Simplicity Wealth LLC Sells 21,528 Shares of PepsiCo, Inc. $PEP

Simplicity Wealth LLC decreased its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 52.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,871 shares of the company’s stock after selling 21,528 shares during the quarter. Simplicity Wealth LLC’s holdings in PepsiCo were worth $2,791,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Claris Advisors LLC MO grew its position in shares of PepsiCo by 14.1% during the 2nd quarter. Claris Advisors LLC MO now owns 2,490 shares of the company’s stock valued at $329,000 after acquiring an additional 308 shares during the period. Merit Financial Group LLC raised its stake in shares of PepsiCo by 46.4% during the 2nd quarter. Merit Financial Group LLC now owns 114,344 shares of the company’s stock valued at $15,098,000 after purchasing an additional 36,239 shares during the period. Clayton Financial Group LLC purchased a new stake in shares of PepsiCo in the third quarter worth about $872,000. Avantax Advisory Services Inc. lifted its stake in PepsiCo by 2.6% in the 2nd quarter. Avantax Advisory Services Inc. now owns 185,961 shares of the company’s stock worth $24,554,000 after purchasing an additional 4,627 shares in the last quarter. Finally, Naples Global Advisors LLC boosted its stake in PepsiCo by 2.3% during the second quarter. Naples Global Advisors LLC now owns 26,270 shares of the company’s stock valued at $3,469,000 after buying an additional 592 shares during the period. 73.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PEP has been the subject of a number of research reports. Barclays set a $148.00 price target on shares of PepsiCo in a research note on Friday, January 16th. Loop Capital set a $164.00 target price on PepsiCo in a report on Thursday, October 23rd. JPMorgan Chase & Co. upgraded PepsiCo from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $151.00 to $164.00 in a research report on Wednesday, December 10th. BNP Paribas Exane raised PepsiCo from a “hold” rating to an “outperform” rating and set a $179.00 price objective for the company in a research note on Friday, January 16th. Finally, Citigroup raised their target price on shares of PepsiCo from $165.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, December 17th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $159.29.

PepsiCo Stock Performance

PEP opened at $144.40 on Friday. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $160.15. The company’s 50 day moving average is $145.78 and its 200 day moving average is $144.90. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26. The company has a market cap of $197.44 billion, a price-to-earnings ratio of 27.45, a PEG ratio of 4.81 and a beta of 0.42.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 6th. Stockholders of record on Friday, December 5th were given a dividend of $1.4225 per share. The ex-dividend date was Friday, December 5th. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.9%. PepsiCo’s dividend payout ratio (DPR) is presently 108.17%.

About PepsiCo

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.