Riverbridge Partners LLC Cuts Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Riverbridge Partners LLC cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 8.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 15,927 shares of the company’s stock after selling 1,513 shares during the period. Riverbridge Partners LLC’s holdings in PepsiCo were worth $2,422,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of PEP. Global Wealth Strategies & Associates increased its stake in PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after buying an additional 59 shares in the last quarter. Highline Wealth Partners LLC acquired a new stake in shares of PepsiCo in the third quarter valued at approximately $28,000. Legacy Investment Solutions LLC acquired a new position in PepsiCo during the third quarter worth $31,000. Rakuten Securities Inc. grew its holdings in PepsiCo by 93.2% in the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after buying an additional 96 shares in the last quarter. Finally, Mattson Financial Services LLC purchased a new position in shares of PepsiCo during the 2nd quarter worth $34,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

Shares of PEP stock opened at $148.09 on Thursday. The company has a market cap of $203.18 billion, a P/E ratio of 21.84, a PEG ratio of 2.75 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 firm has a fifty day moving average price of $154.74 and a 200 day moving average price of $165.64. PepsiCo, Inc. has a 12 month low of $141.51 and a 12 month high of $183.41.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were issued a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date of this dividend was Friday, December 6th. PepsiCo’s dividend payout ratio (DPR) is 79.94%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on PEP shares. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. UBS Group reduced their price target on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Wells Fargo & Company reduced their price objective on shares of PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Finally, Royal Bank of Canada dropped their price target on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $178.20.

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.