Sax Wealth Advisors LLC Reduces Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Sax Wealth Advisors LLC decreased its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 13.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,610 shares of the company’s stock after selling 744 shares during the period. Sax Wealth Advisors LLC’s holdings in PepsiCo were worth $701,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Global Wealth Strategies & Associates raised its position in PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares in the last quarter. Highline Wealth Partners LLC bought a new stake in shares of PepsiCo in the third quarter valued at about $28,000. Legacy Investment Solutions LLC purchased a new stake in PepsiCo in the third quarter worth about $31,000. Mattson Financial Services LLC bought a new position in PepsiCo during the 2nd quarter worth about $34,000. Finally, Rakuten Securities Inc. increased its position in PepsiCo by 93.2% during the 3rd 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 period. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Trading Up 1.2 %

Shares of NASDAQ:PEP opened at $148.25 on Friday. The business’s 50 day moving average price is $155.37 and its 200-day moving average price is $165.83. PepsiCo, Inc. has a 1 year low of $141.51 and a 1 year high of $183.41. The firm has a market capitalization of $203.40 billion, a price-to-earnings ratio of 21.87, a price-to-earnings-growth ratio of 2.57 and a beta of 0.54. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70.

PepsiCo Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on PEP shares. Barclays dropped their price objective on shares of PepsiCo from $183.00 to $158.00 and set an “overweight” rating on the stock in a research note on Friday. Piper Sandler started coverage on PepsiCo in a report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price target on the stock. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Bank of America cut their price objective on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Finally, UBS Group reduced their target price on PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a research report on Thursday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, PepsiCo has an average rating of “Hold” and an average price target 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.