Towerpoint Wealth LLC Sells 120 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Towerpoint Wealth LLC cut its stake in PepsiCo, Inc. (NASDAQ:PEP) by 5.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,972 shares of the company’s stock after selling 120 shares during the period. Towerpoint Wealth LLC’s holdings in PepsiCo were worth $300,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Global Wealth Strategies & Associates grew its stake in PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after purchasing an additional 59 shares in the last quarter. Highline Wealth Partners LLC purchased a new stake in shares of PepsiCo in the 3rd quarter worth $28,000. Legacy Investment Solutions LLC bought a new position in shares of PepsiCo during the 3rd quarter worth $31,000. Mattson Financial Services LLC purchased a new position in shares of PepsiCo during the second quarter valued at $34,000. Finally, Rakuten Securities Inc. lifted its stake in PepsiCo by 93.2% in the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after acquiring an additional 96 shares during the period. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

NASDAQ:PEP opened at $146.58 on Friday. The stock has a market capitalization of $201.11 billion, a PE ratio of 21.62, a price-to-earnings-growth ratio of 2.57 and a beta of 0.54. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The stock’s 50-day moving average price is $156.06 and its 200-day moving average price is $166.05.

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 3.70%. PepsiCo’s dividend payout ratio (DPR) is 79.94%.

Wall Street Analysts Forecast Growth

PEP has been the subject of several research reports. Morgan Stanley cut shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target for the company. in a research report on Friday, September 20th. Hsbc Global Res raised PepsiCo to a “hold” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. reduced their price target on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft raised PepsiCo from a “hold” rating to a “buy” rating and raised their price objective for the company from $179.00 to $184.00 in a research report on Thursday, December 12th. Finally, Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $180.27.

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.