Matrix Asset Advisors Inc. NY Purchases 32,980 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Matrix Asset Advisors Inc. NY grew its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 104.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 64,477 shares of the company’s stock after buying an additional 32,980 shares during the period. Matrix Asset Advisors Inc. NY’s holdings in PepsiCo were worth $9,804,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Global Wealth Strategies & Associates boosted its position in PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after purchasing an additional 59 shares during the period. Highline Wealth Partners LLC purchased a new stake in shares of PepsiCo during the 3rd quarter valued at approximately $28,000. Legacy Investment Solutions LLC bought a new position in PepsiCo in the 3rd quarter worth approximately $31,000. Mattson Financial Services LLC purchased a new position in PepsiCo in the 2nd quarter valued at approximately $34,000. Finally, Rakuten Securities Inc. lifted its position in shares of PepsiCo by 93.2% during the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after acquiring an additional 96 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

PEP stock opened at $154.61 on Tuesday. 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 market cap of $212.12 billion, a P/E ratio of 22.80, a P/E/G ratio of 2.86 and a beta of 0.54. The firm’s fifty day moving average is $153.88 and its 200 day moving average is $165.35. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41.

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were paid a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend was Friday, December 6th. PepsiCo’s dividend payout ratio (DPR) is presently 79.94%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PEP. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. TD Cowen decreased their price target on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. 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 price objective for the company. Wells Fargo & Company decreased their target price on shares of PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $177.00.

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.