Mutual Advisors LLC Increases Stake in PepsiCo, Inc. (NASDAQ:PEP)

Mutual Advisors LLC grew its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 26.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 34,476 shares of the company’s stock after buying an additional 7,210 shares during the period. Mutual Advisors LLC’s holdings in PepsiCo were worth $5,052,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the company. Thrivent Financial for Lutherans lifted its holdings in shares of PepsiCo by 8.5% in the second quarter. Thrivent Financial for Lutherans now owns 121,512 shares of the company’s stock worth $20,040,000 after buying an additional 9,567 shares in the last quarter. Wescott Financial Advisory Group LLC lifted its stake in PepsiCo by 41.3% in the 2nd quarter. Wescott Financial Advisory Group LLC now owns 2,475 shares of the company’s stock worth $408,000 after purchasing an additional 724 shares in the last quarter. Fred Alger Management LLC boosted its holdings in shares of PepsiCo by 5.6% during the 2nd quarter. Fred Alger Management LLC now owns 49,842 shares of the company’s stock valued at $8,220,000 after purchasing an additional 2,651 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of PepsiCo in the second quarter worth about $223,000. Finally, Alley Investment Management Company LLC lifted its position in shares of PepsiCo by 0.8% in the second quarter. Alley Investment Management Company LLC now owns 68,863 shares of the company’s stock worth $11,358,000 after buying an additional 548 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PEP. Wells Fargo & Company reduced their price objective on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. TD Cowen reduced their price target on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a research note on Wednesday. Piper Sandler initiated coverage on shares of PepsiCo in a report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price target for the company. Finally, JPMorgan Chase & Co. reduced their price objective on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, PepsiCo presently has a consensus rating of “Hold” and a consensus target price of $178.20.

PepsiCo Trading Down 0.3 %

PEP stock opened at $148.09 on Thursday. PepsiCo, Inc. has a 12 month low of $141.51 and a 12 month high of $183.41. The firm’s 50-day moving average is $154.74 and its 200 day moving average is $165.64. The company has a market capitalization of $203.18 billion, a PE ratio of 21.84, a P/E/G ratio of 2.75 and a beta of 0.54. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70.

PepsiCo Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were paid a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.66%. The ex-dividend date of this dividend was Friday, December 6th. PepsiCo’s dividend payout ratio is presently 79.94%.

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.