Hennion & Walsh Asset Management Inc. decreased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 25.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 10,268 shares of the company's stock after selling 3,503 shares during the period. Hennion & Walsh Asset Management Inc.'s holdings in PepsiCo were worth $1,561,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in the stock. StrongBox Wealth LLC grew its holdings in PepsiCo by 3.0% in the 4th quarter. StrongBox Wealth LLC now owns 16,331 shares of the company's stock valued at $2,483,000 after buying an additional 479 shares during the last quarter. Financial Enhancement Group LLC acquired a new stake in PepsiCo in the 4th quarter valued at approximately $396,000. Flywheel Private Wealth LLC acquired a new stake in PepsiCo in the 4th quarter valued at approximately $414,000. Rovin Capital UT ADV grew its holdings in PepsiCo by 3.7% in the 4th quarter. Rovin Capital UT ADV now owns 2,854 shares of the company's stock valued at $434,000 after buying an additional 103 shares during the last quarter. Finally, USA Financial Formulas acquired a new stake in PepsiCo in the 4th quarter valued at approximately $195,000. Institutional investors and hedge funds own 73.07% of the company's stock.
PEP traded up $1.71 on Friday, hitting $148.25. 7,213,692 shares of the company were exchanged, compared to its average volume of 5,895,834. PepsiCo, Inc. has a 12 month low of $141.51 and a 12 month high of $183.41. The company has a market cap of $203.40 billion, a PE ratio of 21.87, a PEG ratio of 2.57 and a beta of 0.54. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The stock's fifty day moving average is $155.37 and its 200-day moving average is $165.83.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were paid a $1.355 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $5.42 annualized dividend and a yield of 3.66%. PepsiCo's dividend payout ratio is 79.94%.
A number of analysts have issued reports on the company. Hsbc Global Res raised PepsiCo to a "hold" rating in a report on Thursday, October 10th. JPMorgan Chase & Co. decreased their price objective on PepsiCo from $185.00 to $183.00 and set a "neutral" rating on the stock in a report on Wednesday, October 9th. Piper Sandler assumed coverage on PepsiCo in a report on Tuesday, January 7th. They set an "overweight" rating and a $171.00 price objective on the stock. Deutsche Bank Aktiengesellschaft raised PepsiCo from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $179.00 to $184.00 in a report on Thursday, December 12th. Finally, Royal Bank of Canada decreased their price objective on PepsiCo from $177.00 to $176.00 and set a "sector perform" rating on the stock in a report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $178.60.
Read Our Latest Report on 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.
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