PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Fulton Breakefield Broenniman LLC

Fulton Breakefield Broenniman LLC lowered its position in PepsiCo, Inc. (NASDAQ:PEP) by 2.7% in the fourth quarter, HoldingsChannel reports. The fund owned 87,538 shares of the company’s stock after selling 2,408 shares during the quarter. Fulton Breakefield Broenniman LLC’s holdings in PepsiCo were worth $13,311,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Scientech Research LLC purchased a new stake in shares of PepsiCo in the 2nd quarter valued at approximately $325,000. Invst LLC boosted its position in shares of PepsiCo by 28.1% during the 2nd quarter. Invst LLC now owns 2,870 shares of the company’s stock worth $467,000 after purchasing an additional 630 shares during the period. Quarry LP boosted its position in shares of PepsiCo by 409.7% during the 2nd quarter. Quarry LP now owns 892 shares of the company’s stock worth $147,000 after purchasing an additional 717 shares during the period. Pathway Financial Advisers LLC boosted its position in shares of PepsiCo by 2.1% during the 2nd quarter. Pathway Financial Advisers LLC now owns 34,685 shares of the company’s stock worth $5,692,000 after purchasing an additional 720 shares during the period. Finally, Granite Bay Wealth Management LLC boosted its position in shares of PepsiCo by 9.3% during the 2nd quarter. Granite Bay Wealth Management LLC now owns 25,676 shares of the company’s stock worth $4,235,000 after purchasing an additional 2,187 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a report on Thursday, October 10th. Barclays reduced their price objective on shares of PepsiCo from $183.00 to $158.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Royal Bank of Canada cut their price target on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. Finally, Wells Fargo & Company lowered their price objective 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. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $177.00.

PepsiCo Price Performance

PepsiCo stock opened at $150.25 on Wednesday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. PepsiCo, Inc. has a 1 year low of $141.51 and a 1 year high of $183.41. The firm has a 50 day moving average price of $153.81 and a 200 day moving average price of $165.28. The company has a market cap of $206.14 billion, a price-to-earnings ratio of 22.16, a PEG ratio of 2.86 and a beta of 0.54.

PepsiCo Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were paid a dividend of $1.355 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $5.42 annualized dividend and a yield of 3.61%. PepsiCo’s dividend payout ratio is currently 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.