Wealthspan Partners LLC Sells 7,766 Shares of PepsiCo, Inc. $PEP

Wealthspan Partners LLC lowered its position in PepsiCo, Inc. (NASDAQ:PEP) by 83.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,572 shares of the company’s stock after selling 7,766 shares during the period. Wealthspan Partners LLC’s holdings in PepsiCo were worth $221,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Evolution Wealth Management Inc. bought a new stake in PepsiCo during the second quarter worth about $27,000. JCIC Asset Management Inc. purchased a new stake in shares of PepsiCo in the 3rd quarter worth approximately $27,000. Vermillion & White Wealth Management Group LLC raised its stake in PepsiCo by 107.1% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 234 shares of the company’s stock valued at $31,000 after buying an additional 121 shares during the last quarter. Halbert Hargrove Global Advisors LLC boosted its holdings in PepsiCo by 667.7% in the third quarter. Halbert Hargrove Global Advisors LLC now owns 238 shares of the company’s stock worth $33,000 after acquiring an additional 207 shares in the last quarter. Finally, Frazier Financial Advisors LLC grew its stake in shares of PepsiCo by 85.3% in the second quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock worth $35,000 after acquiring an additional 122 shares during the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PEP has been the topic of several recent analyst reports. BNP Paribas Exane raised shares of PepsiCo from a “hold” rating to an “outperform” rating and set a $179.00 price objective on the stock in a research report on Friday, January 16th. HSBC raised their price target on shares of PepsiCo from $145.00 to $152.00 and gave the company a “hold” rating in a research report on Friday, October 10th. Barclays set a $148.00 price objective on PepsiCo in a research report on Friday, January 16th. Exane BNP Paribas upgraded PepsiCo from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 16th. Finally, Wall Street Zen cut PepsiCo from a “buy” rating to a “hold” rating in a research report on Saturday, December 27th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $159.29.

PepsiCo Stock Performance

PEP stock traded up $0.79 during trading on Tuesday, reaching $146.66. The stock had a trading volume of 267,995 shares, compared to its average volume of 7,875,002. The firm has a market cap of $200.53 billion, a PE ratio of 27.89, a PEG ratio of 4.74 and a beta of 0.42. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26. The stock’s 50 day moving average is $145.71 and its two-hundred day moving average is $145.18. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $160.15.

PepsiCo Dividend Announcement

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

PepsiCo Company Profile

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.