Abner Herrman & Brock LLC Cuts Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Abner Herrman & Brock LLC reduced its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.6% during the fourth quarter, Holdings Channel reports. The firm owned 14,764 shares of the company’s stock after selling 240 shares during the period. Abner Herrman & Brock LLC’s holdings in PepsiCo were worth $2,245,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Highline Wealth Partners LLC bought a new position in shares of PepsiCo in the third quarter valued at approximately $28,000. Legacy Investment Solutions LLC purchased a new stake in shares of PepsiCo during the 3rd quarter valued at $31,000. 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 valued at $34,000 after purchasing an additional 96 shares during the last quarter. ORG Wealth Partners LLC bought a new position in shares of PepsiCo during the 3rd quarter worth $44,000. Finally, Global Wealth Strategies & Associates lifted its stake in PepsiCo by 145.3% in the 4th quarter. Global Wealth Strategies & Associates now owns 390 shares of the company’s stock worth $59,000 after purchasing an additional 231 shares in the last quarter. 73.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PEP. TD Cowen lowered their price objective on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. JPMorgan Chase & Co. cut their price target on shares of PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a research note on Friday, January 24th. Piper Sandler assumed coverage on PepsiCo in a report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price objective on the stock. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. One research 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. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $176.73.

PepsiCo Stock Down 0.8 %

Shares of NASDAQ PEP opened at $150.69 on Monday. The stock has a market cap of $206.75 billion, a PE ratio of 22.23, a price-to-earnings-growth ratio of 2.92 and a beta of 0.54. The business has a 50-day moving average price of $153.12 and a 200 day moving average price of $164.88. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a 52-week low of $141.51 and a 52-week high of $183.41.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were given 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 payout ratio is currently 79.94%.

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.