Pines Wealth Management LLC Acquires New Position in PepsiCo, Inc. (NASDAQ:PEP)

Pines Wealth Management LLC bought a new position in PepsiCo, Inc. (NASDAQ:PEP) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 3,482 shares of the company’s stock, valued at approximately $497,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Empowered Funds LLC boosted its stake in PepsiCo by 9.2% during the third 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 last quarter. Janus Henderson Group PLC boosted its position in shares of PepsiCo by 11.0% during the 3rd quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock valued at $59,549,000 after acquiring an additional 34,633 shares during the last quarter. Hudson Valley Investment Advisors Inc. ADV grew its holdings in shares of PepsiCo by 12.8% in the fourth quarter. Hudson Valley Investment Advisors Inc. ADV now owns 41,580 shares of the company’s stock valued at $6,323,000 after purchasing an additional 4,712 shares during the period. IHT Wealth Management LLC increased 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 worth $5,493,000 after purchasing an additional 5,220 shares during the last quarter. Finally, Meridian Wealth Management LLC acquired a new position in PepsiCo in the 3rd quarter valued at about $9,589,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Trading Up 0.3 %

NASDAQ PEP opened at $144.95 on Wednesday. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41. The firm has a 50 day moving average of $156.46 and a two-hundred day moving average of $166.20. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The stock has a market capitalization of $198.87 billion, a PE ratio of 21.38, a price-to-earnings-growth ratio of 2.94 and a beta of 0.54.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were paid a dividend of $1.355 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.74%. PepsiCo’s payout ratio is currently 79.94%.

Analysts Set New Price Targets

Several research firms have recently commented on PEP. Royal Bank of Canada reduced their price target on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. Morgan Stanley cut PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective for the company. in a research note on Friday, September 20th. Piper Sandler started coverage on PepsiCo in a research note on Tuesday, January 7th. They set an “overweight” rating and a $171.00 target price on the stock. Barclays dropped their target price on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Finally, StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, PepsiCo has a consensus rating of “Hold” and a consensus price target of $180.64.

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.