PepsiCo, Inc. (NASDAQ:PEP) Position Trimmed by Eastover Investment Advisors LLC

Eastover Investment Advisors LLC lowered its stake in PepsiCo, Inc. (NASDAQ:PEP) by 1.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 38,616 shares of the company’s stock after selling 498 shares during the period. PepsiCo makes up about 2.7% of Eastover Investment Advisors LLC’s investment portfolio, making the stock its 23rd largest holding. Eastover Investment Advisors LLC’s holdings in PepsiCo were worth $5,872,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of PEP. Empowered Funds LLC raised its stake in PepsiCo by 9.2% during the 3rd quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock valued at $16,968,000 after purchasing an additional 8,406 shares during the period. Janus Henderson Group PLC grew its holdings in shares of PepsiCo by 11.0% during the third quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock valued at $59,549,000 after buying an additional 34,633 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV raised its position in PepsiCo by 12.8% during the fourth quarter. Hudson Valley Investment Advisors Inc. ADV now owns 41,580 shares of the company’s stock valued at $6,323,000 after buying an additional 4,712 shares during the period. IHT Wealth Management LLC boosted its position in PepsiCo by 19.3% during the 3rd quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock worth $5,493,000 after acquiring an additional 5,220 shares during the period. Finally, Meridian Wealth Management LLC purchased a new position in PepsiCo during the 3rd quarter valued at about $9,589,000. 73.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on PEP. TD Cowen decreased their price target on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Piper Sandler assumed coverage on shares of PepsiCo in a research note on Tuesday, January 7th. They set an “overweight” rating and a $171.00 target price for the company. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Wells Fargo & Company reduced their price objective on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. cut their price target on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, PepsiCo currently has an average rating of “Hold” and a consensus price target of $180.64.

PepsiCo Stock Performance

Shares of PEP opened at $142.64 on Monday. 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, Inc. has a one year low of $141.51 and a one year high of $183.41. The company’s fifty day moving average price is $157.35 and its 200 day moving average price is $166.50. The company has a market capitalization of $195.70 billion, a PE ratio of 21.04, a price-to-earnings-growth ratio of 2.94 and a beta of 0.54.

PepsiCo Announces Dividend

The firm also recently announced 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 was Friday, December 6th. This represents a $5.42 annualized dividend and a yield of 3.80%. PepsiCo’s payout ratio is 79.94%.

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.