BankPlus Wealth Management LLC Takes $317,000 Position in PepsiCo, Inc. (NASDAQ:PEP)

BankPlus Wealth Management LLC purchased a new position in PepsiCo, Inc. (NASDAQ:PEP) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,085 shares of the company’s stock, valued at approximately $317,000.

Other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its position in shares of PepsiCo by 17,113.0% during the 3rd quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock valued at $547,626,000 after acquiring an additional 3,201,676 shares in the last quarter. State Street Corp lifted its position in shares of PepsiCo by 5.1% in the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after buying an additional 2,775,679 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of PepsiCo by 21.1% in the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock valued at $2,293,049,000 after buying an additional 2,264,445 shares during the period. Swedbank AB raised its stake in PepsiCo by 211.4% during the third quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock worth $398,847,000 after acquiring an additional 1,592,343 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in PepsiCo by 5.6% in 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. 73.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PEP shares. Royal Bank of Canada dropped their price target on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a research note on Thursday, October 10th. 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 research report on Wednesday, January 8th. JPMorgan Chase & Co. cut their price objective on shares of PepsiCo from $183.00 to $165.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, Piper Sandler started coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 target price for the company. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $177.00.

PepsiCo Price Performance

NASDAQ:PEP opened at $154.61 on Tuesday. PepsiCo, Inc. has a 52-week low of $141.51 and a 52-week high of $183.41. 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 firm has a market cap of $212.12 billion, a P/E ratio of 22.80, a PEG ratio of 2.86 and a beta of 0.54. The business’s 50-day moving average price is $153.88 and its 200 day moving average price is $165.35.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were paid a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a yield of 3.51%. The ex-dividend date was Friday, December 6th. PepsiCo’s dividend payout ratio is presently 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.