Midwest Financial Group LLC lowered its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 51.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,677 shares of the company's stock after selling 2,825 shares during the quarter. Midwest Financial Group LLC's holdings in PepsiCo were worth $407,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Global Wealth Strategies & Associates grew 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 worth $27,000 after purchasing an additional 59 shares during the last quarter. Highline Wealth Partners LLC acquired a new stake in PepsiCo during the 3rd quarter worth about $28,000. Legacy Investment Solutions LLC acquired a new position in shares of PepsiCo in the third quarter worth about $31,000. Rakuten Securities Inc. raised its holdings in shares of PepsiCo by 93.2% during the third quarter. Rakuten Securities Inc. now owns 199 shares of the company's stock valued at $34,000 after acquiring an additional 96 shares during the period. Finally, Mattson Financial Services LLC acquired a new position in PepsiCo in the 2nd quarter worth approximately $34,000. Institutional investors own 73.07% of the company's stock.
A number of research firms have recently issued reports on PEP. TD Cowen reduced their target price on PepsiCo from $183.00 to $160.00 and set a "hold" rating for the company in a report on Wednesday, January 8th. Redburn Atlantic upgraded PepsiCo to a "strong sell" rating in a research report on Thursday, October 10th. Piper Sandler started coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They issued an "overweight" rating and a $171.00 price target for the company. UBS Group dropped their price objective 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. Finally, Wells Fargo & Company decreased their target price on shares of PepsiCo from $170.00 to $155.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 7th. 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. Based on data from MarketBeat, PepsiCo has an average rating of "Hold" and a consensus price target of $178.20.
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Shares of PEP opened at $148.24 on Friday. The company has a market capitalization of $203.38 billion, a PE ratio of 21.85, a price-to-earnings-growth ratio of 2.86 and a beta of 0.54. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. PepsiCo, Inc. has a one year low of $141.51 and a one year high of $183.41. The company's fifty day moving average price is $154.40 and its 200 day moving average price is $165.52.
The firm also recently announced 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. The ex-dividend date of this dividend was Friday, December 6th. This represents a $5.42 annualized dividend and a yield of 3.66%. PepsiCo's payout ratio is 79.94%.
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.
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