PepsiCo, Inc. (NASDAQ:PEP) Shares Acquired by Fortune Financial Advisors LLC

Fortune Financial Advisors LLC boosted its stake in PepsiCo, Inc. (NASDAQ:PEP) by 6.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 4,529 shares of the company’s stock after acquiring an additional 273 shares during the period. Fortune Financial Advisors LLC’s holdings in PepsiCo were worth $689,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. State Street Corp grew its stake in shares of PepsiCo by 5.1% in the third quarter. State Street Corp now owns 57,268,030 shares of the company’s stock valued at $9,738,429,000 after buying an additional 2,775,679 shares in the last quarter. Geode Capital Management LLC boosted its holdings in PepsiCo by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock valued at $5,170,529,000 after acquiring an additional 543,558 shares during the period. Charles Schwab Investment Management Inc. increased its stake in PepsiCo by 5.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock worth $3,632,413,000 after purchasing an additional 1,125,059 shares during the period. Franklin Resources Inc. lifted its position in shares of PepsiCo by 21.1% during the third quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock worth $2,293,049,000 after purchasing an additional 2,264,445 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of PepsiCo by 2.7% in the third quarter. Wellington Management Group LLP now owns 12,098,551 shares of the company’s stock valued at $2,057,359,000 after purchasing an additional 313,468 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on PEP. Piper Sandler started coverage on shares of PepsiCo in a report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 target price on the stock. JPMorgan Chase & Co. lowered their target price on PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a research note on Friday, January 24th. Hsbc Global Res raised PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Barclays lowered their price objective on PepsiCo from $183.00 to $158.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Finally, UBS Group reduced their target price on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. 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 stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $176.73.

PepsiCo Price Performance

PEP stock opened at $151.90 on Friday. The business has a 50 day simple moving average of $153.51 and a 200-day simple moving average of $165.07. The company has a market capitalization of $208.41 billion, a P/E ratio of 22.40, a PEG ratio of 2.91 and a beta of 0.54. PepsiCo, Inc. has a twelve month low of $141.51 and a twelve month high of $183.41. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96.

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 $1.355 dividend. The ex-dividend date was Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.57%. 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.