Simplicity Wealth LLC Sells 21,528 Shares of PepsiCo, Inc. $PEP

Simplicity Wealth LLC lowered its position in PepsiCo, Inc. (NASDAQ:PEP) by 52.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 19,871 shares of the company’s stock after selling 21,528 shares during the period. Simplicity Wealth LLC’s holdings in PepsiCo were worth $2,791,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. JCIC Asset Management Inc. purchased a new stake in shares of PepsiCo during the third quarter valued at $27,000. Evolution Wealth Management Inc. purchased a new stake in PepsiCo in the 2nd quarter valued at about $27,000. Legend Financial Advisors Inc. bought a new position in PepsiCo in the 2nd quarter worth about $29,000. Vermillion & White Wealth Management Group LLC increased its position in shares of PepsiCo by 107.1% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 234 shares of the company’s stock worth $31,000 after acquiring an additional 121 shares during the period. Finally, Halbert Hargrove Global Advisors LLC raised its stake in shares of PepsiCo by 667.7% during the third quarter. Halbert Hargrove Global Advisors LLC now owns 238 shares of the company’s stock valued at $33,000 after acquiring an additional 207 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PEP has been the topic of a number of recent research reports. HSBC increased their price target on PepsiCo from $145.00 to $152.00 and gave the stock a “hold” rating in a research report on Friday, October 10th. The Goldman Sachs Group increased their target price on shares of PepsiCo from $165.00 to $167.00 and gave the stock a “buy” rating in a report on Friday, October 10th. DZ Bank upgraded shares of PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 price target for the company in a report on Tuesday, October 21st. Bank of America increased their price objective on shares of PepsiCo from $150.00 to $155.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. Finally, UBS Group reduced their price objective on shares of PepsiCo from $172.00 to $170.00 and set a “buy” rating for the company in a research note on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, PepsiCo currently has a consensus rating of “Hold” and an average price target of $159.29.

PepsiCo Trading Down 1.6%

Shares of PepsiCo stock opened at $144.40 on Friday. The firm’s 50 day simple moving average is $145.78 and its two-hundred day simple moving average is $144.90. The firm has a market capitalization of $197.44 billion, a price-to-earnings ratio of 27.45, a PEG ratio of 4.81 and a beta of 0.42. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $160.15. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 6th. Stockholders of record on Friday, December 5th were paid a $1.4225 dividend. This represents a $5.69 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Friday, December 5th. PepsiCo’s dividend payout ratio (DPR) is presently 108.17%.

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.