Sound Income Strategies LLC Purchases 101 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Sound Income Strategies LLC increased its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 1.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,360 shares of the company’s stock after purchasing an additional 101 shares during the quarter. Sound Income Strategies LLC’s holdings in PepsiCo were worth $815,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in PepsiCo during the 2nd quarter valued at approximately $223,000. MBB Public Markets I LLC boosted its position in shares of PepsiCo by 2,015.4% during the second quarter. MBB Public Markets I LLC now owns 97,688 shares of the company’s stock valued at $16,112,000 after purchasing an additional 93,070 shares in the last quarter. Lummis Asset Management LP grew its stake in PepsiCo by 0.7% in the second quarter. Lummis Asset Management LP now owns 11,442 shares of the company’s stock worth $1,887,000 after purchasing an additional 76 shares during the period. Lighthouse Investment Partners LLC purchased a new position in PepsiCo during the second quarter valued at $4,123,000. Finally, Legal & General Group Plc boosted its holdings in shares of PepsiCo by 7.2% during the 2nd quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock valued at $2,234,400,000 after buying an additional 905,468 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Up 0.3 %

PepsiCo stock opened at $149.12 on Friday. The stock has a market cap of $204.59 billion, a PE ratio of 21.99, a price-to-earnings-growth ratio of 2.86 and a beta of 0.54. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The stock has a fifty day moving average of $154.07 and a 200 day moving average of $165.40. PepsiCo, Inc. has a one year low of $141.51 and a one year high of $183.41.

PepsiCo Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PEP. Piper Sandler began coverage on shares of PepsiCo in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price target for the company. Deutsche Bank Aktiengesellschaft dropped their price target on PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. reduced their price objective on PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a research report on Friday. Bank of America cut their target price on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Finally, Barclays lowered their price target on PepsiCo from $183.00 to $158.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. One 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 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.