Gradient Investments LLC Increases Position in PepsiCo, Inc. (NASDAQ:PEP)

Gradient Investments LLC lifted its stake in PepsiCo, Inc. (NASDAQ:PEP) by 2,263.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 90,280 shares of the company’s stock after purchasing an additional 86,460 shares during the quarter. Gradient Investments LLC’s holdings in PepsiCo were worth $13,728,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Global Wealth Strategies & Associates increased its holdings in shares of PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after acquiring an additional 59 shares in the last quarter. Highline Wealth Partners LLC bought a new stake in PepsiCo during the 3rd quarter valued at about $28,000. Legacy Investment Solutions LLC purchased a new position in PepsiCo in the third quarter worth about $31,000. Rakuten Securities Inc. lifted its stake in shares of PepsiCo by 93.2% in the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after buying an additional 96 shares in the last quarter. Finally, Mattson Financial Services LLC bought a new stake in shares of PepsiCo during the second quarter valued at approximately $34,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Up 0.3 %

Shares of NASDAQ:PEP opened at $149.12 on Friday. PepsiCo, Inc. has a 12-month low of $141.51 and a 12-month high of $183.41. The company 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 stock has a 50 day moving average of $154.07 and a 200 day moving average of $165.40. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96.

PepsiCo Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Piper Sandler began coverage on PepsiCo in a research note on Tuesday, January 7th. They set an “overweight” rating and a $171.00 target price on the stock. 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 research report on Wednesday. Royal Bank of Canada lowered their target price on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. JPMorgan Chase & Co. reduced their price target on shares of PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a research note on Friday. Finally, Bank of America dropped their target price on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $177.00.

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.