Crescent Sterling Ltd. Sells 98 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Crescent Sterling Ltd. lessened its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,700 shares of the company’s stock after selling 98 shares during the quarter. PepsiCo makes up about 3.1% of Crescent Sterling Ltd.’s holdings, making the stock its 10th largest position. Crescent Sterling Ltd.’s holdings in PepsiCo were worth $2,996,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Oppenheimer Asset Management Inc. boosted its stake in shares of PepsiCo by 20.6% during the second quarter. Oppenheimer Asset Management Inc. now owns 76,818 shares of the company’s stock valued at $12,670,000 after acquiring an additional 13,134 shares during the last quarter. Prosperity Consulting Group LLC boosted its stake in shares of PepsiCo by 9.9% during the 2nd quarter. Prosperity Consulting Group LLC now owns 6,777 shares of the company’s stock worth $1,118,000 after purchasing an additional 613 shares during the last quarter. J.W. Cole Advisors Inc. lifted its stake in shares of PepsiCo by 46.6% during the second quarter. J.W. Cole Advisors Inc. now owns 20,383 shares of the company’s stock valued at $3,362,000 after buying an additional 6,477 shares during the period. Lyell Wealth Management LP boosted its position in PepsiCo by 8.3% during the second quarter. Lyell Wealth Management LP now owns 30,836 shares of the company’s stock worth $5,086,000 after acquiring an additional 2,364 shares during the last quarter. Finally, Hoge Financial Services LLC grew its stake in PepsiCo by 6.1% in the 2nd quarter. Hoge Financial Services LLC now owns 3,225 shares of the company’s stock worth $532,000 after acquiring an additional 184 shares during the period. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on PEP shares. Bank of America decreased their price objective on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. TD Cowen lowered their price target on PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Royal Bank of Canada cut their price objective on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. Piper Sandler began coverage on shares of PepsiCo in a report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 target price for the company. Finally, Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $180.64.

PepsiCo Price Performance

PEP stock opened at $142.64 on Monday. The firm has a market cap of $195.70 billion, a P/E ratio of 21.04, a price-to-earnings-growth ratio of 2.94 and a beta of 0.54. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. PepsiCo, Inc. has a 1 year low of $141.51 and a 1 year high of $183.41. The stock has a 50-day simple moving average of $157.35 and a 200-day simple moving average of $166.50.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were paid a dividend of $1.355 per share. The ex-dividend date was Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.80%. PepsiCo’s dividend payout ratio is currently 79.94%.

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.