PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Tennessee Valley Asset Management Partners

Tennessee Valley Asset Management Partners lowered its stake in PepsiCo, Inc. (NASDAQ:PEP) by 15.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,824 shares of the company’s stock after selling 339 shares during the quarter. Tennessee Valley Asset Management Partners’ holdings in PepsiCo were worth $277,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of PEP. Global Wealth Strategies & Associates raised its position in PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after acquiring an additional 59 shares in the last quarter. Highline Wealth Partners LLC acquired a new position in shares of PepsiCo in the 3rd quarter worth approximately $28,000. Legacy Investment Solutions LLC bought a new stake in shares of PepsiCo in the 3rd quarter worth approximately $31,000. Mattson Financial Services LLC acquired a new stake in PepsiCo during the second quarter valued at approximately $34,000. Finally, Rakuten Securities Inc. grew its position in PepsiCo by 93.2% in the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after buying an additional 96 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PEP shares. UBS Group dropped their price target on PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. JPMorgan Chase & Co. cut their price target on shares of PepsiCo from $183.00 to $165.00 and set a “neutral” rating on the stock in a report on Friday. Bank of America decreased their price objective on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Wells Fargo & Company decreased their target price on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Finally, Piper Sandler initiated coverage on PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price target on the stock. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $177.00.

PepsiCo Stock Performance

PEP stock opened at $149.12 on Monday. The firm has a 50 day moving average of $153.88 and a two-hundred day moving average of $165.34. PepsiCo, Inc. has a 12 month low of $141.51 and a 12 month high of $183.41. 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 quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96.

PepsiCo Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 3.63%. The ex-dividend date of this dividend was Friday, December 6th. PepsiCo’s payout ratio is 79.94%.

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.