Sheets Smith Wealth Management Purchases 703 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Sheets Smith Wealth Management increased its position in PepsiCo, Inc. (NASDAQ:PEP) by 1.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 57,773 shares of the company’s stock after buying an additional 703 shares during the period. PepsiCo comprises approximately 1.1% of Sheets Smith Wealth Management’s investment portfolio, making the stock its 21st biggest holding. Sheets Smith Wealth Management’s holdings in PepsiCo were worth $8,785,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of PEP. Global Wealth Strategies & Associates raised 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 acquiring an additional 59 shares during the period. Highline Wealth Partners LLC purchased a new position in PepsiCo during the third quarter worth about $28,000. Legacy Investment Solutions LLC purchased a new stake in shares of PepsiCo during the third quarter worth $31,000. Mattson Financial Services LLC acquired a new position in shares of PepsiCo during the second quarter worth about $34,000. Finally, Rakuten Securities Inc. raised its stake in PepsiCo by 93.2% in the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after buying an additional 96 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Barclays lowered their price target on PepsiCo from $183.00 to $158.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Bank of America lowered their target price on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Wells Fargo & Company lowered their target price on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Finally, StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $178.60.

PepsiCo Trading Up 0.2 %

PepsiCo stock opened at $148.55 on Wednesday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. PepsiCo, Inc. has a 1 year low of $141.51 and a 1 year high of $183.41. The firm’s 50-day moving average is $155.05 and its 200-day moving average is $165.76. The company has a market cap of $203.81 billion, a P/E ratio of 21.91, a PEG ratio of 2.74 and a beta of 0.54.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were given a dividend of $1.355 per share. The ex-dividend date was Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.65%. PepsiCo’s dividend payout ratio (DPR) is presently 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.