Global Trust Asset Management LLC Trims Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Global Trust Asset Management LLC decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 13.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 6,307 shares of the company’s stock after selling 1,000 shares during the quarter. Global Trust Asset Management LLC’s holdings in PepsiCo were worth $959,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Global Wealth Strategies & Associates increased its stake 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 buying an additional 59 shares during the period. Highline Wealth Partners LLC purchased a new position in PepsiCo during the third quarter worth about $28,000. Legacy Investment Solutions LLC acquired a new stake in PepsiCo in the third quarter valued at about $31,000. Mattson Financial Services LLC acquired a new position in PepsiCo during the 2nd quarter worth approximately $34,000. Finally, Rakuten Securities Inc. lifted its holdings in shares of PepsiCo by 93.2% in 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 owned by hedge funds and other institutional investors.

PepsiCo Price Performance

PEP opened at $148.09 on Thursday. 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 company has a 50-day moving average of $154.74 and a 200-day moving average of $165.64. The company has a market capitalization of $203.18 billion, a P/E ratio of 21.84, a PEG ratio of 2.75 and a beta of 0.54.

PepsiCo Announces Dividend

The company also recently disclosed 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. This represents a $5.42 annualized dividend and a yield of 3.66%. The ex-dividend date of this dividend was Friday, December 6th. PepsiCo’s dividend payout ratio (DPR) is presently 79.94%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Piper Sandler assumed coverage on PepsiCo in a research report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price objective for the company. UBS Group reduced their price objective on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. JPMorgan Chase & Co. dropped their target price on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Bank of America decreased their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Finally, TD Cowen dropped their price objective on PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. 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’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $178.20.

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.