High Net Worth Advisory Group LLC Reduces Stake in PepsiCo, Inc. (NASDAQ:PEP)

High Net Worth Advisory Group LLC cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 4.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,561 shares of the company’s stock after selling 1,410 shares during the period. PepsiCo accounts for about 1.2% of High Net Worth Advisory Group LLC’s portfolio, making the stock its 18th biggest position. High Net Worth Advisory Group LLC’s holdings in PepsiCo were worth $4,343,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

PepsiCo Stock Performance

PEP opened at $149.12 on Monday. The company has a market cap of $204.59 billion, a P/E ratio of 21.99, a price-to-earnings-growth ratio of 2.86 and a beta of 0.54. 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 firm’s 50-day moving average price is $153.88 and its 200-day moving average price is $165.34. PepsiCo, Inc. has a 52-week low of $141.51 and a 52-week high of $183.41.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were given a $1.355 dividend. This represents a $5.42 annualized dividend and a dividend yield of 3.63%. The ex-dividend date was Friday, December 6th. PepsiCo’s payout ratio is 79.94%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PEP shares. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a research report on Wednesday, January 22nd. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. UBS Group decreased 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, January 16th. JPMorgan Chase & Co. decreased their price objective on PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a report on Friday. Finally, Barclays cut their target price on shares of PepsiCo from $183.00 to $158.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. 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 data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target 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.