Stablepoint Partners LLC Boosts Holdings in PepsiCo, Inc. $PEP

Stablepoint Partners LLC increased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 11.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 46,866 shares of the company’s stock after acquiring an additional 4,709 shares during the quarter. PepsiCo comprises about 1.0% of Stablepoint Partners LLC’s portfolio, making the stock its 27th largest holding. Stablepoint Partners LLC’s holdings in PepsiCo were worth $6,582,000 as of its most recent filing with the SEC.

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PEP. Jefferies Financial Group upped their price objective on shares of PepsiCo from $163.00 to $164.00 and gave the stock a “hold” rating in a research note on Tuesday, December 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of PepsiCo in a research note on Friday, January 9th. Wells Fargo & Company lifted their price target on shares of PepsiCo from $150.00 to $154.00 and gave the stock a “positive” rating in a report on Friday, October 10th. Piper Sandler upped their target price on PepsiCo from $161.00 to $172.00 and gave the company an “overweight” rating in a research report on Tuesday, December 9th. Finally, Loop Capital set a $164.00 price target on PepsiCo in a research note on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $159.29.

PepsiCo Price Performance

Shares of NASDAQ:PEP opened at $145.87 on Tuesday. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $160.15. The company’s 50 day moving average is $145.71 and its 200 day moving average is $145.18. The company has a market cap of $199.45 billion, a PE ratio of 27.73, a price-to-earnings-growth ratio of 4.74 and a beta of 0.42.

PepsiCo Dividend Announcement

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

PepsiCo Profile

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.