SOL Capital Management CO Sells 742 Shares of PepsiCo, Inc. (NASDAQ:PEP)

SOL Capital Management CO cut its position in PepsiCo, Inc. (NASDAQ:PEP) by 16.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,667 shares of the company’s stock after selling 742 shares during the period. SOL Capital Management CO’s holdings in PepsiCo were worth $558,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in PEP. Cross Staff Investments Inc boosted its holdings in PepsiCo by 0.9% in the 3rd quarter. Cross Staff Investments Inc now owns 7,080 shares of the company’s stock worth $1,204,000 after acquiring an additional 60 shares during the period. Paulson Wealth Management Inc. raised its position in shares of PepsiCo by 2.1% during the 3rd quarter. Paulson Wealth Management Inc. now owns 2,986 shares of the company’s stock worth $508,000 after purchasing an additional 60 shares during the period. LCM Capital Management Inc lifted its position in PepsiCo by 0.8% in the 3rd quarter. LCM Capital Management Inc now owns 7,573 shares of the company’s stock valued at $1,288,000 after purchasing an additional 62 shares during the last quarter. Demars Financial Group LLC boosted its position in PepsiCo by 1.1% during the 3rd quarter. Demars Financial Group LLC now owns 5,721 shares of the company’s stock worth $973,000 after acquiring an additional 62 shares during the period. Finally, Sigma Investment Counselors Inc. boosted its holdings in shares of PepsiCo by 1.6% in the third quarter. Sigma Investment Counselors Inc. now owns 4,310 shares of the company’s stock valued at $733,000 after acquiring an additional 66 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on PEP. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. UBS Group reduced their price target on PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft decreased their target price on PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. Barclays lowered their price objective on PepsiCo from $183.00 to $158.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Finally, Wells Fargo & Company cut their price objective on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $176.73.

PepsiCo Price Performance

Shares of PEP opened at $150.69 on Friday. The stock has a market cap of $206.75 billion, a P/E ratio of 22.23, a price-to-earnings-growth ratio of 2.91 and a beta of 0.54. PepsiCo, Inc. has a 1 year low of $141.51 and a 1 year high of $183.41. The stock’s 50-day moving average price is $153.35 and its two-hundred day moving average price is $164.97. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were issued a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend was Friday, December 6th. 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.