NewEdge Wealth LLC Boosts Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

NewEdge Wealth LLC boosted its holdings in shares of PepsiCo, Inc. (NASDAQ:PEPFree Report) by 20.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 36,534 shares of the company’s stock after purchasing an additional 6,212 shares during the quarter. NewEdge Wealth LLC’s holdings in PepsiCo were worth $6,190,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Spotlight Asset Group Inc. purchased a new stake in PepsiCo during the 2nd quarter worth approximately $27,000. DHJJ Financial Advisors Ltd. bought a new stake in shares of PepsiCo in the 3rd quarter valued at approximately $25,000. Pacifica Partners Inc. bought a new stake in shares of PepsiCo in the 3rd quarter valued at approximately $27,000. West Tower Group LLC bought a new stake in shares of PepsiCo in the 2nd quarter valued at approximately $36,000. Finally, VitalStone Financial LLC bought a new stake in shares of PepsiCo in the 2nd quarter valued at approximately $46,000. 71.40% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Stock Down 0.4 %

Shares of PEP stock opened at $170.97 on Monday. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.71 and a current ratio of 0.88. The stock has a market cap of $235.06 billion, a PE ratio of 28.50, a price-to-earnings-growth ratio of 2.57 and a beta of 0.54. The business’s fifty day moving average is $168.24 and its 200-day moving average is $171.73. PepsiCo, Inc. has a 1 year low of $155.83 and a 1 year high of $196.88.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 5th. Shareholders of record on Friday, December 1st were issued a $1.265 dividend. This represents a $5.06 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend was Thursday, November 30th. PepsiCo’s payout ratio is 84.33%.

Insider Activity

In other PepsiCo news, CFO Hugh F. Johnston sold 48,388 shares of the company’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $166.65, for a total value of $8,063,860.20. Following the transaction, the chief financial officer now owns 96,627 shares of the company’s stock, valued at $16,102,889.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PEP. Wedbush lowered their price target on PepsiCo from $206.00 to $195.00 and set an “outperform” rating for the company in a report on Monday, October 9th. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research note on Friday, October 13th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $180.00 target price on shares of PepsiCo in a research report on Wednesday, October 11th. Citigroup lowered their price target on shares of PepsiCo from $200.00 to $180.00 and set a “neutral” rating for the company in a research report on Wednesday, October 11th. Finally, JPMorgan Chase & Co. downgraded shares of PepsiCo from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $185.00 to $176.00 in a research report on Tuesday, December 19th. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, PepsiCo has a consensus rating of “Hold” and an average price target of $186.79.

Check Out Our Latest Stock Analysis on PEP

PepsiCo Company Profile

(Free Report)

PepsiCo, Inc manufactures, markets, distributes, and sells 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.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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