Dakota Wealth Management Has $12.41 Million Stake in PepsiCo, Inc. (NASDAQ:PEP)

Dakota Wealth Management trimmed its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 6.8% during the fourth quarter, HoldingsChannel reports. The fund owned 81,536 shares of the company’s stock after selling 5,979 shares during the period. Dakota Wealth Management’s holdings in PepsiCo were worth $12,405,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in PEP. State Street Corp increased its stake in PepsiCo by 5.1% in the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock valued at $9,738,429,000 after buying an additional 2,775,679 shares during the last quarter. Geode Capital Management LLC increased its stake in PepsiCo by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock valued at $5,170,529,000 after buying an additional 543,558 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in PepsiCo by 5.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock valued at $3,632,413,000 after buying an additional 1,125,059 shares during the last quarter. Legal & General Group Plc increased its stake in PepsiCo by 7.2% in the 2nd quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock valued at $2,234,400,000 after buying an additional 905,468 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in PepsiCo by 21.1% in the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock valued at $2,293,049,000 after buying an additional 2,264,445 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on PEP shares. JPMorgan Chase & Co. lowered their price target on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. TD Cowen decreased their price objective on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. UBS Group decreased their price objective on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Finally, Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. 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 company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $178.60.

PepsiCo Stock Performance

NASDAQ PEP opened at $148.55 on Wednesday. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The company has a market capitalization of $203.81 billion, a P/E ratio of 21.91, a P/E/G ratio of 2.74 and a beta of 0.54. PepsiCo, Inc. has a 12-month low of $141.51 and a 12-month high of $183.41. The firm has a 50-day moving average price of $155.05 and a two-hundred day moving average price of $165.76.

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 issued a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date of this dividend was Friday, December 6th. 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.