Cornerstone Wealth Management LLC Cuts Position in PepsiCo, Inc. (NASDAQ:PEP)

Cornerstone Wealth Management LLC cut its stake in PepsiCo, Inc. (NASDAQ:PEP) by 8.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,589 shares of the company’s stock after selling 1,273 shares during the period. Cornerstone Wealth Management LLC’s holdings in PepsiCo were worth $2,066,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Global Wealth Strategies & Associates boosted its position in PepsiCo by 59.0% during the third 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 stake in PepsiCo during the third quarter valued at about $28,000. Legacy Investment Solutions LLC purchased a new stake in PepsiCo during the third quarter valued at about $31,000. Mattson Financial Services LLC purchased a new stake in PepsiCo during the second quarter valued at about $34,000. Finally, Rakuten Securities Inc. boosted its position in 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 buying an additional 96 shares during the period. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PEP has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft cut their price target on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a research report on Wednesday. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Barclays dropped their target price on shares of PepsiCo from $183.00 to $158.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Finally, UBS Group dropped their target price on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $177.00.

PepsiCo Price Performance

Shares of NASDAQ PEP opened at $149.12 on Friday. PepsiCo, Inc. has a fifty-two week low of $141.51 and a fifty-two week high of $183.41. The company has a 50 day simple moving average of $154.07 and a two-hundred day simple moving average of $165.40. The company has a market capitalization of $204.59 billion, a price-to-earnings ratio of 21.99, a P/E/G ratio of 2.86 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 firm also recently announced a quarterly dividend, which was paid on Monday, January 6th. Shareholders 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 3.63%. The ex-dividend date was Friday, December 6th. PepsiCo’s dividend payout ratio is 79.94%.

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.