Kovack Advisors Inc. decreased its position in PepsiCo, Inc. (NASDAQ:PEP) by 2.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,297 shares of the company’s stock after selling 381 shares during the quarter. Kovack Advisors Inc.’s holdings in PepsiCo were worth $2,120,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Catalyst Private Wealth LLC purchased a new stake in shares of PepsiCo in the 3rd quarter worth about $34,000. Baron Financial Group LLC purchased a new position in PepsiCo during the third quarter worth about $35,000. Chiron Capital Management LLC bought a new stake in PepsiCo during the 3rd quarter valued at $43,000. Adams Wealth Management bought a new position in shares of PepsiCo in the 3rd quarter worth $44,000. Finally, Ellevest Inc. boosted its position in PepsiCo by 25.1% during the third quarter. Ellevest Inc. now owns 459 shares of the company’s stock valued at $64,000 after acquiring an additional 92 shares during the last quarter. 70.16% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CEO Kirk Tanner sold 12,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $136.81, for a total value of $1,710,125.00. Following the sale, the chief executive officer now owns 95,645 shares in the company, valued at $13,085,192.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.13% of the company’s stock.
Several analysts recently weighed in on the stock. Zacks Investment Research cut shares of PepsiCo from a “hold” rating to a “sell” rating and set a $140.00 target price on the stock. in a report on Friday, September 18th. Wells Fargo & Company assumed coverage on PepsiCo in a research report on Monday, December 7th. They issued an “equal weight” rating and a $157.00 price target for the company. Truist raised their price objective on PepsiCo from $130.00 to $135.00 in a research note on Friday, October 2nd. Citigroup raised PepsiCo from a “neutral” rating to a “buy” rating and raised their target price for the company from $148.00 to $169.00 in a report on Monday, October 12th. Finally, UBS Group lifted their price objective on PepsiCo from $140.00 to $146.00 in a report on Friday, October 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $144.88.
Shares of NASDAQ:PEP traded down $0.57 during mid-day trading on Thursday, reaching $142.02. The company had a trading volume of 90,785 shares, compared to its average volume of 4,831,978. The company’s 50-day moving average price is $145.14 and its 200-day moving average price is $139.24. The company has a current ratio of 0.93, a quick ratio of 0.77 and a debt-to-equity ratio of 2.79. PepsiCo, Inc. has a one year low of $101.42 and a one year high of $148.77. The firm has a market cap of $196.27 billion, a price-to-earnings ratio of 28.24, a PEG ratio of 3.90 and a beta of 0.57.
The business also recently declared a quarterly dividend, which was paid on Thursday, January 7th. Investors of record on Friday, December 4th were paid a $1.0225 dividend. This represents a $4.09 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date was Thursday, December 3rd. PepsiCo’s payout ratio is currently 73.96%.
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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