Concord Asset Management LLC VA Cuts Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Concord Asset Management LLC VA trimmed its position in PepsiCo, Inc. (NASDAQ:PEP) by 21.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,524 shares of the company’s stock after selling 3,710 shares during the period. Concord Asset Management LLC VA’s holdings in PepsiCo were worth $2,057,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Highline Wealth Partners LLC purchased a new stake in shares of PepsiCo during the third quarter valued at $28,000. Legacy Investment Solutions LLC acquired a new position in PepsiCo during the third quarter valued at $31,000. Mattson Financial Services LLC purchased a new stake in PepsiCo in the second quarter valued at $34,000. Rakuten Securities Inc. grew its position in PepsiCo by 93.2% during the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after purchasing an additional 96 shares during the period. Finally, ORG Wealth Partners LLC acquired a new position in shares of PepsiCo in the 3rd quarter valued at about $44,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Wells Fargo & Company reduced their price target 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. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Royal Bank of Canada restated a “sector perform” rating and set a $172.00 price target on shares of PepsiCo in a research report on Wednesday. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a research report on Wednesday, January 22nd. Finally, Barclays cut their price target on PepsiCo from $183.00 to $158.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. One investment 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 data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $176.73.

PepsiCo Stock Down 0.8 %

Shares of NASDAQ PEP opened at $150.69 on Friday. PepsiCo, Inc. has a 1 year low of $141.51 and a 1 year high of $183.41. The company has a market capitalization of $206.75 billion, a P/E ratio of 22.23, a P/E/G ratio of 2.91 and a beta of 0.54. The company has a 50 day simple moving average of $153.35 and a 200-day simple moving average of $164.97. 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 Announces Dividend

The firm 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 annualized dividend and a dividend yield of 3.60%. The ex-dividend date was Friday, December 6th. PepsiCo’s dividend payout ratio (DPR) is presently 79.94%.

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.