PFG Investments LLC Acquires 704 Shares of PepsiCo, Inc. (NASDAQ:PEP)

PFG Investments LLC lifted its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.3% during the 4th quarter, Holdings Channel reports. The firm owned 56,487 shares of the company’s stock after purchasing an additional 704 shares during the quarter. PepsiCo comprises 0.5% of PFG Investments LLC’s holdings, making the stock its 28th largest position. PFG Investments LLC’s holdings in PepsiCo were worth $8,589,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Empowered Funds LLC raised its stake in PepsiCo by 9.2% during the 3rd quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock worth $16,968,000 after buying an additional 8,406 shares during the period. Assenagon Asset Management S.A. raised its stake in PepsiCo by 104.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,705,574 shares of the company’s stock worth $259,350,000 after buying an additional 870,451 shares during the period. Janus Henderson Group PLC raised its stake in PepsiCo by 11.0% during the 3rd 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 4th 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 period. Finally, IHT Wealth Management LLC raised its stake in PepsiCo by 19.3% during the 3rd quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock worth $5,493,000 after buying an additional 5,220 shares during the period. Institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

Shares of NASDAQ PEP opened at $149.12 on Monday. The stock has a fifty day simple moving average of $153.88 and a two-hundred day simple moving average of $165.34. PepsiCo, Inc. has a 1-year low of $141.51 and a 1-year high of $183.41. The firm has a market cap of $204.59 billion, a price-to-earnings ratio of 21.99, a price-to-earnings-growth ratio of 2.86 and a beta of 0.54. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96.

PepsiCo Dividend Announcement

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

Wall Street Analysts Forecast Growth

PEP has been the subject of several analyst reports. Barclays lowered their price objective on PepsiCo from $183.00 to $158.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Deutsche Bank Aktiengesellschaft lowered their price objective on PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. Bank of America lowered their price objective on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Piper Sandler initiated coverage on PepsiCo in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price objective for the company. Finally, Hsbc Global Res raised PepsiCo to a “hold” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $177.00.

About PepsiCo

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.