Pinnacle Financial Partners Inc Sells 7,860 Shares of PepsiCo, Inc. $PEP

Pinnacle Financial Partners Inc reduced its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 15.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,468 shares of the company’s stock after selling 7,860 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in PepsiCo were worth $5,824,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC boosted its stake in PepsiCo by 12.4% during the fourth quarter. Brighton Jones LLC now owns 59,392 shares of the company’s stock valued at $9,031,000 after buying an additional 6,574 shares during the last quarter. Caxton Associates LLP bought a new position in shares of PepsiCo during the 1st quarter valued at approximately $251,000. Sivia Capital Partners LLC grew its holdings in shares of PepsiCo by 138.5% in the second quarter. Sivia Capital Partners LLC now owns 6,527 shares of the company’s stock valued at $862,000 after purchasing an additional 3,790 shares in the last quarter. IFM Investors Pty Ltd raised its stake in PepsiCo by 4.9% during the second quarter. IFM Investors Pty Ltd now owns 264,714 shares of the company’s stock valued at $34,953,000 after purchasing an additional 12,435 shares in the last quarter. Finally, Kingstone Capital Partners Texas LLC bought a new position in PepsiCo during the second quarter valued at $460,110,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Down 0.2%

PepsiCo stock opened at $146.32 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26. The firm has a market cap of $200.07 billion, a P/E ratio of 27.82, a P/E/G ratio of 4.79 and a beta of 0.42. The business has a fifty day moving average of $145.62 and a two-hundred day moving average of $144.67. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $160.15.

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Shareholders of record on Friday, December 5th were paid a $1.4225 dividend. This represents a $5.69 annualized dividend and a yield of 3.9%. The ex-dividend date was Friday, December 5th. PepsiCo’s payout ratio is 108.17%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PEP. Citigroup boosted their target price on shares of PepsiCo from $165.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, December 17th. Rothschild & Co Redburn upped their price objective on PepsiCo from $117.00 to $120.00 and gave the company a “sell” rating in a research report on Monday, December 15th. JPMorgan Chase & Co. raised PepsiCo from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $151.00 to $164.00 in a research note on Wednesday, December 10th. BNP Paribas Exane upgraded PepsiCo from a “neutral” rating to an “outperform” rating and set a $179.00 price target on the stock in a report on Friday. Finally, Wall Street Zen downgraded PepsiCo from a “buy” rating to a “hold” rating in a research report on Saturday, December 27th. Ten analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $161.32.

About PepsiCo

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.