Grant GrossMendelsohn LLC Increases Stake in PepsiCo, Inc. (NASDAQ:PEP)

Grant GrossMendelsohn LLC raised its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 5.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,778 shares of the company’s stock after buying an additional 93 shares during the period. Grant GrossMendelsohn LLC’s holdings in PepsiCo were worth $273,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PEP. Empowered Funds LLC raised its position in PepsiCo by 9.2% in the 3rd 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 in the last quarter. Assenagon Asset Management S.A. lifted its stake in PepsiCo by 104.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,705,574 shares of the company’s stock worth $259,350,000 after acquiring an additional 870,451 shares during the last quarter. Janus Henderson Group PLC grew 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 acquiring an additional 34,633 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV increased its position in shares of PepsiCo by 12.8% in the 4th quarter. Hudson Valley Investment Advisors Inc. ADV now owns 41,580 shares of the company’s stock valued at $6,323,000 after purchasing an additional 4,712 shares during the last quarter. Finally, IHT Wealth Management LLC lifted 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 last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

PEP has been the subject of several analyst reports. Piper Sandler initiated coverage on PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price objective for the company. Royal Bank of Canada cut their price objective on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. UBS Group dropped their target price on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. reduced their price target on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Finally, TD Cowen reduced their target price on PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, PepsiCo has an average rating of “Hold” and an average target price of $178.60.

PepsiCo Stock Up 1.2 %

PEP opened at $148.25 on Friday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. PepsiCo, Inc. has a 12 month low of $141.51 and a 12 month high of $183.41. The stock has a market capitalization of $203.40 billion, a P/E ratio of 21.87, a P/E/G ratio of 2.57 and a beta of 0.54. The business has a 50 day simple moving average of $155.37 and a 200-day simple moving average of $165.82.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were paid a $1.355 dividend. This represents a $5.42 annualized dividend and a dividend yield of 3.66%. The ex-dividend date of this dividend was Friday, December 6th. PepsiCo’s dividend payout ratio (DPR) is 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.