Sterling Financial Group Inc. Cuts Stake in PepsiCo, Inc. (NASDAQ:PEP)

Sterling Financial Group Inc. lessened its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 6.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,037 shares of the company’s stock after selling 132 shares during the quarter. Sterling Financial Group Inc.’s holdings in PepsiCo were worth $310,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PEP. State Street Corp raised its holdings in PepsiCo by 5.1% in the third quarter. State Street Corp now owns 57,268,030 shares of the company’s stock valued at $9,738,429,000 after acquiring an additional 2,775,679 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of PepsiCo by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock valued at $5,170,529,000 after purchasing an additional 543,558 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of PepsiCo by 5.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock worth $3,632,413,000 after purchasing an additional 1,125,059 shares during the last quarter. Legal & General Group Plc grew its stake in shares of PepsiCo by 7.2% during the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock worth $2,234,400,000 after purchasing an additional 905,468 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in PepsiCo by 21.1% in the third quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock valued at $2,293,049,000 after buying an additional 2,264,445 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Up 1.2 %

PepsiCo stock opened at $146.58 on Friday. The stock has a 50 day moving average of $156.06 and a two-hundred day moving average of $166.05. PepsiCo, Inc. has a twelve month low of $141.51 and a twelve month high of $183.41. The stock has a market capitalization of $201.11 billion, a price-to-earnings ratio of 21.62, a PEG ratio of 2.57 and a beta of 0.54. 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 business also recently declared 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 annualized dividend and a dividend yield of 3.70%. The ex-dividend date of this dividend was Friday, December 6th. PepsiCo’s dividend payout ratio is presently 79.94%.

Analysts Set New Price Targets

PEP has been the subject of several analyst reports. Piper Sandler began coverage on PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price objective for the company. Royal Bank of Canada dropped their price target on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. Wells Fargo & Company reduced their price objective on shares of PepsiCo from $170.00 to $155.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. TD Cowen dropped their target price on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Finally, Bank of America reduced their price target on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $180.27.

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.