Tennessee Valley Asset Management Partners Reduces Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Tennessee Valley Asset Management Partners reduced its position in PepsiCo, Inc. (NASDAQ:PEP) by 15.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,824 shares of the company’s stock after selling 339 shares during the period. Tennessee Valley Asset Management Partners’ holdings in PepsiCo were worth $277,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp boosted its stake in shares of PepsiCo by 5.1% during the third quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after buying an additional 2,775,679 shares during the period. Geode Capital Management LLC lifted its position in PepsiCo by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock worth $5,170,529,000 after acquiring an additional 543,558 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of 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 purchasing an additional 1,125,059 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of PepsiCo by 21.1% in the third quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock valued at $2,293,049,000 after purchasing an additional 2,264,445 shares during the period. Finally, Wellington Management Group LLP raised its stake in shares of PepsiCo by 2.7% during the third quarter. Wellington Management Group LLP now owns 12,098,551 shares of the company’s stock worth $2,057,359,000 after purchasing an additional 313,468 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

PepsiCo stock opened at $149.12 on Monday. The firm has a market capitalization of $204.59 billion, a PE ratio of 21.99, a price-to-earnings-growth ratio of 2.86 and a beta of 0.54. PepsiCo, Inc. has a one year low of $141.51 and a one year high of $183.41. The stock’s 50 day moving average price is $153.88 and its 200 day moving average price is $165.34. 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were issued a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date of this dividend was Friday, December 6th. PepsiCo’s dividend payout ratio is presently 79.94%.

Analyst Ratings Changes

Several equities analysts have issued reports on PEP shares. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. TD Cowen cut their price target on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Wells Fargo & Company lowered their price objective on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. UBS Group reduced their price target on PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Finally, Royal Bank of Canada dropped their price objective on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, PepsiCo currently has an average rating of “Hold” and a consensus price target of $177.00.

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.