PepsiCo, Inc. (NASDAQ:PEP) Shares Bought by Grimes & Company Inc.

Grimes & Company Inc. grew its stake in PepsiCo, Inc. (NASDAQ:PEP) by 1.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 72,673 shares of the company’s stock after purchasing an additional 1,019 shares during the period. Grimes & Company Inc.’s holdings in PepsiCo were worth $11,051,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of PEP. Empowered Funds LLC increased its stake in PepsiCo by 9.2% in the third quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock valued at $16,968,000 after purchasing an additional 8,406 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in PepsiCo by 104.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,705,574 shares of the company’s stock worth $259,350,000 after buying an additional 870,451 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in PepsiCo by 11.0% during the 3rd quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock worth $59,549,000 after buying an additional 34,633 shares during the last quarter. Hudson Valley Investment Advisors Inc. ADV raised its position in shares of PepsiCo by 12.8% during the 4th quarter. Hudson Valley Investment Advisors Inc. ADV now owns 41,580 shares of the company’s stock worth $6,323,000 after purchasing an additional 4,712 shares during the period. Finally, IHT Wealth Management LLC raised its position in shares of PepsiCo by 19.3% during the 3rd quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock worth $5,493,000 after purchasing an additional 5,220 shares during the period. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Stock Up 0.3 %

NASDAQ PEP opened at $149.12 on Friday. The company has a market capitalization of $204.59 billion, a price-to-earnings ratio of 21.99, a PEG ratio of 2.86 and a beta of 0.54. 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, Inc. has a 1-year low of $141.51 and a 1-year high of $183.41. The stock’s 50 day moving average is $153.88 and its two-hundred day moving average is $165.31.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were issued a $1.355 dividend. This represents a $5.42 annualized dividend and a dividend yield of 3.63%. The ex-dividend date was Friday, December 6th. PepsiCo’s payout ratio is currently 79.94%.

Wall Street Analyst Weigh In

Several analysts recently commented on PEP shares. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Wells Fargo & Company decreased their target price on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Bank of America cut their price objective on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. Piper Sandler initiated coverage on PepsiCo in a report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 target price on the stock. Finally, TD Cowen dropped their price objective on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $177.00.

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.