Founders Capital Management Reduces Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Founders Capital Management decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,425 shares of the company’s stock after selling 175 shares during the quarter. PepsiCo accounts for about 0.9% of Founders Capital Management’s holdings, making the stock its 25th biggest position. Founders Capital Management’s holdings in PepsiCo were worth $1,433,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of PEP. Global Wealth Strategies & Associates raised its position in shares of PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after purchasing an additional 59 shares during the last quarter. Highline Wealth Partners LLC purchased a new position in PepsiCo during the third quarter worth $28,000. Legacy Investment Solutions LLC acquired a new position in shares of PepsiCo in the third quarter worth $31,000. Mattson Financial Services LLC purchased a new stake in shares of PepsiCo in the second quarter valued at $34,000. Finally, Rakuten Securities Inc. increased its position in PepsiCo by 93.2% during the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after purchasing an additional 96 shares in the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on PEP. Bank of America decreased their price target on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Piper Sandler started coverage on PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price target for the company. JPMorgan Chase & Co. reduced their price objective on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft raised shares of PepsiCo from a “hold” rating to a “buy” rating and increased their target price for the stock from $179.00 to $184.00 in a research report on Thursday, December 12th. Finally, Royal Bank of Canada decreased 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 note on Friday, October 4th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, PepsiCo currently has a consensus rating of “Hold” and an average target price of $180.64.

PepsiCo Stock Up 1.4 %

Shares of PEP traded up $1.99 during midday trading on Monday, hitting $144.63. The company had a trading volume of 3,051,448 shares, compared to its average volume of 6,622,153. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41. The company’s 50 day moving average price is $157.35 and its 200 day moving average price is $166.50. The stock has a market cap of $198.43 billion, a price-to-earnings ratio of 21.33, a PEG ratio of 2.94 and a beta of 0.54.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were issued a $1.355 dividend. The ex-dividend date was Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.75%. PepsiCo’s dividend payout ratio (DPR) 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.