Granite Group Advisors LLC Acquires 5,850 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Granite Group Advisors LLC boosted its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 99.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 11,703 shares of the company’s stock after purchasing an additional 5,850 shares during the period. PepsiCo makes up 1.1% of Granite Group Advisors LLC’s holdings, making the stock its 23rd largest holding. Granite Group Advisors LLC’s holdings in PepsiCo were worth $1,780,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Empowered Funds LLC grew its stake in PepsiCo by 9.2% during the third quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock valued at $16,968,000 after acquiring an additional 8,406 shares in the last quarter. Assenagon Asset Management S.A. grew 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 valued at $259,350,000 after acquiring an additional 870,451 shares in the last quarter. Janus Henderson Group PLC grew its stake in PepsiCo by 11.0% during the third 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 in the last quarter. Hudson Valley Investment Advisors Inc. ADV grew its stake in PepsiCo by 12.8% during 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 acquiring an additional 4,712 shares in the last quarter. Finally, IHT Wealth Management LLC grew its stake in 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 acquiring an additional 5,220 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Up 0.3 %

NASDAQ:PEP opened at $149.12 on Monday. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41. The firm has a market capitalization of $204.59 billion, a P/E ratio of 21.99, a P/E/G ratio of 2.86 and a beta of 0.54. The company has a fifty day moving average of $153.88 and a 200 day moving average of $165.34.

PepsiCo Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were issued a $1.355 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $5.42 annualized dividend and a yield of 3.63%. PepsiCo’s dividend payout ratio (DPR) is presently 79.94%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PEP shares. TD Cowen cut their price target 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 cut their price target on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research note on Friday, October 4th. Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. cut their price target on shares of PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a research note on Friday. Finally, Bank of America cut their price objective on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $177.00.

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.