Financial Enhancement Group LLC Takes $396,000 Position in PepsiCo, Inc. (NASDAQ:PEP)

Financial Enhancement Group LLC purchased a new position in PepsiCo, Inc. (NASDAQ:PEP) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,740 shares of the company’s stock, valued at approximately $396,000.

A number of other large investors also recently added to or reduced their stakes in PEP. State Street Corp lifted its holdings in PepsiCo by 5.1% in the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock valued at $9,738,429,000 after purchasing an additional 2,775,679 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of PepsiCo by 1.8% in the third quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock worth $5,170,529,000 after buying an additional 543,558 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in PepsiCo by 5.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock worth $3,632,413,000 after acquiring an additional 1,125,059 shares during the last quarter. Legal & General Group Plc raised its holdings in PepsiCo by 7.2% in the 2nd quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock valued at $2,234,400,000 after acquiring an additional 905,468 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in PepsiCo by 21.1% in the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock worth $2,293,049,000 after purchasing an additional 2,264,445 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PEP. Piper Sandler initiated coverage on PepsiCo in a report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price target for the company. Bank of America cut their target price on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Royal Bank of Canada dropped their price objective on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. dropped their price target on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $180.64.

PepsiCo Trading Down 0.1 %

NASDAQ PEP opened at $144.78 on Thursday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The firm has a market cap of $198.64 billion, a price-to-earnings ratio of 21.35, a PEG ratio of 2.57 and a beta of 0.54. The firm has a 50 day simple moving average of $156.46 and a 200-day simple moving average of $166.20. PepsiCo, Inc. has a one year low of $141.51 and a one year high of $183.41.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were paid a $1.355 dividend. The ex-dividend date was Friday, December 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.74%. PepsiCo’s dividend payout ratio (DPR) is 79.94%.

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.