Exchange Traded Concepts LLC Raises Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Exchange Traded Concepts LLC raised its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 13.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 126,594 shares of the company’s stock after acquiring an additional 15,389 shares during the quarter. Exchange Traded Concepts LLC’s holdings in PepsiCo were worth $19,250,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Fred Alger Management LLC boosted its position in shares of PepsiCo by 5.6% in the 2nd quarter. Fred Alger Management LLC now owns 49,842 shares of the company’s stock worth $8,220,000 after purchasing an additional 2,651 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in PepsiCo in the second quarter worth about $223,000. Ameriprise Financial Inc. increased its holdings in shares of PepsiCo by 1.1% during the second quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock valued at $846,030,000 after acquiring an additional 57,322 shares in the last quarter. Elgethun Capital Management raised its position in shares of PepsiCo by 0.9% in the 2nd quarter. Elgethun Capital Management now owns 6,977 shares of the company’s stock valued at $1,151,000 after purchasing an additional 63 shares during the last quarter. Finally, Drucker Wealth 3.0 LLC purchased a new stake in PepsiCo during the 2nd quarter worth approximately $537,000. 73.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PEP has been the subject of a number of research analyst reports. JPMorgan Chase & Co. decreased their price target on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Wells Fargo & Company lowered their price target on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft dropped their target price on PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Bank of America reduced their price target on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. 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 stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $178.20.

PepsiCo Trading Down 0.3 %

Shares of NASDAQ:PEP opened at $148.24 on Friday. The firm has a market capitalization of $203.38 billion, a price-to-earnings ratio of 21.85, a price-to-earnings-growth ratio of 2.86 and a beta of 0.54. The business’s 50 day moving average price is $154.40 and its 200-day moving average price is $165.52. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. PepsiCo, Inc. has a 1 year low of $141.51 and a 1 year high of $183.41.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, January 6th. Stockholders 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 dividend yield of 3.66%. PepsiCo’s dividend payout ratio (DPR) is 79.94%.

PepsiCo Company 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.