Fifth Third Wealth Advisors LLC Trims Stake in PepsiCo, Inc. (NASDAQ:PEP)

Fifth Third Wealth Advisors LLC lessened its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 7.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 26,252 shares of the company’s stock after selling 1,965 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in PepsiCo were worth $3,992,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of PEP. R.H. Investment Group LLC purchased a new stake in shares of PepsiCo in the fourth quarter worth $286,000. Pines Wealth Management LLC purchased a new position in shares of PepsiCo in the fourth quarter valued at about $497,000. Accurate Wealth Management LLC grew its position in shares of PepsiCo by 4.8% during the fourth quarter. Accurate Wealth Management LLC now owns 9,809 shares of the company’s stock worth $1,403,000 after purchasing an additional 450 shares in the last quarter. Fiduciary Financial Group LLC raised its stake in PepsiCo by 5.6% during the 4th quarter. Fiduciary Financial Group LLC now owns 1,852 shares of the company’s stock valued at $264,000 after purchasing an additional 98 shares during the period. Finally, Breakwater Capital Group lifted its holdings in PepsiCo by 11.4% in the 4th quarter. Breakwater Capital Group now owns 5,648 shares of the company’s stock worth $859,000 after purchasing an additional 577 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on PEP shares. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Royal Bank of Canada decreased their price target on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Bank of America dropped their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Finally, Piper Sandler started coverage on PepsiCo in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, PepsiCo currently has a consensus rating of “Hold” and an average target price of $180.64.

PepsiCo Stock Up 0.3 %

Shares of NASDAQ PEP opened at $144.95 on Wednesday. The company has a market cap of $198.87 billion, a P/E ratio of 21.38, a PEG ratio of 2.94 and a beta of 0.54. The firm has a 50-day simple moving average of $156.46 and a two-hundred day simple moving average of $166.20. PepsiCo, Inc. has a 1 year low of $141.51 and a 1 year 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 paid a $1.355 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.74%. PepsiCo’s payout ratio is 79.94%.

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.