Ritholtz Wealth Management reduced its position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 20.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,130 shares of the company's stock after selling 3,308 shares during the period. Ritholtz Wealth Management's holdings in PepsiCo were worth $1,997,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Tallon Kerry Patrick purchased a new position in shares of PepsiCo during the 4th quarter valued at $224,000. StrongBox Wealth LLC boosted its holdings in PepsiCo by 3.0% in the fourth quarter. StrongBox Wealth LLC now owns 16,331 shares of the company's stock worth $2,483,000 after purchasing an additional 479 shares in the last quarter. Financial Enhancement Group LLC bought a new position in PepsiCo during the fourth quarter valued at about $396,000. Flywheel Private Wealth LLC acquired a new stake in shares of PepsiCo in the fourth quarter worth about $414,000. Finally, Rovin Capital UT ADV raised its stake in shares of PepsiCo by 3.7% in the 4th quarter. Rovin Capital UT ADV now owns 2,854 shares of the company's stock valued at $434,000 after acquiring an additional 103 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company's stock.
NASDAQ:PEP traded up $1.71 during trading hours on Friday, hitting $148.25. 7,213,692 shares of the stock were exchanged, compared to its average volume of 5,895,834. The company's 50 day moving average is $155.37 and its two-hundred day moving average is $165.83. The company has a market capitalization of $203.40 billion, a P/E ratio of 21.87, a price-to-earnings-growth ratio of 2.57 and a beta of 0.54. PepsiCo, Inc. has a twelve month low of $141.51 and a twelve month high of $183.41. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96.
The company also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were given a $1.355 dividend. 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 payout ratio is 79.94%.
Several equities analysts have commented on PEP shares. Barclays cut their price target on PepsiCo from $183.00 to $158.00 and set an "overweight" rating for the company in a report on Friday. UBS Group reduced their target price on PepsiCo from $193.00 to $175.00 and set a "buy" rating for the company in a research report on Thursday. StockNews.com upgraded PepsiCo from a "hold" rating to a "buy" rating in a research note on Tuesday, November 5th. 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. Finally, Piper Sandler started coverage on PepsiCo in a report on Tuesday, January 7th. They set an "overweight" rating and a $171.00 price objective for the company. 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. According to MarketBeat, PepsiCo presently has a consensus rating of "Hold" and an average target price of $178.60.
Get Our Latest Analysis on 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.
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