Cerro Pacific Wealth Advisors LLC Sells 90 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Cerro Pacific Wealth Advisors LLC decreased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 14,214 shares of the company’s stock after selling 90 shares during the period. Cerro Pacific Wealth Advisors LLC’s holdings in PepsiCo were worth $2,161,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in PEP. 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 purchasing an additional 59 shares during the period. Highline Wealth Partners LLC bought a new position in PepsiCo in the 3rd quarter worth approximately $28,000. Legacy Investment Solutions LLC acquired a new position in shares of PepsiCo during the third quarter worth approximately $31,000. Rakuten Securities Inc. grew its stake in shares of PepsiCo by 93.2% in the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after acquiring an additional 96 shares during the last quarter. Finally, Mattson Financial Services LLC bought a new position in PepsiCo during the second quarter worth $34,000. 73.07% of the stock is owned by institutional investors.

PepsiCo Stock Up 0.4 %

Shares of NASDAQ PEP opened at $148.62 on Friday. 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 cap of $203.91 billion, a price-to-earnings ratio of 21.92, a price-to-earnings-growth ratio of 2.86 and a beta of 0.54. PepsiCo, Inc. has a 12-month low of $141.51 and a 12-month high of $183.41. The firm’s 50-day simple moving average is $154.40 and its 200 day simple moving average is $165.52.

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, January 6th. Investors 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 3.65%. The ex-dividend date was Friday, December 6th. PepsiCo’s dividend payout ratio is currently 79.94%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Wells Fargo & Company dropped their price objective on shares of PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. TD Cowen decreased their price objective on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Barclays cut their target price on PepsiCo from $183.00 to $158.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Finally, UBS Group decreased their price target on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. 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 company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $178.20.

PepsiCo Company Profile

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.