Asset Dedication LLC Reduces Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Asset Dedication LLC lowered its position in PepsiCo, Inc. (NASDAQ:PEP) by 45.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 11,815 shares of the company’s stock after selling 9,938 shares during the period. Asset Dedication LLC’s holdings in PepsiCo were worth $1,797,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Global Wealth Strategies & Associates increased its position in shares of PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after buying an additional 59 shares in the last quarter. 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 buying an additional 60 shares in the last quarter. Paulson Wealth Management Inc. increased its position in PepsiCo by 2.1% during the 3rd quarter. Paulson Wealth Management Inc. now owns 2,986 shares of the company’s stock worth $508,000 after purchasing an additional 60 shares in the last quarter. LCM Capital Management Inc increased its position in PepsiCo by 0.8% during the 3rd 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 in the last quarter. Finally, Demars Financial Group LLC increased its position in PepsiCo by 1.1% during the 3rd quarter. Demars Financial Group LLC now owns 5,721 shares of the company’s stock worth $973,000 after purchasing an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

PEP has been the subject of a number of recent research reports. TD Cowen dropped their price objective on PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Barclays dropped their price objective on PepsiCo from $183.00 to $158.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Royal Bank of Canada decreased their price target on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $177.00.

PepsiCo Price Performance

PEP stock opened at $150.25 on Wednesday. PepsiCo, Inc. has a 52-week low of $141.51 and a 52-week high of $183.41. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The company has a market capitalization 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 stock’s 50 day moving average is $153.81 and its two-hundred day moving average is $165.28.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were issued a $1.355 dividend. The ex-dividend date was Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.61%. PepsiCo’s dividend payout ratio (DPR) 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.