Hanson & Doremus Investment Management Acquires 1,162 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Hanson & Doremus Investment Management lifted its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 25.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 5,669 shares of the company’s stock after acquiring an additional 1,162 shares during the quarter. Hanson & Doremus Investment Management’s holdings in PepsiCo were worth $862,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Global Wealth Strategies & Associates grew its holdings in PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after acquiring an additional 59 shares during the period. Highline Wealth Partners LLC bought a new stake in shares of PepsiCo during the 3rd quarter valued at about $28,000. Legacy Investment Solutions LLC acquired a new stake in PepsiCo during the third quarter worth approximately $31,000. Mattson Financial Services LLC bought a new position in shares of PepsiCo during the 2nd quarter worth approximately $34,000. Finally, Rakuten Securities Inc. grew its position in shares of PepsiCo by 93.2% during the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after buying an additional 96 shares during the period. 73.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PEP. Wells Fargo & Company cut their target price on shares of PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. 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, January 24th. TD Cowen dropped their price target on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Hsbc Global Res raised PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Finally, Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, PepsiCo currently has a consensus rating of “Hold” and a consensus price target of $176.73.

PepsiCo Price Performance

Shares of NASDAQ PEP opened at $150.37 on Thursday. The company has a market capitalization of $206.31 billion, a PE ratio of 22.18, a PEG ratio of 2.86 and a beta of 0.54. 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 stock’s 50 day moving average price is $153.68 and its 200-day moving average price is $165.17. PepsiCo, Inc. has a twelve month low of $141.51 and a twelve month high of $183.41.

PepsiCo Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 3.60%. PepsiCo’s dividend payout ratio (DPR) is presently 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.