Riverbridge Partners LLC Trims Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Riverbridge Partners LLC trimmed its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 8.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 15,927 shares of the company’s stock after selling 1,513 shares during the period. Riverbridge Partners LLC’s holdings in PepsiCo were worth $2,422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Global Wealth Strategies & Associates grew its position in PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after buying an additional 59 shares during the last quarter. Highline Wealth Partners LLC purchased a new stake in shares of PepsiCo in the third quarter valued at about $28,000. Legacy Investment Solutions LLC acquired a new position in shares of PepsiCo during the third quarter worth about $31,000. Mattson Financial Services LLC purchased a new position in PepsiCo during the second quarter worth about $34,000. Finally, Rakuten Securities Inc. lifted its position in PepsiCo by 93.2% in the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after purchasing an additional 96 shares during the period. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Down 0.3 %

PEP opened at $148.09 on Thursday. The firm has a market cap of $203.18 billion, a P/E ratio of 21.84, a PEG ratio of 2.75 and a beta of 0.54. 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 business’s fifty day simple moving average is $154.74 and its 200 day simple moving average is $165.64. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were paid a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.66%. The ex-dividend date of this dividend was Friday, December 6th. PepsiCo’s payout ratio is 79.94%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Hsbc Global Res raised PepsiCo to a “hold” rating in a report on Thursday, October 10th. Royal Bank of Canada reduced their target price on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a research note on Wednesday. Bank of America reduced their price objective on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Finally, Wells Fargo & Company lowered their target price on shares of 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 investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $178.20.

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.