Wendell David Associates Inc. Lowers Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Wendell David Associates Inc. reduced its stake in PepsiCo, Inc. (NASDAQ:PEP) by 6.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 82,675 shares of the company’s stock after selling 5,956 shares during the quarter. PepsiCo accounts for 1.2% of Wendell David Associates Inc.’s investment portfolio, making the stock its 25th largest position. Wendell David Associates Inc.’s holdings in PepsiCo were worth $12,572,000 as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. Wesbanco Bank Inc. increased its stake in PepsiCo by 3.3% during the fourth quarter. Wesbanco Bank Inc. now owns 157,700 shares of the company’s stock worth $23,980,000 after purchasing an additional 5,015 shares during the period. Westside Investment Management Inc. increased its position in shares of PepsiCo by 10.8% in the 4th quarter. Westside Investment Management Inc. now owns 2,505 shares of the company’s stock valued at $381,000 after purchasing an additional 244 shares during the last quarter. Phoenix Wealth Advisors lifted its position in shares of PepsiCo by 1.4% during the 4th quarter. Phoenix Wealth Advisors now owns 7,263 shares of the company’s stock worth $1,104,000 after purchasing an additional 103 shares during the last quarter. Albion Financial Group UT increased its holdings in PepsiCo by 0.6% in the fourth quarter. Albion Financial Group UT now owns 39,108 shares of the company’s stock valued at $5,947,000 after buying an additional 239 shares during the last quarter. Finally, Eagle Wealth Strategies LLC raised its position in shares of PepsiCo by 5.3% during the 4th quarter. Eagle Wealth Strategies LLC now owns 2,802 shares of the company’s stock worth $426,000 after acquiring an additional 142 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Down 0.3 %

Shares of NASDAQ PEP opened at $148.09 on Thursday. The firm has a 50-day moving average price of $154.74 and a 200 day moving average price of $165.64. The stock has a market capitalization of $203.18 billion, a price-to-earnings ratio of 21.84, a price-to-earnings-growth ratio of 2.75 and a beta of 0.54. 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, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41.

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were issued a $1.355 dividend. This represents a $5.42 annualized dividend 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%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PEP. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Barclays reduced their price objective on PepsiCo from $183.00 to $158.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Piper Sandler assumed coverage on shares of PepsiCo in a report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 target price on the stock. Deutsche Bank Aktiengesellschaft decreased their target price on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Royal Bank of Canada reduced their price objective on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research note on Friday, October 4th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average 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.