PepsiCo, Inc. (NASDAQ:PEP) Shares Acquired by Bennett Associates Wealth Management

Bennett Associates Wealth Management raised its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 6.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,835 shares of the company’s stock after buying an additional 164 shares during the period. PepsiCo makes up 0.4% of Bennett Associates Wealth Management’s portfolio, making the stock its 29th biggest position. Bennett Associates Wealth Management’s holdings in PepsiCo were worth $431,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in PEP. Edgestream Partners L.P. boosted its stake in PepsiCo by 190.5% during the 2nd quarter. Edgestream Partners L.P. now owns 13,377 shares of the company’s stock valued at $2,206,000 after purchasing an additional 8,772 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in PepsiCo by 2.2% during the second quarter. Mercer Global Advisors Inc. ADV now owns 231,170 shares of the company’s stock valued at $38,127,000 after buying an additional 4,912 shares in the last quarter. Paces Ferry Wealth Advisors LLC grew its holdings in PepsiCo by 17.9% during the second quarter. Paces Ferry Wealth Advisors LLC now owns 1,506 shares of the company’s stock worth $248,000 after acquiring an additional 229 shares during the period. Altrius Capital Management Inc lifted its holdings in PepsiCo by 2.2% in the 2nd quarter. Altrius Capital Management Inc now owns 23,664 shares of the company’s stock valued at $3,903,000 after acquiring an additional 504 shares during the last quarter. Finally, Miramar Capital LLC lifted its stake in PepsiCo by 12.6% during the second quarter. Miramar Capital LLC now owns 119,089 shares of the company’s stock valued at $19,641,000 after purchasing an additional 13,326 shares during the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PEP. Morgan Stanley downgraded PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective for the company. in a research report on Friday, September 20th. Bank of America dropped their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. TD Cowen reduced their price objective on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Royal Bank of Canada dropped their target price 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. Finally, Barclays decreased their price objective on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $180.27.

PepsiCo Stock Performance

Shares of NASDAQ PEP opened at $146.58 on Friday. PepsiCo, Inc. has a one year low of $141.51 and a one year high of $183.41. The business’s 50-day moving average price is $156.06 and its two-hundred day moving average price is $166.05. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. The company has a market capitalization of $201.11 billion, a P/E ratio of 21.62, a price-to-earnings-growth ratio of 2.57 and a beta of 0.54.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were paid a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date of this dividend was Friday, December 6th. PepsiCo’s dividend payout ratio (DPR) is presently 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.