Sovereign Financial Group Inc. Sells 224 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Sovereign Financial Group Inc. decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 5.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,297 shares of the company’s stock after selling 224 shares during the quarter. Sovereign Financial Group Inc.’s holdings in PepsiCo were worth $653,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PEP. Global Wealth Strategies & Associates increased its stake in shares of PepsiCo by 59.0% in 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 during the period. Highline Wealth Partners LLC bought a new stake in PepsiCo during the 3rd quarter worth approximately $28,000. Legacy Investment Solutions LLC bought a new position in shares of PepsiCo during the third quarter valued at $31,000. Mattson Financial Services LLC acquired a new position in shares of PepsiCo during the second quarter worth $34,000. Finally, Rakuten Securities Inc. increased its holdings in PepsiCo by 93.2% in the third 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. Institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on PEP shares. JPMorgan Chase & Co. reduced their price target on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Morgan Stanley downgraded shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price for the company. in a research report on Friday, September 20th. Royal Bank of Canada dropped their price target on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. 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. Finally, Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, PepsiCo currently has a consensus rating of “Hold” and a consensus target price of $180.64.

PepsiCo Trading Up 0.3 %

Shares of PepsiCo stock opened at $144.95 on Wednesday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41. The stock has a 50 day moving average price of $156.46 and a two-hundred day moving average price of $166.20. The stock has a market capitalization of $198.87 billion, a PE ratio of 21.38, a price-to-earnings-growth ratio of 2.94 and a beta of 0.54.

PepsiCo Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were issued 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 3.74%. 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.