Miracle Mile Advisors LLC Buys 29,416 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Miracle Mile Advisors LLC lifted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 212.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 43,245 shares of the company’s stock after purchasing an additional 29,416 shares during the quarter. Miracle Mile Advisors LLC’s holdings in PepsiCo were worth $6,576,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PEP. Empowered Funds LLC increased its stake in PepsiCo by 9.2% in the 3rd quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock worth $16,968,000 after acquiring an additional 8,406 shares during the last quarter. Janus Henderson Group PLC increased its stake in PepsiCo by 11.0% in the 3rd quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock worth $59,549,000 after acquiring an additional 34,633 shares during the last quarter. Hudson Valley Investment Advisors Inc. ADV increased its stake in PepsiCo by 12.8% in the 4th quarter. Hudson Valley Investment Advisors Inc. ADV now owns 41,580 shares of the company’s stock worth $6,323,000 after acquiring an additional 4,712 shares during the last quarter. IHT Wealth Management LLC increased its stake in PepsiCo by 19.3% in the 3rd quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock worth $5,493,000 after acquiring an additional 5,220 shares during the last quarter. Finally, Meridian Wealth Management LLC bought a new position in PepsiCo in the 3rd quarter worth about $9,589,000. 73.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PEP has been the topic of several recent research reports. TD Cowen reduced their price objective on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective on the stock. in a research report on Friday, September 20th. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Finally, Bank of America reduced their price objective on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, PepsiCo presently has a consensus rating of “Hold” and an average price target of $180.64.

PepsiCo Price Performance

Shares of PEP stock opened at $144.50 on Tuesday. The firm has a market cap of $198.25 billion, a P/E ratio of 21.31, a P/E/G ratio of 2.94 and a beta of 0.54. PepsiCo, Inc. has a fifty-two week low of $141.51 and a fifty-two week high of $183.41. The business’s 50 day moving average price is $156.92 and its 200-day moving average price is $166.35. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were given a $1.355 dividend. The ex-dividend date was Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.75%. 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.