PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC lessened its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 5.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 320,036 shares of the company’s stock after selling 16,885 shares during the quarter. Gateway Investment Advisers LLC’s holdings in PepsiCo were worth $48,665,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Global Wealth Strategies & Associates raised its stake in shares of 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 acquiring an additional 59 shares during the period. Highline Wealth Partners LLC acquired a new stake in PepsiCo in the 3rd quarter valued at $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 stake in shares of PepsiCo in the second quarter worth about $34,000. Finally, Rakuten Securities Inc. raised its holdings in shares of PepsiCo by 93.2% during the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after buying an additional 96 shares during the period. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on PEP. Piper Sandler initiated coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price objective for the company. Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a report on Thursday, October 10th. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Bank of America dropped their target price on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Finally, Barclays lowered their price objective on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $180.27.

PepsiCo Trading Up 1.2 %

PepsiCo stock opened at $146.58 on Friday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. PepsiCo, Inc. has a 1 year low of $141.51 and a 1 year high of $183.41. The firm’s 50-day moving average is $156.06 and its 200-day moving average is $166.05. The company has a market cap of $201.11 billion, a P/E ratio of 21.62, a PEG ratio of 2.57 and a beta of 0.54.

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were issued a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.70%. The ex-dividend date was Friday, December 6th. PepsiCo’s dividend payout ratio (DPR) is presently 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.