Asset Advisors Investment Management LLC Has $1.40 Million Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Asset Advisors Investment Management LLC reduced its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 9,205 shares of the company’s stock after selling 250 shares during the period. Asset Advisors Investment Management LLC’s holdings in PepsiCo were worth $1,400,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Empowered Funds LLC increased 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 valued at $16,968,000 after buying an additional 8,406 shares during the period. Assenagon Asset Management S.A. boosted its stake in PepsiCo by 104.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,705,574 shares of the company’s stock worth $259,350,000 after acquiring an additional 870,451 shares in the last quarter. Janus Henderson Group PLC increased its position in PepsiCo by 11.0% in the 3rd quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock valued at $59,549,000 after buying an additional 34,633 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV lifted its holdings in shares of PepsiCo by 12.8% in the 4th quarter. Hudson Valley Investment Advisors Inc. ADV now owns 41,580 shares of the company’s stock worth $6,323,000 after purchasing an additional 4,712 shares in the last quarter. Finally, IHT Wealth Management LLC grew its holdings in shares of 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 buying an additional 5,220 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

PEP has been the subject of several analyst reports. Piper Sandler assumed coverage on shares of PepsiCo in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price objective for the company. CICC Research reiterated a “market perform” rating on shares of PepsiCo in a research report on Friday, February 7th. TD Cowen lowered their price target on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. UBS Group reduced their target price on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Finally, Citigroup dropped their price objective on PepsiCo from $195.00 to $170.00 and set a “buy” rating for the company in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, PepsiCo presently has a consensus rating of “Hold” and a consensus target price of $171.47.

PepsiCo Stock Performance

PEP opened at $153.50 on Monday. The firm’s fifty day simple moving average is $148.66 and its two-hundred day simple moving average is $162.11. PepsiCo, Inc. has a 52-week low of $141.51 and a 52-week high of $183.41. The company has a market cap of $210.53 billion, a price-to-earnings ratio of 22.09, a PEG ratio of 3.09 and a beta of 0.54. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.94 by $0.02. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The firm had revenue of $27.78 billion during the quarter, compared to analysts’ expectations of $27.89 billion. During the same quarter last year, the company posted $1.78 EPS. The firm’s quarterly revenue was down .2% on a year-over-year basis. Equities analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be issued a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date is Friday, March 7th. PepsiCo’s dividend payout ratio is currently 77.99%.

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.