Acorn Creek Capital LLC Reduces Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Acorn Creek Capital LLC lowered its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 13.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,613 shares of the company’s stock after selling 244 shares during the period. Acorn Creek Capital LLC’s holdings in PepsiCo were worth $245,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the business. International Assets Investment Management LLC raised its position in shares of PepsiCo by 17,113.0% during the 3rd quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock worth $547,626,000 after purchasing an additional 3,201,676 shares during the period. State Street Corp raised its holdings in shares of PepsiCo by 5.1% in the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after purchasing an additional 2,775,679 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of PepsiCo by 21.1% during the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock valued at $2,293,049,000 after acquiring an additional 2,264,445 shares during the last quarter. Swedbank AB boosted its holdings in shares of PepsiCo by 211.4% in the third quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock worth $398,847,000 after buying an additional 1,592,343 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of PepsiCo by 5.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock valued at $3,632,413,000 after acquiring an additional 1,125,059 shares during the period. 73.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on PEP shares. JPMorgan Chase & Co. lowered their price objective on shares of PepsiCo from $183.00 to $165.00 and set a “neutral” rating on the stock in a research report on Friday. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Barclays lowered their target price on PepsiCo from $183.00 to $158.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a report on Wednesday, January 22nd. Finally, TD Cowen dropped their price objective on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $177.00.

PepsiCo Price Performance

Shares of PepsiCo stock opened at $154.61 on Tuesday. PepsiCo, Inc. has a 1-year low of $141.51 and a 1-year high of $183.41. The firm has a fifty day simple moving average of $153.88 and a 200-day simple moving average of $165.35. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The stock has a market capitalization of $212.12 billion, a price-to-earnings ratio of 22.80, a PEG ratio of 2.86 and a beta of 0.54.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were issued a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date was Friday, December 6th. PepsiCo’s dividend payout ratio (DPR) is 79.94%.

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.