Bay Rivers Group Lowers Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Bay Rivers Group reduced its position in PepsiCo, Inc. (NASDAQ:PEP) by 1.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,583 shares of the company’s stock after selling 100 shares during the quarter. Bay Rivers Group’s holdings in PepsiCo were worth $849,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Global Wealth Strategies & Associates raised its holdings in shares of PepsiCo by 59.0% in the 3rd 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. Highline Wealth Partners LLC purchased a new stake in PepsiCo during the third quarter worth $28,000. Legacy Investment Solutions LLC bought a new stake in PepsiCo during the 3rd quarter valued at $31,000. Rakuten Securities Inc. increased its holdings in shares of PepsiCo by 93.2% in the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after acquiring an additional 96 shares during the period. Finally, Mattson Financial Services LLC purchased a new stake in shares of PepsiCo during the 2nd quarter worth $34,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on PEP shares. TD Cowen cut their target price 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 upgraded shares of PepsiCo to a “hold” rating in a research note on Thursday, October 10th. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft decreased their price objective on PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a report on Wednesday, January 22nd. Finally, Wells Fargo & Company dropped their target price on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. One investment 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’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $177.00.

PepsiCo Price Performance

Shares of NASDAQ PEP opened at $154.61 on Tuesday. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week 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 firm has a market cap of $212.12 billion, a P/E ratio of 22.80, a P/E/G ratio of 2.86 and a beta of 0.54. The business’s 50 day moving average price is $153.88 and its 200 day moving average price is $165.35.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Stockholders 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 dividend yield of 3.51%. PepsiCo’s payout ratio is currently 79.94%.

PepsiCo Company 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.