PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Meridian Financial LLC

Meridian Financial LLC cut its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 9.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,402 shares of the company’s stock after selling 150 shares during the quarter. Meridian Financial LLC’s holdings in PepsiCo were worth $213,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of PEP. Global Wealth Strategies & Associates lifted its position in PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after buying an additional 59 shares in the last quarter. Cross Staff Investments Inc lifted its holdings in shares of PepsiCo by 0.9% during the 3rd quarter. Cross Staff Investments Inc now owns 7,080 shares of the company’s stock valued at $1,204,000 after acquiring an additional 60 shares in the last quarter. Paulson Wealth Management Inc. increased its holdings in PepsiCo by 2.1% in the 3rd quarter. Paulson Wealth Management Inc. now owns 2,986 shares of the company’s stock valued at $508,000 after purchasing an additional 60 shares in the last quarter. LCM Capital Management Inc raised its position in PepsiCo by 0.8% in the third quarter. LCM Capital Management Inc now owns 7,573 shares of the company’s stock valued at $1,288,000 after purchasing an additional 62 shares during the period. Finally, Demars Financial Group LLC boosted its position in shares of PepsiCo by 1.1% in the third quarter. Demars Financial Group LLC now owns 5,721 shares of the company’s stock worth $973,000 after buying an additional 62 shares during the period. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Stock Performance

Shares of NASDAQ PEP opened at $148.25 on Friday. The stock has a market capitalization of $203.40 billion, a P/E ratio of 21.87, a P/E/G ratio of 2.57 and a beta of 0.54. The firm’s 50-day moving average price is $155.37 and its two-hundred day moving average price is $165.83. PepsiCo, Inc. has a 52-week low of $141.51 and a 52-week high of $183.41. 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 Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts recently commented on PEP shares. Bank of America reduced their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Piper Sandler initiated coverage on shares of PepsiCo in a research note on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price target on the stock. 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 research report on Friday, October 4th. Hsbc Global Res raised PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Finally, Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $178.60.

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.