PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC lessened its stake in PepsiCo, Inc. (NASDAQ:PEP) by 94.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,596 shares of the company’s stock after selling 42,244 shares during the period. Pallas Capital Advisors LLC’s holdings in PepsiCo were worth $395,000 at the end of the most recent quarter.

Other institutional investors and 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 buying an additional 59 shares during the period. Highline Wealth Partners LLC acquired a new position in PepsiCo in the 3rd quarter valued at about $28,000. Legacy Investment Solutions LLC purchased a new stake in PepsiCo during the third quarter worth about $31,000. Mattson Financial Services LLC acquired a new stake in shares of PepsiCo during the second quarter worth about $34,000. Finally, Rakuten Securities Inc. grew its holdings in shares of PepsiCo by 93.2% in the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after purchasing an additional 96 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

PEP has been the topic of a number of research reports. Royal Bank of Canada reduced their target price 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. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft raised PepsiCo from a “hold” rating to a “buy” rating and boosted their target price for the stock from $179.00 to $184.00 in a research note on Thursday, December 12th. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. lowered their price objective on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $180.64.

PepsiCo Stock Performance

Shares of PEP stock opened at $144.95 on Wednesday. The stock’s 50-day moving average is $156.46 and its two-hundred day moving average is $166.20. 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 firm has a market cap of $198.87 billion, a price-to-earnings ratio of 21.38, a PEG ratio of 2.94 and a beta of 0.54.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were given 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 3.74%. PepsiCo’s dividend payout ratio (DPR) is presently 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.