Goelzer Investment Management Inc. Sells 1,620 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Goelzer Investment Management Inc. reduced its stake in PepsiCo, Inc. (NASDAQ:PEP) by 2.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 79,303 shares of the company’s stock after selling 1,620 shares during the quarter. PepsiCo comprises approximately 0.7% of Goelzer Investment Management Inc.’s holdings, making the stock its 23rd largest position. Goelzer Investment Management Inc.’s holdings in PepsiCo were worth $12,059,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Empowered Funds LLC grew its holdings in shares of PepsiCo by 9.2% during the third quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock valued at $16,968,000 after buying an additional 8,406 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in PepsiCo by 104.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,705,574 shares of the company’s stock valued at $259,350,000 after purchasing an additional 870,451 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of PepsiCo by 11.0% in the 3rd quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock worth $59,549,000 after purchasing an additional 34,633 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV raised its stake in shares of PepsiCo by 12.8% in the fourth quarter. Hudson Valley Investment Advisors Inc. ADV now owns 41,580 shares of the company’s stock worth $6,323,000 after purchasing an additional 4,712 shares during the last quarter. Finally, IHT Wealth Management LLC boosted its position in shares of PepsiCo by 19.3% during the third quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock valued at $5,493,000 after buying an additional 5,220 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

Shares of NASDAQ PEP opened at $149.12 on Friday. 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 1 year low of $141.51 and a 1 year high of $183.41. The firm has a fifty day moving average price of $154.07 and a 200-day moving average price of $165.40. The stock has a market cap of $204.59 billion, a PE ratio of 21.99, a price-to-earnings-growth ratio of 2.86 and a beta of 0.54.

PepsiCo Dividend Announcement

The firm also recently disclosed 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 3.63%. PepsiCo’s payout ratio is 79.94%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Wells Fargo & Company lowered their target price on shares of PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. TD Cowen lowered their price objective on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft cut their target price on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a research report on Wednesday. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Finally, Hsbc Global Res upgraded PepsiCo to a “hold” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $177.00.

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.