Woodmont Investment Counsel LLC Sells 5,273 Shares of PepsiCo, Inc. $PEP

Woodmont Investment Counsel LLC cut its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 15.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,970 shares of the company’s stock after selling 5,273 shares during the period. Woodmont Investment Counsel LLC’s holdings in PepsiCo were worth $3,928,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in PEP. Vanguard Group Inc. grew its stake in PepsiCo by 1.3% in the second quarter. Vanguard Group Inc. now owns 136,936,037 shares of the company’s stock valued at $18,081,034,000 after purchasing an additional 1,761,785 shares during the last quarter. State Street Corp grew its position in shares of PepsiCo by 1.6% in the 2nd quarter. State Street Corp now owns 58,419,849 shares of the company’s stock worth $7,713,757,000 after buying an additional 920,045 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of PepsiCo by 0.3% during the 2nd quarter. Geode Capital Management LLC now owns 32,675,492 shares of the company’s stock worth $4,301,240,000 after acquiring an additional 86,695 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in PepsiCo by 9.7% during the second quarter. Charles Schwab Investment Management Inc. now owns 29,031,404 shares of the company’s stock valued at $3,833,406,000 after acquiring an additional 2,556,163 shares during the last quarter. Finally, Norges Bank purchased a new position in PepsiCo in the second quarter worth $2,330,594,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Up 3.3%

NASDAQ PEP opened at $153.63 on Monday. The company has a fifty day moving average of $145.94 and a 200 day moving average of $145.60. The company has a market capitalization of $210.06 billion, a PE ratio of 29.21, a P/E/G ratio of 5.05 and a beta of 0.40. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.91 and a quick ratio of 0.72. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $160.15.

PepsiCo Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 6th. Investors of record on Friday, December 5th were given a dividend of $1.4225 per share. This represents a $5.69 annualized dividend and a yield of 3.7%. The ex-dividend date was Friday, December 5th. PepsiCo’s dividend payout ratio (DPR) is currently 108.17%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on PEP shares. Barclays set a $148.00 price objective on PepsiCo in a research report on Friday, January 16th. Weiss Ratings reissued a “hold (c)” rating on shares of PepsiCo in a report on Friday, January 9th. UBS Group cut their price objective on shares of PepsiCo from $172.00 to $170.00 and set a “buy” rating on the stock in a report on Wednesday, January 14th. Loop Capital set a $164.00 target price on shares of PepsiCo in a research note on Thursday, October 23rd. Finally, Piper Sandler upped their price target on shares of PepsiCo from $161.00 to $172.00 and gave the company an “overweight” rating in a research note on Tuesday, December 9th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $159.29.

About PepsiCo

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.