Eagle Rock Investment Company LLC Decreases Stake in PepsiCo, Inc. (NASDAQ:PEP)

Eagle Rock Investment Company LLC decreased its position in PepsiCo, Inc. (NASDAQ:PEP) by 0.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,062 shares of the company’s stock after selling 228 shares during the quarter. Eagle Rock Investment Company LLC’s holdings in PepsiCo were worth $4,115,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Empowered Funds LLC grew its position in PepsiCo by 9.2% in the third quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock worth $16,968,000 after acquiring an additional 8,406 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of PepsiCo by 104.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,705,574 shares of the company’s stock worth $259,350,000 after purchasing an additional 870,451 shares during the period. Janus Henderson Group PLC increased its position in shares of PepsiCo by 11.0% during the 3rd quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock valued at $59,549,000 after purchasing an additional 34,633 shares during the last quarter. Hudson Valley Investment Advisors Inc. ADV lifted its position in PepsiCo by 12.8% in the fourth quarter. Hudson Valley Investment Advisors Inc. ADV now owns 41,580 shares of the company’s stock worth $6,323,000 after buying an additional 4,712 shares during the last quarter. Finally, IHT Wealth Management LLC boosted its stake in PepsiCo by 19.3% during the third quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock worth $5,493,000 after buying an additional 5,220 shares during the period. 73.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PEP has been the subject of several analyst reports. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a report on Thursday, October 10th. Bank of America dropped their target price on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Wells Fargo & Company reduced 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. Royal Bank of Canada dropped their price objective on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. Finally, UBS Group reduced their target price on PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $180.27.

PepsiCo Trading Up 1.2 %

NASDAQ:PEP opened at $146.58 on Friday. 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 firm has a 50-day simple moving average of $156.06 and a 200-day simple moving average of $166.05. PepsiCo, Inc. has a one year low of $141.51 and a one year high of $183.41. The firm has a market cap of $201.11 billion, a P/E ratio of 21.62, a P/E/G ratio of 2.57 and a beta of 0.54.

PepsiCo Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend was Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.70%. PepsiCo’s dividend payout ratio is currently 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.