Greenup Street Wealth Management LLC Takes $1.96 Million Position in PepsiCo, Inc. (NASDAQ:PEP)

Greenup Street Wealth Management LLC acquired a new position in shares of PepsiCo, Inc. (NASDAQ:PEP) during the fourth quarter, HoldingsChannel.com reports. The firm acquired 12,914 shares of the company’s stock, valued at approximately $1,964,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Scientech Research LLC acquired a new stake in PepsiCo during the second quarter worth $325,000. Magnolia Capital Advisors LLC purchased a new stake in PepsiCo in the 2nd quarter valued at about $1,421,000. Covington Investment Advisors Inc. lifted its position in PepsiCo by 1.7% in the second quarter. Covington Investment Advisors Inc. now owns 25,357 shares of the company’s stock valued at $4,182,000 after buying an additional 429 shares during the last quarter. Invst LLC boosted its stake in PepsiCo by 28.1% during the second quarter. Invst LLC now owns 2,870 shares of the company’s stock worth $467,000 after buying an additional 630 shares during the period. Finally, Quarry LP raised its stake in shares of PepsiCo by 409.7% in the 2nd quarter. Quarry LP now owns 892 shares of the company’s stock valued at $147,000 after acquiring an additional 717 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Performance

Shares of PEP opened at $154.61 on Tuesday. The stock has a market capitalization of $212.12 billion, a P/E ratio of 22.80, a P/E/G 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. PepsiCo, Inc. has a 1 year low of $141.51 and a 1 year high of $183.41. The company’s fifty day moving average is $153.88 and its two-hundred day moving average is $165.35.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were issued a dividend of $1.355 per share. The ex-dividend date was Friday, December 6th. This represents a $5.42 annualized dividend and a yield of 3.51%. PepsiCo’s dividend payout ratio is currently 79.94%.

Analysts Set New Price Targets

PEP has been the subject of a number of research analyst reports. TD Cowen lowered their price objective on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Bank of America reduced their price objective on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Wells Fargo & Company decreased their price target on shares of PepsiCo from $170.00 to $155.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price 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.