CMG Global Holdings LLC Sells 184 Shares of PepsiCo, Inc. (NASDAQ:PEP)

CMG Global Holdings LLC reduced its position in PepsiCo, Inc. (NASDAQ:PEP) by 7.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,451 shares of the company’s stock after selling 184 shares during the period. CMG Global Holdings LLC’s holdings in PepsiCo were worth $363,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PEP. Global Wealth Strategies & Associates lifted its holdings in shares of PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares in the last quarter. Cross Staff Investments Inc raised its holdings in shares of PepsiCo by 0.9% in the third quarter. Cross Staff Investments Inc now owns 7,080 shares of the company’s stock worth $1,204,000 after acquiring an additional 60 shares during the last quarter. Paulson Wealth Management Inc. boosted its stake in shares of PepsiCo by 2.1% during the third quarter. Paulson Wealth Management Inc. now owns 2,986 shares of the company’s stock valued at $508,000 after acquiring an additional 60 shares during the last quarter. LCM Capital Management Inc increased its position in PepsiCo by 0.8% during the 3rd quarter. LCM Capital Management Inc now owns 7,573 shares of the company’s stock worth $1,288,000 after purchasing an additional 62 shares in the last quarter. Finally, Demars Financial Group LLC grew its holdings in shares of PepsiCo by 1.1% during the third quarter. Demars Financial Group LLC now owns 5,721 shares of the company’s stock worth $973,000 after buying an additional 62 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Price Performance

PEP opened at $151.90 on Friday. 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 company has a fifty day simple moving average of $153.51 and a 200 day simple moving average of $165.07. The firm has a market cap of $208.41 billion, a price-to-earnings ratio of 22.40, a PEG ratio of 2.91 and a beta of 0.54. PepsiCo, Inc. has a twelve month low of $141.51 and a twelve month high of $183.41.

PepsiCo Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date of this dividend was Friday, December 6th. PepsiCo’s dividend payout ratio is currently 79.94%.

Wall Street Analyst Weigh In

Several analysts have commented on PEP shares. Deutsche Bank Aktiengesellschaft lowered their target price on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. TD Cowen decreased their price target on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $172.00 price target on shares of PepsiCo in a research report on Wednesday. Finally, JPMorgan Chase & Co. lowered their price objective on shares of PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a research note on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $176.73.

PepsiCo 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.