Ellsworth Advisors LLC Raises Position in PepsiCo, Inc. (NASDAQ:PEP)

Ellsworth Advisors LLC boosted its position in PepsiCo, Inc. (NASDAQ:PEP) by 3.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,324 shares of the company’s stock after buying an additional 399 shares during the quarter. Ellsworth Advisors LLC’s holdings in PepsiCo were worth $2,026,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PEP. Pacer Advisors Inc. grew its stake in PepsiCo by 14.1% in the 2nd quarter. Pacer Advisors Inc. now owns 201,035 shares of the company’s stock worth $33,157,000 after buying an additional 24,835 shares in the last quarter. Sei Investments Co. boosted its stake in PepsiCo by 2.8% in the second quarter. Sei Investments Co. now owns 389,241 shares of the company’s stock worth $64,186,000 after buying an additional 10,547 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of PepsiCo by 8.5% in the 2nd quarter. Thrivent Financial for Lutherans now owns 121,512 shares of the company’s stock valued at $20,040,000 after purchasing an additional 9,567 shares in the last quarter. Merriman Wealth Management LLC raised its position in PepsiCo by 3.5% in the 2nd quarter. Merriman Wealth Management LLC now owns 1,965 shares of the company’s stock worth $324,000 after purchasing an additional 66 shares during the period. Finally, Kowal Investment Group LLC lifted its stake in PepsiCo by 6.5% in the second quarter. Kowal Investment Group LLC now owns 8,486 shares of the company’s stock worth $1,400,000 after purchasing an additional 518 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Trading Up 1.2 %

Shares of PEP stock opened at $148.25 on Monday. The stock has a market capitalization of $203.40 billion, a P/E ratio of 21.87, a P/E/G ratio of 2.57 and a beta of 0.54. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The firm’s 50 day moving average is $155.37 and its 200 day moving average is $165.86. PepsiCo, Inc. has a 12-month low of $141.51 and a 12-month high of $183.41.

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were given a $1.355 dividend. The ex-dividend date was Friday, December 6th. This represents a $5.42 annualized dividend and a yield of 3.66%. PepsiCo’s payout ratio is 79.94%.

Analysts Set New Price Targets

PEP has been the topic of several analyst reports. Piper Sandler began coverage on PepsiCo in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 target price for the company. Deutsche Bank Aktiengesellschaft raised PepsiCo from a “hold” rating to a “buy” rating and increased their price objective for the company from $179.00 to $184.00 in a research note on Thursday, December 12th. TD Cowen lowered their price target on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Finally, StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, PepsiCo presently has an average rating of “Hold” and an average target price of $178.60.

PepsiCo Profile

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.