Townsquare Capital LLC Has $5.67 Million Holdings in PepsiCo, Inc. $PEP

Townsquare Capital LLC grew its stake in PepsiCo, Inc. (NASDAQ:PEP) by 96.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,383 shares of the company’s stock after buying an additional 19,829 shares during the period. Townsquare Capital LLC’s holdings in PepsiCo were worth $5,671,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. JCIC Asset Management Inc. bought a new stake in shares of PepsiCo during the 3rd quarter worth $27,000. Evolution Wealth Management Inc. acquired a new position in shares of PepsiCo during the 2nd quarter worth about $27,000. Vermillion & White Wealth Management Group LLC increased its position in PepsiCo by 107.1% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 234 shares of the company’s stock worth $31,000 after buying an additional 121 shares during the period. Halbert Hargrove Global Advisors LLC boosted its position in shares of PepsiCo by 667.7% in the third quarter. Halbert Hargrove Global Advisors LLC now owns 238 shares of the company’s stock valued at $33,000 after acquiring an additional 207 shares during the period. Finally, Frazier Financial Advisors LLC grew its stake in shares of PepsiCo by 85.3% in the second quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock worth $35,000 after acquiring an additional 122 shares during the last quarter. 73.07% of the stock is owned by institutional investors.

PepsiCo Trading Up 0.1%

PEP stock opened at $148.69 on Friday. The business has a fifty day moving average price of $145.79 and a 200 day moving average price of $145.32. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.91 and a quick ratio of 0.72. PepsiCo, Inc. has a fifty-two week low of $127.60 and a fifty-two week high of $160.15. The stock has a market capitalization of $203.31 billion, a price-to-earnings ratio of 28.27, a P/E/G ratio of 4.88 and a beta of 0.42.

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 6th. Investors of record on Friday, December 5th were given a dividend of $1.4225 per share. The ex-dividend date was Friday, December 5th. This represents a $5.69 annualized dividend and a yield of 3.8%. PepsiCo’s dividend payout ratio is 108.17%.

Analyst Ratings Changes

A number of brokerages have weighed in on PEP. Citigroup increased their price target on shares of PepsiCo from $165.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, December 17th. Evercore ISI lifted their target price on PepsiCo from $150.00 to $152.00 in a research report on Friday, October 10th. Piper Sandler upped their price target on PepsiCo from $161.00 to $172.00 and gave the company an “overweight” rating in a report on Tuesday, December 9th. Loop Capital set a $164.00 price objective on PepsiCo in a report on Thursday, October 23rd. Finally, JPMorgan Chase & Co. upgraded PepsiCo from a “neutral” rating to an “overweight” rating and upped their target price for the company from $151.00 to $164.00 in a research note on Wednesday, December 10th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $159.29.

About PepsiCo

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.