Sharp Financial Services LLC Acquires Shares of 3,585 PepsiCo, Inc. $PEP

Sharp Financial Services LLC acquired a new stake in shares of PepsiCo, Inc. (NASDAQ:PEP) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 3,585 shares of the company’s stock, valued at approximately $503,000.

A number of other large investors have also added to or reduced their stakes in PEP. Vanguard Group Inc. boosted its position in PepsiCo by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 136,936,037 shares of the company’s stock valued at $18,081,034,000 after buying an additional 1,761,785 shares during the last quarter. State Street Corp boosted its holdings in PepsiCo by 1.6% in the second quarter. State Street Corp now owns 58,419,849 shares of the company’s stock valued at $7,713,757,000 after purchasing an additional 920,045 shares during the last quarter. Geode Capital Management LLC increased its holdings in PepsiCo by 0.3% during the 2nd quarter. Geode Capital Management LLC now owns 32,675,492 shares of the company’s stock worth $4,301,240,000 after purchasing an additional 86,695 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of PepsiCo by 9.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 29,031,404 shares of the company’s stock valued at $3,833,406,000 after buying an additional 2,556,163 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of PepsiCo during the second quarter worth approximately $2,330,594,000. 73.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on PEP. Piper Sandler increased their price objective on shares of PepsiCo from $161.00 to $172.00 and gave the company an “overweight” rating in a research note on Tuesday, December 9th. Evercore ISI increased their price target on shares of PepsiCo from $150.00 to $152.00 in a research report on Friday, October 10th. Citigroup boosted their price objective on PepsiCo from $165.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, December 17th. DZ Bank raised PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 target price on the stock in a report on Tuesday, October 21st. Finally, UBS Group lowered their price target on PepsiCo from $172.00 to $170.00 and set a “buy” rating for the company in a report on Wednesday. Eight analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, PepsiCo has a consensus rating of “Hold” and a consensus price target of $158.58.

PepsiCo Price Performance

Shares of PEP opened at $145.92 on Thursday. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.91 and a quick ratio of 0.72. The company has a market cap of $199.52 billion, a P/E ratio of 27.74, a PEG ratio of 4.70 and a beta of 0.42. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $160.15. The stock has a fifty day moving average price of $145.45 and a 200 day moving average price of $144.49.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 6th. Investors of record on Friday, December 5th were given a $1.4225 dividend. The ex-dividend date was Friday, December 5th. This represents a $5.69 annualized dividend and a yield of 3.9%. PepsiCo’s dividend payout ratio (DPR) is currently 108.17%.

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.