Lake Street Private Wealth LLC Has $404,000 Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Lake Street Private Wealth LLC reduced its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 13.2% in the 4th quarter, Holdings Channel reports. The firm owned 2,659 shares of the company’s stock after selling 405 shares during the quarter. Lake Street Private Wealth LLC’s holdings in PepsiCo were worth $404,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Empowered Funds LLC lifted its stake in shares of PepsiCo by 9.2% in the third quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock worth $16,968,000 after acquiring an additional 8,406 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of PepsiCo by 104.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,705,574 shares of the company’s stock worth $259,350,000 after purchasing an additional 870,451 shares during the period. Janus Henderson Group PLC increased its position in shares of PepsiCo by 11.0% during the third quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock worth $59,549,000 after buying an additional 34,633 shares during the period. Hudson Valley Investment Advisors Inc. ADV raised its stake in PepsiCo by 12.8% during the fourth quarter. Hudson Valley Investment Advisors Inc. ADV now owns 41,580 shares of the company’s stock worth $6,323,000 after buying an additional 4,712 shares during the last quarter. Finally, IHT Wealth Management LLC boosted its position in PepsiCo by 19.3% during the third quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock valued at $5,493,000 after acquiring an additional 5,220 shares during the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Piper Sandler assumed coverage on PepsiCo in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price target on the stock. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. TD Cowen cut their target price on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Finally, Wells Fargo & Company decreased their price target on shares of PepsiCo from $170.00 to $155.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $178.60.

PepsiCo Price Performance

Shares of NASDAQ:PEP opened at $148.25 on Friday. PepsiCo, Inc. has a 1-year low of $141.51 and a 1-year high of $183.41. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The stock has a market cap of $203.40 billion, a PE ratio of 21.87, a price-to-earnings-growth ratio of 2.57 and a beta of 0.54. The stock’s fifty day simple moving average is $155.37 and its two-hundred day simple moving average is $165.83.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were given a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date was Friday, December 6th. PepsiCo’s payout ratio is 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.