Reliant Investment Management LLC Cuts Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Reliant Investment Management LLC lessened its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 61.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 12,002 shares of the company’s stock after selling 18,871 shares during the period. Reliant Investment Management LLC’s holdings in PepsiCo were worth $1,825,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Global Wealth Strategies & Associates raised its stake in PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after acquiring an additional 59 shares during the last quarter. Cross Staff Investments Inc grew its position in shares of PepsiCo by 0.9% during the 3rd quarter. Cross Staff Investments Inc now owns 7,080 shares of the company’s stock valued at $1,204,000 after acquiring an additional 60 shares during the period. Paulson Wealth Management Inc. grew its position in shares of PepsiCo by 2.1% during the 3rd quarter. Paulson Wealth Management Inc. now owns 2,986 shares of the company’s stock valued at $508,000 after acquiring an additional 60 shares during the period. LCM Capital Management Inc boosted its holdings in PepsiCo by 0.8% in the 3rd quarter. LCM Capital Management Inc now owns 7,573 shares of the company’s stock worth $1,288,000 after buying an additional 62 shares during the last quarter. Finally, Demars Financial Group LLC boosted its holdings in PepsiCo by 1.1% in the 3rd quarter. Demars Financial Group LLC now owns 5,721 shares of the company’s stock worth $973,000 after buying an additional 62 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

PEP has been the topic of a number of research reports. TD Cowen decreased their target price on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Bank of America dropped their target price on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. dropped their price target on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $178.60.

PepsiCo Trading Up 1.2 %

PepsiCo stock opened at $148.25 on Tuesday. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The firm has a 50-day moving average price of $155.37 and a two-hundred day moving average price of $165.86. The firm has a market capitalization of $203.40 billion, a price-to-earnings ratio of 21.87, a PEG ratio of 2.74 and a beta of 0.54. PepsiCo, Inc. has a 52-week low of $141.51 and a 52-week high of $183.41.

PepsiCo Dividend Announcement

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

PepsiCo Company 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.