Coastwise Capital Group LLC Acquires 872 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Coastwise Capital Group LLC raised its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 59.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,344 shares of the company’s stock after acquiring an additional 872 shares during the quarter. Coastwise Capital Group LLC’s holdings in PepsiCo were worth $356,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of PEP. Newbridge Financial Services Group Inc. increased its stake in PepsiCo by 13.3% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 579 shares of the company’s stock worth $95,000 after buying an additional 68 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of PepsiCo during the second quarter worth about $223,000. Healthcare of Ontario Pension Plan Trust Fund increased its position in PepsiCo by 116.9% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 617,014 shares of the company’s stock worth $101,764,000 after purchasing an additional 332,558 shares during the last quarter. Anchor Investment Management LLC grew its stake in shares of PepsiCo by 17.5% in the 2nd quarter. Anchor Investment Management LLC now owns 26,359 shares of the company’s stock worth $4,347,000 after buying an additional 3,923 shares in the last quarter. Finally, Centaurus Financial Inc. raised its position in shares of PepsiCo by 210.2% during the 2nd quarter. Centaurus Financial Inc. now owns 14,419 shares of the company’s stock valued at $2,378,000 after buying an additional 9,770 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Up 1.0 %

PepsiCo stock opened at $151.90 on Friday. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41. The stock has a 50-day moving average price of $153.51 and a 200 day moving average price of $165.07. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The company has a market capitalization of $208.41 billion, a price-to-earnings ratio of 22.40, a price-to-earnings-growth ratio of 2.91 and a beta of 0.54.

PepsiCo Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were paid a dividend of $1.355 per share. The ex-dividend date was Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.57%. PepsiCo’s payout ratio is currently 79.94%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PEP. Deutsche Bank Aktiengesellschaft decreased 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, January 22nd. TD Cowen reduced their price target on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Piper Sandler began coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price objective for the company. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Finally, StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $176.73.

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.