Spinnaker Investment Group LLC Sells 426 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Spinnaker Investment Group LLC reduced its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 12.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,075 shares of the company’s stock after selling 426 shares during the quarter. Spinnaker Investment Group LLC’s holdings in PepsiCo were worth $468,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Fred Alger Management LLC boosted its position in PepsiCo by 5.6% during the 2nd quarter. Fred Alger Management LLC now owns 49,842 shares of the company’s stock valued at $8,220,000 after acquiring an additional 2,651 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of PepsiCo during the second quarter valued at approximately $223,000. Ameriprise Financial Inc. grew its stake in PepsiCo by 1.1% in the second quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock worth $846,030,000 after purchasing an additional 57,322 shares during the period. Elgethun Capital Management lifted its position in PepsiCo by 0.9% during the second quarter. Elgethun Capital Management now owns 6,977 shares of the company’s stock valued at $1,151,000 after buying an additional 63 shares during the period. Finally, Drucker Wealth 3.0 LLC bought a new stake in shares of PepsiCo during the 2nd quarter valued at $537,000. Institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on PEP shares. TD Cowen lowered their price target on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. UBS Group lowered their price objective on PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Barclays cut their target price on PepsiCo from $183.00 to $158.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a research report on Wednesday. One investment 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. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $178.20.

PepsiCo Price Performance

Shares of PEP opened at $148.62 on Friday. The firm has a market cap of $203.91 billion, a PE ratio of 21.92, a P/E/G ratio of 2.86 and a beta of 0.54. PepsiCo, Inc. has a 1-year low of $141.51 and a 1-year high of $183.41. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The firm has a fifty day simple moving average of $154.40 and a two-hundred day simple moving average of $165.52.

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 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date of this dividend was Friday, December 6th. PepsiCo’s dividend payout ratio is 79.94%.

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.