PepsiCo, Inc. (NASDAQ:PEP) Shares Acquired by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI boosted its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 27.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 64,727 shares of the company’s stock after purchasing an additional 13,885 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in PepsiCo were worth $9,843,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Scientech Research LLC acquired a new position in PepsiCo during the second quarter worth about $325,000. Ascent Group LLC increased its stake in shares of PepsiCo by 6.4% during the 2nd quarter. Ascent Group LLC now owns 31,284 shares of the company’s stock worth $5,160,000 after purchasing an additional 1,883 shares in the last quarter. Magnolia Capital Advisors LLC acquired a new position in shares of PepsiCo during the 2nd quarter worth approximately $1,421,000. NewEdge Advisors LLC lifted its stake in PepsiCo by 10.0% in the 2nd quarter. NewEdge Advisors LLC now owns 212,291 shares of the company’s stock valued at $35,013,000 after buying an additional 19,249 shares in the last quarter. Finally, Covington Investment Advisors Inc. increased its position in PepsiCo by 1.7% during the second quarter. Covington Investment Advisors Inc. now owns 25,357 shares of the company’s stock worth $4,182,000 after buying an additional 429 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

PEP has been the topic of a number of analyst reports. JPMorgan Chase & Co. decreased their price objective on PepsiCo from $183.00 to $165.00 and set a “neutral” rating on the stock in a research note on Friday. TD Cowen decreased their price target on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Royal Bank of Canada cut their price objective on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. Bank of America decreased their target price on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a research note on Wednesday, January 22nd. One equities research 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. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $177.00.

PepsiCo Stock Performance

NASDAQ PEP opened at $149.12 on Monday. The business’s 50-day simple moving average is $153.88 and its 200-day simple moving average is $165.35. 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. PepsiCo, Inc. has a 1-year low of $141.51 and a 1-year high of $183.41. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Shareholders 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 annualized dividend and a yield of 3.63%. PepsiCo’s dividend payout ratio is currently 79.94%.

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.