AMI Asset Management Corp Sells 12,333 Shares of PepsiCo, Inc. (NASDAQ:PEP)

AMI Asset Management Corp lessened its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 4.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 277,424 shares of the company’s stock after selling 12,333 shares during the period. PepsiCo makes up about 2.2% of AMI Asset Management Corp’s investment portfolio, making the stock its 20th largest holding. AMI Asset Management Corp’s holdings in PepsiCo were worth $42,185,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Transform Wealth LLC bought a new position in shares of PepsiCo in the fourth quarter worth approximately $274,000. Clear Harbor Asset Management LLC raised its holdings in PepsiCo by 56.3% in the 4th quarter. Clear Harbor Asset Management LLC now owns 6,908 shares of the company’s stock worth $1,050,000 after acquiring an additional 2,487 shares during the last quarter. Charles Schwab Trust Co boosted its stake in PepsiCo by 8.6% during the 4th quarter. Charles Schwab Trust Co now owns 8,868 shares of the company’s stock valued at $1,348,000 after purchasing an additional 705 shares during the last quarter. Kiley Juergens Wealth Management LLC bought a new stake in shares of PepsiCo in the 4th quarter worth $1,560,000. Finally, Mitchell & Pahl Private Wealth LLC raised its stake in shares of PepsiCo by 11.1% in the fourth quarter. Mitchell & Pahl Private Wealth LLC now owns 11,319 shares of the company’s stock worth $1,721,000 after purchasing an additional 1,135 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

NASDAQ PEP opened at $148.55 on Wednesday. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a 12 month low of $141.51 and a 12 month high of $183.41. The stock has a market cap of $203.81 billion, a price-to-earnings ratio of 21.91, a PEG ratio of 2.74 and a beta of 0.54. The company’s 50 day moving average is $155.05 and its two-hundred day moving average is $165.76.

PepsiCo Dividend Announcement

The company 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. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date was Friday, December 6th. PepsiCo’s dividend payout ratio (DPR) is 79.94%.

Analysts Set New Price Targets

PEP has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft upgraded PepsiCo from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $179.00 to $184.00 in a report on Thursday, December 12th. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Piper Sandler began coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 target price for the company. UBS Group lowered their price target on PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Finally, Redburn Atlantic raised PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $178.60.

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.