Invesco LLC Decreases Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Invesco LLC reduced its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 28.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,202 shares of the company’s stock after selling 1,659 shares during the period. Invesco LLC’s holdings in PepsiCo were worth $639,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Scientech Research LLC bought a new stake in PepsiCo in the second quarter worth $325,000. Invst LLC raised its stake in shares of PepsiCo by 28.1% in the second quarter. Invst LLC now owns 2,870 shares of the company’s stock valued at $467,000 after acquiring an additional 630 shares during the period. Quarry LP boosted its stake in shares of PepsiCo by 409.7% during the 2nd quarter. Quarry LP now owns 892 shares of the company’s stock worth $147,000 after purchasing an additional 717 shares during the period. Pathway Financial Advisers LLC grew its holdings in PepsiCo by 2.1% during the 2nd quarter. Pathway Financial Advisers LLC now owns 34,685 shares of the company’s stock valued at $5,692,000 after purchasing an additional 720 shares during the last quarter. Finally, Granite Bay Wealth Management LLC raised its position in PepsiCo by 9.3% in the 2nd quarter. Granite Bay Wealth Management LLC now owns 25,676 shares of the company’s stock worth $4,235,000 after purchasing an additional 2,187 shares during the period. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Price Performance

PEP stock traded up $0.90 during mid-day trading on Wednesday, reaching $151.15. 442,273 shares of the company’s stock were exchanged, compared to its average volume of 6,515,851. 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, Inc. has a 12-month low of $141.51 and a 12-month high of $183.41. The stock’s 50 day moving average is $153.68 and its 200 day moving average is $165.17. The company has a market cap of $207.37 billion, a price-to-earnings ratio of 22.29, a price-to-earnings-growth ratio of 2.86 and a beta of 0.54.

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were issued a dividend of $1.355 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.59%. PepsiCo’s payout ratio is currently 79.94%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PEP. JPMorgan Chase & Co. cut their target price on PepsiCo from $183.00 to $165.00 and set a “neutral” rating on the stock in a research note on Friday, January 24th. Piper Sandler assumed coverage on PepsiCo in a research report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price objective on the stock. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Royal Bank of Canada lowered their price objective on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. Finally, Wells Fargo & Company decreased their price target on shares of PepsiCo from $170.00 to $155.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $177.00.

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.