Wealth Enhancement Advisory Services LLC Raises Holdings in PepsiCo, Inc. $PEP

Wealth Enhancement Advisory Services LLC grew its stake in PepsiCo, Inc. (NASDAQ:PEP) by 7.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,279,697 shares of the company’s stock after acquiring an additional 92,891 shares during the quarter. Wealth Enhancement Advisory Services LLC owned about 0.09% of PepsiCo worth $180,159,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Evolution Wealth Management Inc. acquired a new stake in PepsiCo during the second quarter worth approximately $27,000. JCIC Asset Management Inc. acquired a new stake in PepsiCo in the third quarter valued at $27,000. Legend Financial Advisors Inc. purchased a new stake in PepsiCo in the 2nd quarter valued at approximately $29,000. Vermillion & White Wealth Management Group LLC raised its stake 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 purchasing an additional 121 shares during the last quarter. Finally, Halbert Hargrove Global Advisors LLC boosted its position in PepsiCo by 667.7% during the third quarter. Halbert Hargrove Global Advisors LLC now owns 238 shares of the company’s stock worth $33,000 after acquiring an additional 207 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PEP. BNP Paribas Exane upgraded PepsiCo from a “neutral” rating to an “outperform” rating and set a $179.00 target price on the stock in a report on Friday. DZ Bank raised PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 price objective on the stock in a research note on Tuesday, October 21st. HSBC upped their price target on shares of PepsiCo from $145.00 to $152.00 and gave the company a “hold” rating in a research report on Friday, October 10th. Bank of America boosted their target price on shares of PepsiCo from $150.00 to $155.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. Finally, Loop Capital set a $164.00 target price on shares of PepsiCo in a research report on Thursday, October 23rd. Ten analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $161.32.

PepsiCo Price Performance

Shares of PEP opened at $146.32 on Monday. The stock’s 50-day moving average price is $145.62 and its two-hundred day moving average price is $144.73. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26. The stock has a market cap of $200.07 billion, a P/E ratio of 27.82, a price-to-earnings-growth ratio of 4.79 and a beta of 0.42. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $160.15.

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Investors of record on Friday, December 5th were issued a dividend of $1.4225 per share. This represents a $5.69 annualized dividend and a yield of 3.9%. The ex-dividend date was Friday, December 5th. PepsiCo’s dividend payout ratio is presently 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.