Ritholtz Wealth Management Has $2 Million Stake in PepsiCo, Inc. (NASDAQ:PEP)

Ritholtz Wealth Management decreased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 20.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,130 shares of the company’s stock after selling 3,308 shares during the quarter. Ritholtz Wealth Management’s holdings in PepsiCo were worth $1,997,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of PEP. Global Wealth Strategies & Associates grew its position in 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 purchasing 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 stake in PepsiCo in the 3rd quarter valued at $31,000. Mattson Financial Services LLC acquired a new stake in PepsiCo in the 2nd quarter valued at $34,000. Finally, Rakuten Securities Inc. boosted its holdings in PepsiCo by 93.2% during the 3rd 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. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Trading Up 1.2 %

Shares of PepsiCo stock opened at $148.25 on Friday. PepsiCo, Inc. has a 52-week low of $141.51 and a 52-week high of $183.41. The stock’s 50-day simple moving average is $155.37 and its 200 day simple moving average is $165.83. The stock has a market capitalization of $203.40 billion, a P/E ratio of 21.87, a P/E/G ratio of 2.57 and a beta of 0.54. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, January 6th. Stockholders 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 3.66%. The ex-dividend date was Friday, December 6th. PepsiCo’s payout ratio is 79.94%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on PEP shares. Barclays cut their price objective on shares of PepsiCo from $183.00 to $158.00 and set an “overweight” rating on the stock in a report on Friday. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. TD Cowen cut their price objective on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Royal Bank of Canada cut their price objective on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. Finally, Piper Sandler assumed coverage on PepsiCo in a research note on Tuesday, January 7th. They set an “overweight” rating and a $171.00 target price on the stock. One 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.com, PepsiCo has a consensus rating of “Hold” and a consensus price target of $178.60.

PepsiCo 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.