AdvisorNet Financial Inc Reduces Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

AdvisorNet Financial Inc lessened its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.4% in the 4th quarter, HoldingsChannel reports. The firm owned 8,652 shares of the company’s stock after selling 209 shares during the quarter. AdvisorNet Financial Inc’s holdings in PepsiCo were worth $1,316,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. First Financial Corp IN increased its holdings in shares of PepsiCo by 10.5% during the 4th quarter. First Financial Corp IN now owns 3,321 shares of the company’s stock valued at $505,000 after purchasing an additional 315 shares in the last quarter. Marion Wealth Management grew its position in PepsiCo by 3.5% during the fourth quarter. Marion Wealth Management now owns 9,282 shares of the company’s stock valued at $1,411,000 after buying an additional 313 shares during the period. Miracle Mile Advisors LLC increased its holdings in PepsiCo by 212.7% in the fourth quarter. Miracle Mile Advisors LLC now owns 43,245 shares of the company’s stock valued at $6,576,000 after buying an additional 29,416 shares in the last quarter. Elevated Capital Advisors LLC boosted its stake in shares of PepsiCo by 10.6% during the 4th quarter. Elevated Capital Advisors LLC now owns 9,217 shares of the company’s stock worth $1,402,000 after acquiring an additional 882 shares in the last quarter. Finally, Bar Harbor Wealth Management grew its position in shares of PepsiCo by 1.1% during the 4th quarter. Bar Harbor Wealth Management now owns 60,783 shares of the company’s stock valued at $9,243,000 after acquiring an additional 670 shares during the period. 73.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PEP has been the topic of several research analyst reports. Piper Sandler initiated coverage on PepsiCo in a report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price objective on the stock. Deutsche Bank Aktiengesellschaft raised shares of PepsiCo from a “hold” rating to a “buy” rating and boosted their price target for the stock from $179.00 to $184.00 in a report on Thursday, December 12th. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Wells Fargo & Company cut their target price on shares of PepsiCo from $170.00 to $155.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Finally, Hsbc Global Res upgraded PepsiCo to a “hold” rating in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $180.64.

PepsiCo Trading Up 0.3 %

Shares of PEP stock opened at $144.95 on Wednesday. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a twelve month low of $141.51 and a twelve month high of $183.41. The company’s 50-day moving average price is $156.46 and its 200-day moving average price is $166.20. The stock has a market cap of $198.87 billion, a price-to-earnings ratio of 21.38, a PEG ratio of 2.94 and a beta of 0.54.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were issued a dividend of $1.355 per share. The ex-dividend date was Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.74%. PepsiCo’s dividend payout ratio is currently 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.