Avior Wealth Management LLC Trims Stake in PepsiCo, Inc. (NASDAQ:PEP)

Avior Wealth Management LLC trimmed its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 9.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 16,523 shares of the company’s stock after selling 1,790 shares during the quarter. Avior Wealth Management LLC’s holdings in PepsiCo were worth $2,513,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Empowered Funds LLC raised its stake in 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 buying an additional 8,406 shares in the last quarter. Assenagon Asset Management S.A. grew its stake 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 worth $259,350,000 after buying an additional 870,451 shares during the last quarter. Janus Henderson Group PLC increased its position in PepsiCo by 11.0% during the 3rd quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock valued at $59,549,000 after buying an additional 34,633 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV boosted its holdings in PepsiCo by 12.8% in the fourth quarter. Hudson Valley Investment Advisors Inc. ADV now owns 41,580 shares of the company’s stock worth $6,323,000 after acquiring an additional 4,712 shares in the last quarter. Finally, IHT Wealth Management LLC grew its stake in shares of PepsiCo by 19.3% during the third quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock worth $5,493,000 after acquiring an additional 5,220 shares during the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Trading Up 0.4 %

Shares of NASDAQ:PEP opened at $148.62 on Friday. The business’s 50 day moving average price is $154.40 and its 200-day moving average price is $165.52. PepsiCo, Inc. has a 1 year low of $141.51 and a 1 year high of $183.41. The firm has a market capitalization of $203.91 billion, a price-to-earnings ratio of 21.92, a price-to-earnings-growth ratio of 2.86 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 disclosed a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were issued a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.65%. The ex-dividend date was Friday, December 6th. PepsiCo’s payout ratio is 79.94%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PEP. Piper Sandler started coverage on shares of PepsiCo in a report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price objective on the stock. UBS Group dropped their target price on PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Wells Fargo & Company reduced their price target on shares of PepsiCo from $170.00 to $155.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. JPMorgan Chase & Co. lowered their price target on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Finally, Barclays decreased their price objective on PepsiCo from $183.00 to $158.00 and set an “overweight” rating for the company in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock 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.