Mogy Joel R Investment Counsel Inc. Sells 7,710 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Mogy Joel R Investment Counsel Inc. lowered its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 9.9% during the 4th quarter, HoldingsChannel reports. The fund owned 70,359 shares of the company’s stock after selling 7,710 shares during the period. Mogy Joel R Investment Counsel Inc.’s holdings in PepsiCo were worth $10,699,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PEP. Global Wealth Strategies & Associates raised its holdings 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 buying an additional 59 shares during the last quarter. Highline Wealth Partners LLC bought a new position in PepsiCo in the 3rd quarter valued at approximately $28,000. Legacy Investment Solutions LLC purchased a new stake in PepsiCo during the 3rd quarter valued at $31,000. Mattson Financial Services LLC bought a new stake in shares of PepsiCo in the 2nd quarter worth $34,000. Finally, Rakuten Securities Inc. raised its stake in shares of PepsiCo by 93.2% in the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after purchasing an additional 96 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

PEP has been the subject of several research analyst reports. Piper Sandler began coverage on PepsiCo in a report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price objective for the company. Royal Bank of Canada decreased their price objective on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. JPMorgan Chase & Co. cut their target price on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. UBS Group lowered their price target on PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Finally, Hsbc Global Res upgraded PepsiCo to a “hold” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $178.60.

PepsiCo Stock Performance

PEP opened at $148.55 on Wednesday. The firm has a market cap of $203.81 billion, a P/E ratio of 21.91, a PEG ratio of 2.74 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 company has a 50 day simple moving average of $155.05 and a two-hundred day simple moving average of $165.76. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were paid a $1.355 dividend. The ex-dividend date was Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.65%. PepsiCo’s payout ratio is presently 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.