Stablepoint Partners LLC Grows Position in PepsiCo, Inc. (NASDAQ:PEP)

Stablepoint Partners LLC grew its position in PepsiCo, Inc. (NASDAQ:PEP) by 1.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,182 shares of the company’s stock after acquiring an additional 459 shares during the quarter. PepsiCo comprises approximately 1.0% of Stablepoint Partners LLC’s portfolio, making the stock its 28th biggest position. Stablepoint Partners LLC’s holdings in PepsiCo were worth $5,502,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. State Street Corp grew its stake in shares of PepsiCo by 5.1% in the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock valued at $9,738,429,000 after purchasing an additional 2,775,679 shares during the last quarter. Geode Capital Management LLC grew its position in PepsiCo by 1.8% in 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 buying an additional 543,558 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in PepsiCo by 5.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock valued at $3,632,413,000 after buying an additional 1,125,059 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of PepsiCo by 21.1% in the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock worth $2,293,049,000 after acquiring an additional 2,264,445 shares during the period. Finally, Wellington Management Group LLP boosted its holdings 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 acquiring an additional 313,468 shares in the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PEP shares. Royal Bank of Canada cut their price target on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. JPMorgan Chase & Co. reduced their price target on PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a report on Friday. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Barclays cut 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, Piper Sandler initiated coverage on shares of PepsiCo in a research note on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price target on the stock. One investment 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 data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $177.00.

PepsiCo Stock Performance

NASDAQ PEP opened at $149.12 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a fifty-two week low of $141.51 and a fifty-two week high of $183.41. The business has a fifty day moving average of $153.88 and a 200-day moving average of $165.31. The stock has a market cap of $204.59 billion, a price-to-earnings ratio of 21.99, a price-to-earnings-growth ratio of 2.86 and a beta of 0.54.

PepsiCo Announces Dividend

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

About PepsiCo

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.