Pinnacle Financial Partners Inc Trims Stock Holdings in PepsiCo, Inc. $PEP

Pinnacle Financial Partners Inc lowered its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 15.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 41,468 shares of the company’s stock after selling 7,860 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in PepsiCo were worth $5,824,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in PepsiCo by 1.3% in the second quarter. Vanguard Group Inc. now owns 136,936,037 shares of the company’s stock worth $18,081,034,000 after purchasing an additional 1,761,785 shares during the period. State Street Corp boosted 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 purchasing an additional 920,045 shares in the last quarter. Geode Capital Management LLC increased its position in PepsiCo by 0.3% during the 2nd quarter. Geode Capital Management LLC now owns 32,675,492 shares of the company’s stock valued at $4,301,240,000 after buying an additional 86,695 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake 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 buying an additional 2,556,163 shares during the last quarter. Finally, Norges Bank bought a new stake in PepsiCo in the second quarter worth $2,330,594,000. 73.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PEP shares. Loop Capital set a $164.00 price target on PepsiCo in a research report on Thursday, October 23rd. JPMorgan Chase & Co. raised shares of PepsiCo from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $151.00 to $164.00 in a report on Wednesday, December 10th. The Goldman Sachs Group raised their price target on shares of PepsiCo from $165.00 to $167.00 and gave the company a “buy” rating in a research report on Friday, October 10th. Wells Fargo & Company upped their price objective on PepsiCo from $150.00 to $154.00 and gave the company a “positive” rating in a research report on Friday, October 10th. Finally, DZ Bank upgraded PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 price target for the company in a research note on Tuesday, October 21st. Ten investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $161.32.

PepsiCo Stock Performance

PEP opened at $146.32 on Friday. The company has a 50 day simple moving average of $145.62 and a two-hundred day simple moving average of $144.67. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.91 and a quick ratio of 0.72. The firm has a market cap of $200.07 billion, a P/E ratio of 27.82, a PEG ratio of 4.79 and a beta of 0.42. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $160.15.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 6th. Shareholders of record on Friday, December 5th were issued a dividend of $1.4225 per share. The ex-dividend date of this dividend was Friday, December 5th. This represents a $5.69 dividend on an annualized basis and a yield of 3.9%. PepsiCo’s dividend payout ratio (DPR) is currently 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.