Goelzer Investment Management Inc. Lowers Position in PepsiCo, Inc. (NASDAQ:PEP)

Goelzer Investment Management Inc. reduced its stake in PepsiCo, Inc. (NASDAQ:PEP) by 2.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 79,303 shares of the company’s stock after selling 1,620 shares during the quarter. PepsiCo comprises approximately 0.7% of Goelzer Investment Management Inc.’s holdings, making the stock its 23rd biggest position. Goelzer Investment Management Inc.’s holdings in PepsiCo were worth $12,059,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Global Wealth Strategies & Associates raised its stake in PepsiCo by 59.0% during the third 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 bought a new stake in shares of PepsiCo in the 3rd quarter worth about $28,000. Legacy Investment Solutions LLC bought a new position in shares of PepsiCo in the 3rd quarter valued at about $31,000. Mattson Financial Services LLC purchased a new position in PepsiCo in the second quarter worth about $34,000. Finally, Rakuten Securities Inc. raised its position in PepsiCo by 93.2% during 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 during the period. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Wells Fargo & Company cut their price target on shares of PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Barclays decreased their price objective on shares of PepsiCo from $183.00 to $158.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Finally, Piper Sandler assumed coverage on PepsiCo in a research note on Tuesday, January 7th. They set an “overweight” rating and a $171.00 target price on the stock. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $177.00.

PepsiCo Stock Performance

PEP stock opened at $149.12 on Friday. PepsiCo, Inc. has a 1-year low of $141.51 and a 1-year high of $183.41. The business has a 50-day moving average price of $154.07 and a 200 day moving average price of $165.40. The company has a market capitalization of $204.59 billion, a P/E ratio of 21.99, a PEG ratio of 2.86 and a beta of 0.54. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were given a $1.355 dividend. The ex-dividend date was Friday, December 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.63%. PepsiCo’s payout ratio 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.