Thurston Springer Miller Herd & Titak Inc. Boosts Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 32.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,689 shares of the company’s stock after acquiring an additional 4,381 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in PepsiCo were worth $2,690,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. One Capital Management LLC grew its holdings in shares of PepsiCo by 51.7% during the second quarter. One Capital Management LLC now owns 9,817 shares of the company’s stock worth $1,619,000 after buying an additional 3,344 shares in the last quarter. Luts & Greenleigh Group Inc. acquired a new stake in shares of PepsiCo in the second quarter worth approximately $379,000. Excalibur Management Corp boosted its position in shares of PepsiCo by 1.7% in the second quarter. Excalibur Management Corp now owns 16,039 shares of the company’s stock worth $2,645,000 after acquiring an additional 274 shares during the last quarter. Edgestream Partners L.P. boosted its position in shares of PepsiCo by 190.5% in the second quarter. Edgestream Partners L.P. now owns 13,377 shares of the company’s stock worth $2,206,000 after acquiring an additional 8,772 shares during the last quarter. Finally, Conscious Wealth Investments LLC boosted its position in shares of PepsiCo by 1.0% in the second quarter. Conscious Wealth Investments LLC now owns 13,868 shares of the company’s stock worth $2,306,000 after acquiring an additional 137 shares during the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Piper Sandler started coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 target price on the stock. Royal Bank of Canada dropped their price objective on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. Wells Fargo & Company dropped 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. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. dropped their price target on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, PepsiCo currently has a consensus rating of “Hold” and an average target price of $180.64.

PepsiCo Stock Performance

Shares of PEP opened at $144.95 on Wednesday. PepsiCo, Inc. has a 1 year low of $141.51 and a 1 year high of $183.41. The company has a market cap of $198.87 billion, a price-to-earnings ratio of 21.38, a price-to-earnings-growth ratio of 2.94 and a beta of 0.54. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The firm has a fifty day moving average of $156.46 and a 200-day moving average of $166.20.

PepsiCo Announces Dividend

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

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.