GAMMA Investing LLC Trims Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

GAMMA Investing LLC reduced its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 4.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,891 shares of the company’s stock after selling 1,233 shares during the quarter. GAMMA Investing LLC’s holdings in PepsiCo were worth $3,633,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

Several equities analysts recently issued reports on PEP shares. Deutsche Bank Aktiengesellschaft upgraded PepsiCo from a “hold” rating to a “buy” rating and boosted their price target for the company from $179.00 to $184.00 in a research report on Thursday, December 12th. Royal Bank of Canada cut their price target on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research note on Friday, October 4th. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a research report on Thursday, October 10th. TD Cowen downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and cut their price objective for the stock from $190.00 to $183.00 in a research report on Thursday, October 10th. Finally, Barclays dropped their price target on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $184.31.

PepsiCo Stock Down 1.2 %

PEP opened at $150.21 on Friday. PepsiCo, Inc. has a one year low of $149.71 and a one year high of $183.41. The company has a market cap of $206.09 billion, a price-to-earnings ratio of 22.15, a PEG ratio of 2.94 and a beta of 0.52. The business’s fifty day moving average is $159.95 and its two-hundred day moving average is $167.37. 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 (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. The firm had revenue of $23.32 billion for the quarter, compared to analysts’ expectations of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The firm’s revenue was down .6% on a year-over-year basis. During the same period in the prior year, the company earned $2.25 EPS. Analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 6th will be given a $1.355 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.61%. PepsiCo’s dividend payout ratio is currently 79.94%.

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.