PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Sterling Financial Group Inc.

Sterling Financial Group Inc. lowered its stake in PepsiCo, Inc. (NASDAQ:PEP) by 6.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,037 shares of the company’s stock after selling 132 shares during the quarter. Sterling Financial Group Inc.’s holdings in PepsiCo were worth $310,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Global Wealth Strategies & Associates boosted 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 worth $27,000 after acquiring an additional 59 shares during the last quarter. Highline Wealth Partners LLC purchased a new position in PepsiCo in the 3rd quarter valued at $28,000. Legacy Investment Solutions LLC acquired a new stake in PepsiCo during the 3rd quarter worth $31,000. Rakuten Securities Inc. raised its position in shares of 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 buying an additional 96 shares during the last quarter. Finally, Mattson Financial Services LLC purchased a new position in shares of PepsiCo in the second quarter worth about $34,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. TD Cowen dropped their price objective on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Morgan Stanley cut PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target for the company. in a report on Friday, September 20th. JPMorgan Chase & Co. lowered their price objective on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Royal Bank of Canada cut their target price on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research note on Friday, October 4th. Finally, StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. One 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $180.27.

PepsiCo Stock Performance

NASDAQ:PEP opened at $146.58 on Friday. PepsiCo, Inc. has a fifty-two week low of $141.51 and a fifty-two week high of $183.41. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The company has a 50 day moving average price of $156.06 and a 200 day moving average price of $166.05. The stock has a market capitalization of $201.11 billion, a P/E ratio of 21.62, a PEG ratio of 2.57 and a beta of 0.54.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were paid a $1.355 dividend. The ex-dividend date was Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.70%. PepsiCo’s payout ratio 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.