Magnus Financial Group LLC Sells 814 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Magnus Financial Group LLC lessened its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 5.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 14,429 shares of the company’s stock after selling 814 shares during the quarter. Magnus Financial Group LLC’s holdings in PepsiCo were worth $2,194,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Thrivent Financial for Lutherans boosted its holdings in shares of PepsiCo by 8.5% during the 2nd quarter. Thrivent Financial for Lutherans now owns 121,512 shares of the company’s stock valued at $20,040,000 after purchasing an additional 9,567 shares during the last quarter. Wescott Financial Advisory Group LLC boosted its stake in PepsiCo by 41.3% during the second quarter. Wescott Financial Advisory Group LLC now owns 2,475 shares of the company’s stock valued at $408,000 after buying an additional 724 shares during the last quarter. Fred Alger Management LLC increased its stake in PepsiCo by 5.6% in the 2nd quarter. Fred Alger Management LLC now owns 49,842 shares of the company’s stock worth $8,220,000 after acquiring an additional 2,651 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of PepsiCo during the 2nd quarter worth approximately $223,000. Finally, Alley Investment Management Company LLC grew its holdings in shares of PepsiCo by 0.8% in the second quarter. Alley Investment Management Company LLC now owns 68,863 shares of the company’s stock valued at $11,358,000 after purchasing an additional 548 shares in the last quarter. 73.07% of the stock is owned by institutional investors.

PepsiCo Stock Performance

PepsiCo stock 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. The company has a market capitalization of $203.18 billion, a PE ratio of 21.84, a P/E/G ratio of 2.75 and a beta of 0.54. The company has a 50 day moving average price of $154.74 and a 200-day moving average price of $165.64. PepsiCo, Inc. has a fifty-two week low of $141.51 and a fifty-two week high of $183.41.

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were issued a $1.355 dividend. This represents a $5.42 annualized dividend and a dividend yield of 3.66%. The ex-dividend date was Friday, December 6th. PepsiCo’s dividend payout ratio is 79.94%.

Analyst Ratings Changes

PEP has been the subject of several research reports. Barclays lowered their price objective 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. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Royal Bank of Canada decreased their price objective on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. JPMorgan Chase & Co. dropped their target price on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Finally, Wells Fargo & Company decreased their price target on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $178.20.

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.