PepsiCo, Inc. (NASDAQ:PEP) is Sky Investment Group LLC’s 8th Largest Position

Sky Investment Group LLC lifted its stake in PepsiCo, Inc. (NASDAQ:PEP) by 2.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,791 shares of the company’s stock after buying an additional 1,924 shares during the period. PepsiCo makes up 2.1% of Sky Investment Group LLC’s investment portfolio, making the stock its 8th largest holding. Sky Investment Group LLC’s holdings in PepsiCo were worth $11,525,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of PEP. Sei Investments Co. increased its holdings in shares of PepsiCo by 2.8% in the 2nd quarter. Sei Investments Co. now owns 389,241 shares of the company’s stock valued at $64,186,000 after acquiring an additional 10,547 shares during the period. Thrivent Financial for Lutherans increased its stake in PepsiCo by 8.5% in the second quarter. Thrivent Financial for Lutherans now owns 121,512 shares of the company’s stock valued at $20,040,000 after purchasing an additional 9,567 shares during the period. Epoch Investment Partners Inc. boosted its stake in shares of PepsiCo by 7.4% during the second quarter. Epoch Investment Partners Inc. now owns 344,176 shares of the company’s stock worth $56,765,000 after buying an additional 23,703 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of PepsiCo by 7.3% during the second quarter. EverSource Wealth Advisors LLC now owns 8,979 shares of the company’s stock worth $1,551,000 after buying an additional 608 shares during the last quarter. Finally, Certified Advisory Corp increased its position in PepsiCo by 4.0% in the 2nd quarter. Certified Advisory Corp now owns 2,117 shares of the company’s stock valued at $349,000 after acquiring an additional 82 shares during the period. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PEP has been the topic of several analyst reports. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. 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 objective on the stock. TD Cowen lowered their target price on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Wells Fargo & Company cut their price target on shares of PepsiCo from $170.00 to $155.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Finally, Hsbc Global Res raised PepsiCo to a “hold” rating in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, PepsiCo has an average rating of “Hold” and a consensus price target of $178.60.

PepsiCo Stock Performance

NASDAQ:PEP opened at $148.25 on Tuesday. PepsiCo, Inc. has a twelve month low of $141.51 and a twelve month high of $183.41. The company has a market capitalization of $203.40 billion, a P/E ratio of 21.87, a price-to-earnings-growth ratio of 2.74 and a beta of 0.54. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The firm has a 50-day moving average price of $155.37 and a two-hundred day moving average price of $165.86.

PepsiCo Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date was Friday, December 6th. PepsiCo’s payout ratio is currently 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.