Perigon Wealth Management LLC Decreases Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Perigon Wealth Management LLC trimmed its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 6.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,391 shares of the company’s stock after selling 2,694 shares during the quarter. Perigon Wealth Management LLC’s holdings in PepsiCo were worth $5,333,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Global Wealth Strategies & Associates increased 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 buying an additional 59 shares during the period. Cross Staff Investments Inc increased its position in shares of PepsiCo by 0.9% in the third quarter. Cross Staff Investments Inc now owns 7,080 shares of the company’s stock valued at $1,204,000 after acquiring an additional 60 shares during the period. Paulson Wealth Management Inc. raised its stake in shares of PepsiCo by 2.1% during the third quarter. Paulson Wealth Management Inc. now owns 2,986 shares of the company’s stock valued at $508,000 after acquiring an additional 60 shares during the last quarter. LCM Capital Management Inc grew its stake in shares of PepsiCo by 0.8% in the third quarter. LCM Capital Management Inc now owns 7,573 shares of the company’s stock worth $1,288,000 after purchasing an additional 62 shares during the last quarter. Finally, Demars Financial Group LLC increased its holdings in PepsiCo by 1.1% during the 3rd quarter. Demars Financial Group LLC now owns 5,721 shares of the company’s stock valued at $973,000 after purchasing an additional 62 shares during the period. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PEP has been the topic of a number of recent analyst reports. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. TD Cowen reduced their price objective on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. JPMorgan Chase & Co. dropped their target price on shares of PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a research report on Friday, January 24th. Barclays reduced their price target on shares of PepsiCo from $183.00 to $158.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Finally, Wells Fargo & Company cut their price objective on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $177.00.

PepsiCo Trading Down 2.8 %

Shares of NASDAQ PEP opened at $150.25 on Wednesday. The company has a market cap of $206.14 billion, a PE ratio of 22.16, a P/E/G ratio of 2.86 and a beta of 0.54. 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 firm’s 50 day moving average price is $153.81 and its 200-day moving average price is $165.28. PepsiCo, Inc. has a 52-week low of $141.51 and a 52-week high of $183.41.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were issued a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend was Friday, December 6th. PepsiCo’s payout ratio is 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.