Valeo Financial Advisors LLC Cuts Stock Position in PepsiCo, Inc. $PEP

Valeo Financial Advisors LLC decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 12.8% in the third quarter, HoldingsChannel reports. The fund owned 59,188 shares of the company’s stock after selling 8,674 shares during the quarter. Valeo Financial Advisors LLC’s holdings in PepsiCo were worth $8,312,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Evolution Wealth Management Inc. purchased a new position in PepsiCo during the 2nd quarter worth $27,000. JCIC Asset Management Inc. acquired a new stake in PepsiCo in the third quarter worth about $27,000. Vermillion & White Wealth Management Group LLC grew its stake in shares of PepsiCo by 107.1% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 234 shares of the company’s stock worth $31,000 after acquiring an additional 121 shares during the last quarter. Halbert Hargrove Global Advisors LLC increased its holdings in shares of PepsiCo by 667.7% during the third quarter. Halbert Hargrove Global Advisors LLC now owns 238 shares of the company’s stock valued at $33,000 after acquiring an additional 207 shares in the last quarter. Finally, Frazier Financial Advisors LLC raised its position in shares of PepsiCo by 85.3% in the 2nd quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock valued at $35,000 after purchasing an additional 122 shares during the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on PEP. Weiss Ratings reissued a “hold (c)” rating on shares of PepsiCo in a research report on Friday, January 9th. Wall Street Zen lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Saturday, December 27th. DZ Bank upgraded PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 target price for the company in a research note on Tuesday, October 21st. Barclays set a $148.00 price target on PepsiCo in a research report on Friday, January 16th. Finally, HSBC increased their price objective on PepsiCo from $145.00 to $152.00 and gave the company a “hold” rating in a report on Friday, October 10th. One investment 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 company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $159.29.

PepsiCo Price Performance

Shares of PEP opened at $148.78 on Wednesday. The company has a market capitalization of $203.43 billion, a P/E ratio of 28.29, a P/E/G ratio of 4.78 and a beta of 0.42. The business’s 50-day moving average is $145.71 and its two-hundred day moving average is $145.28. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.72 and a current ratio of 0.91. PepsiCo, Inc. has a fifty-two week low of $127.60 and a fifty-two week high of $160.15.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 6th. Shareholders of record on Friday, December 5th were given a $1.4225 dividend. This represents a $5.69 annualized dividend and a yield of 3.8%. The ex-dividend date was Friday, December 5th. PepsiCo’s dividend payout ratio is currently 108.17%.

PepsiCo 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.