Meyer Handelman Co. Sells 2,752 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Meyer Handelman Co. lowered its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 1.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 241,351 shares of the company’s stock after selling 2,752 shares during the quarter. PepsiCo makes up 1.3% of Meyer Handelman Co.’s portfolio, making the stock its 22nd biggest position. Meyer Handelman Co.’s holdings in PepsiCo were worth $36,700,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of PEP. Edgestream Partners L.P. raised its stake in shares of PepsiCo by 190.5% during the 2nd quarter. Edgestream Partners L.P. now owns 13,377 shares of the company’s stock worth $2,206,000 after acquiring an additional 8,772 shares in the last quarter. Financial & Tax Architects LLC increased its position in PepsiCo by 5.4% during the 2nd quarter. Financial & Tax Architects LLC now owns 33,809 shares of the company’s stock valued at $5,576,000 after buying an additional 1,722 shares in the last quarter. E Fund Management Co. Ltd. raised its stake in PepsiCo by 6.5% in the second quarter. E Fund Management Co. Ltd. now owns 20,332 shares of the company’s stock valued at $3,353,000 after buying an additional 1,243 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its stake in shares of PepsiCo by 2.2% during the second quarter. Mercer Global Advisors Inc. ADV now owns 231,170 shares of the company’s stock worth $38,127,000 after acquiring an additional 4,912 shares during the last quarter. Finally, Argent Trust Co increased its holdings in shares of PepsiCo by 1.2% during the second quarter. Argent Trust Co now owns 103,476 shares of the company’s stock valued at $17,066,000 after acquiring an additional 1,265 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Wells Fargo & Company dropped their target price on shares of PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. JPMorgan Chase & Co. cut their target price on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Barclays dropped their price target on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Finally, Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $180.64.

PepsiCo Trading Down 0.1 %

Shares of PEP stock opened at $144.78 on Thursday. PepsiCo, Inc. has a 1-year low of $141.51 and a 1-year high of $183.41. The company has a market cap of $198.64 billion, a price-to-earnings ratio of 21.35, a PEG ratio of 2.94 and a beta of 0.54. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. The stock has a 50 day simple moving average of $156.46 and a 200-day simple moving average of $166.20.

PepsiCo Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were issued a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a yield of 3.74%. The ex-dividend date of this dividend was Friday, December 6th. PepsiCo’s 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.