 shares in the last quarter. Wescott Financial Advisory Group LLC boosted its holdings in PepsiCo by 41.3% in the second quarter. Wescott Financial Advisory Group LLC now owns 2,475 shares of the company’s stock worth $408,000 after acquiring an additional 724 shares in the last quarter. Fred Alger Management LLC increased its holdings in shares of PepsiCo by 5.6% during the second quarter. Fred Alger Management LLC now owns 49,842 shares of the company’s stock valued at $8,220,000 after acquiring an additional 2,651 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of PepsiCo during the second quarter worth approximately $223,000. Finally, Alley Investment Management Company LLC lifted its holdings in shares of PepsiCo by 0.8% in the 2nd quarter. Alley Investment Management Company LLC now owns 68,863 shares of the company’s stock worth $11,358,000 after purchasing an additional 548 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PEP. Bank of America dropped their price objective on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. 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. Wells Fargo & Company dropped their target price on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Finally, Barclays dropped their price objective on PepsiCo from $183.00 to $158.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $178.20.

PepsiCo Price Performance

PepsiCo stock opened at $148.09 on Thursday. 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 business’s 50 day simple moving average is $154.74 and its 200 day simple moving average is $165.64. PepsiCo, Inc. has a 12 month low of $141.51 and a 12 month high of $183.41. The company 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.

PepsiCo Announces Dividend

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