Diamant Asset Management Inc. Cuts Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Diamant Asset Management Inc. lowered its position in PepsiCo, Inc. (NASDAQ:PEP) by 1.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,580 shares of the company’s stock after selling 490 shares during the quarter. PepsiCo comprises approximately 2.5% of Diamant Asset Management Inc.’s investment portfolio, making the stock its 9th biggest holding. Diamant Asset Management Inc.’s holdings in PepsiCo were worth $3,890,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp lifted its position in PepsiCo by 5.1% in the third quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after purchasing an additional 2,775,679 shares during the period. Geode Capital Management LLC boosted its stake in PepsiCo by 1.8% during the third quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock valued at $5,170,529,000 after buying an additional 543,558 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in PepsiCo by 5.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock worth $3,632,413,000 after acquiring an additional 1,125,059 shares during the period. Franklin Resources Inc. raised its position in PepsiCo by 21.1% in the third quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock worth $2,293,049,000 after acquiring an additional 2,264,445 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in PepsiCo by 2.7% in the 3rd quarter. Wellington Management Group LLP now owns 12,098,551 shares of the company’s stock valued at $2,057,359,000 after acquiring an additional 313,468 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Stock Up 3.7 %

PEP opened at $154.61 on Tuesday. The company has a market capitalization of $212.12 billion, a PE ratio of 22.80, a price-to-earnings-growth ratio of 2.86 and a beta of 0.54. The business has a 50-day moving average of $153.88 and a 200-day moving average of $165.35. PepsiCo, Inc. has a fifty-two week low of $141.51 and a fifty-two week high of $183.41. 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 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 $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.51%. The ex-dividend date was Friday, December 6th. PepsiCo’s dividend payout ratio is 79.94%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PEP. JPMorgan Chase & Co. dropped their target price on shares of PepsiCo from $183.00 to $165.00 and set a “neutral” rating on the stock in a report on Friday. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Bank of America decreased their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Finally, Wells Fargo & Company dropped 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. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $177.00.

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.