PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Merrion Investment Management Co LLC

Merrion Investment Management Co LLC lowered its stake in PepsiCo, Inc. (NASDAQ:PEP) by 43.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,045 shares of the company’s stock after selling 1,550 shares during the period. Merrion Investment Management Co LLC’s holdings in PepsiCo were worth $316,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Franklin Parlapiano Turner & Welch LLC raised its holdings in shares of PepsiCo by 2.7% during the fourth quarter. Franklin Parlapiano Turner & Welch LLC now owns 45,527 shares of the company’s stock worth $6,923,000 after purchasing an additional 1,201 shares during the last quarter. Hanson & Doremus Investment Management raised its holdings in shares of PepsiCo by 25.8% during the fourth quarter. Hanson & Doremus Investment Management now owns 5,669 shares of the company’s stock worth $862,000 after purchasing an additional 1,162 shares during the last quarter. Plimoth Trust Co. LLC raised its holdings in shares of PepsiCo by 3.6% during the fourth quarter. Plimoth Trust Co. LLC now owns 17,272 shares of the company’s stock worth $2,626,000 after purchasing an additional 604 shares during the last quarter. Ibex Wealth Advisors purchased a new position in shares of PepsiCo during the fourth quarter worth $217,000. Finally, Allen Capital Group LLC raised its holdings in shares of PepsiCo by 499.7% during the fourth quarter. Allen Capital Group LLC now owns 14,160 shares of the company’s stock worth $2,153,000 after purchasing an additional 11,799 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

PEP opened at $150.37 on Thursday. The firm has a market capitalization of $206.31 billion, a PE ratio of 22.18, a PEG ratio of 2.86 and a beta of 0.54. PepsiCo, Inc. has a twelve month low of $141.51 and a twelve month high of $183.41. The firm’s 50-day moving average price is $153.68 and its 200 day moving average price is $165.17. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were given a dividend of $1.355 per share. The ex-dividend date was Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.60%. PepsiCo’s payout ratio is presently 79.94%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. TD Cowen reduced their target price on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $172.00 price objective on shares of PepsiCo in a report on Wednesday. Piper Sandler assumed coverage on shares of PepsiCo in a report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price objective for the company. Wells Fargo & Company cut their price objective on shares of PepsiCo from $170.00 to $155.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Finally, Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $176.73.

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.