Sheets Smith Wealth Management increased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 126,779 shares of the company’s stock after purchasing an additional 4,641 shares during the quarter. PepsiCo makes up 2.8% of Sheets Smith Wealth Management’s portfolio, making the stock its 2nd biggest holding. Sheets Smith Wealth Management’s holdings in PepsiCo were worth $18,801,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the stock. Catalyst Private Wealth LLC purchased a new position in PepsiCo during the 3rd quarter valued at approximately $34,000. Baron Financial Group LLC purchased a new position in PepsiCo during the 3rd quarter valued at approximately $35,000. Chiron Capital Management LLC purchased a new position in PepsiCo during the 3rd quarter valued at approximately $43,000. Adams Wealth Management purchased a new position in PepsiCo during the 3rd quarter valued at approximately $44,000. Finally, Ellevest Inc. grew its holdings in PepsiCo by 25.1% during the 3rd quarter. Ellevest Inc. now owns 459 shares of the company’s stock valued at $64,000 after buying an additional 92 shares in the last quarter. Hedge funds and other institutional investors own 70.16% of the company’s stock.
PepsiCo stock traded up $1.16 during mid-day trading on Wednesday, hitting $142.59. The company’s stock had a trading volume of 4,361,002 shares, compared to its average volume of 4,831,900. The firm has a market capitalization of $197.05 billion, a PE ratio of 28.24, a price-to-earnings-growth ratio of 3.90 and a beta of 0.57. PepsiCo, Inc. has a 1 year low of $101.42 and a 1 year high of $148.77. The company has a current ratio of 0.93, a quick ratio of 0.77 and a debt-to-equity ratio of 2.79. The stock’s fifty day moving average is $145.19 and its two-hundred day moving average is $139.18.
The company also recently declared a quarterly dividend, which was paid on Thursday, January 7th. Shareholders of record on Friday, December 4th were paid a dividend of $1.0225 per share. This represents a $4.09 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend was Thursday, December 3rd. PepsiCo’s dividend payout ratio (DPR) is 73.96%.
In other PepsiCo news, CEO Kirk Tanner sold 12,500 shares of the company’s stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $136.81, for a total transaction of $1,710,125.00. Following the transaction, the chief executive officer now directly owns 95,645 shares in the company, valued at $13,085,192.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is owned by corporate insiders.
Several equities research analysts have recently issued reports on the company. Wells Fargo & Company began coverage on PepsiCo in a research note on Monday, December 7th. They issued an “equal weight” rating and a $157.00 price objective for the company. UBS Group lifted their target price on PepsiCo from $140.00 to $146.00 in a research report on Friday, October 2nd. Zacks Investment Research lowered PepsiCo from a “hold” rating to a “sell” rating and set a $140.00 target price for the company. in a research report on Friday, September 18th. Citigroup raised PepsiCo from a “neutral” rating to a “buy” rating and lifted their target price for the company from $148.00 to $169.00 in a research report on Monday, October 12th. Finally, BidaskClub lowered PepsiCo from a “hold” rating to a “sell” rating in a research report on Thursday, January 7th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $144.88.
PepsiCo Company Profile
PepsiCo, Inc operates as a food and beverage company worldwide. The company operates through seven segments: FLNA, QFNA, PBNA, LatAm, Europe, AMESA, and APAC. It offers branded dips, cheese-flavored snacks, and tortillas, as well as corn, potato, and tortilla chips; cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes; beverage concentrates, fountain syrups, and finished goods; ready-to-drink tea, coffee, and juices; and dairy products.
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