Bartlett & CO. Wealth Management LLC Lowers Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Bartlett & CO. Wealth Management LLC lowered its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 631,643 shares of the company’s stock after selling 7,135 shares during the period. PepsiCo comprises about 1.4% of Bartlett & CO. Wealth Management LLC’s investment portfolio, making the stock its 17th biggest position. Bartlett & CO. Wealth Management LLC’s holdings in PepsiCo were worth $96,908,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. International Assets Investment Management LLC increased its holdings in PepsiCo by 17,113.0% in the third quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock valued at $547,626,000 after buying an additional 3,201,676 shares in the last quarter. State Street Corp grew its position in shares of PepsiCo by 5.1% during the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock valued at $9,738,429,000 after acquiring an additional 2,775,679 shares during the period. Franklin Resources Inc. increased its stake in shares of PepsiCo by 21.1% in the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock valued at $2,293,049,000 after purchasing an additional 2,264,445 shares in the last quarter. Swedbank AB raised its holdings in PepsiCo by 211.4% in the 3rd quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock worth $398,847,000 after purchasing an additional 1,592,343 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in PepsiCo by 5.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock valued at $3,632,413,000 after purchasing an additional 1,125,059 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Price Performance

PEP stock opened at $148.09 on Thursday. PepsiCo, Inc. has a 52-week low of $141.51 and a 52-week high of $183.41. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The stock has a market cap of $203.18 billion, a price-to-earnings ratio of 21.84, a price-to-earnings-growth ratio of 2.75 and a beta of 0.54. The business has a fifty day moving average of $154.74 and a two-hundred day moving average of $165.64.

PepsiCo Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were given a dividend of $1.355 per share. 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 dividend payout ratio is presently 79.94%.

Wall Street Analysts Forecast Growth

PEP has been the subject of several research analyst reports. TD Cowen reduced their target price on PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. 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 report 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 on the stock in a research report on Wednesday, October 9th. Barclays reduced their price target on shares of PepsiCo from $183.00 to $158.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Finally, StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, PepsiCo currently has a consensus rating of “Hold” and an average target price of $178.20.

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.