PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Concord Asset Management LLC VA

Concord Asset Management LLC VA lowered its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 21.5% in the fourth quarter, HoldingsChannel reports. The firm owned 13,524 shares of the company’s stock after selling 3,710 shares during the quarter. Concord Asset Management LLC VA’s holdings in PepsiCo were worth $2,057,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in PEP. Highline Wealth Partners LLC acquired a new stake in shares of PepsiCo in the third quarter valued at $28,000. Legacy Investment Solutions LLC acquired a new stake in PepsiCo in the 3rd quarter valued at about $31,000. Mattson Financial Services LLC purchased a new position in shares of PepsiCo in the 2nd quarter valued at about $34,000. Rakuten Securities Inc. grew its holdings in PepsiCo by 93.2% during the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after acquiring an additional 96 shares in the last quarter. Finally, ORG Wealth Partners LLC purchased a new position in PepsiCo in the third quarter valued at $44,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Price Performance

Shares of NASDAQ PEP opened at $150.69 on Friday. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41. The stock has a market cap of $206.75 billion, a price-to-earnings ratio of 22.23, a PEG ratio of 2.91 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. The company’s 50-day moving average price is $153.35 and its 200 day moving average price is $164.97.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were given a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date of this dividend was Friday, December 6th. PepsiCo’s dividend payout ratio is presently 79.94%.

Wall Street Analyst Weigh In

PEP has been the topic of a number of research analyst reports. TD Cowen cut their target price on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Piper Sandler assumed coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price target for the company. Wells Fargo & Company lowered their price objective on shares of PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Finally, Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. One investment 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. According to MarketBeat.com, PepsiCo presently has a consensus rating of “Hold” and a consensus price target of $176.73.

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.