Phoenix Financial Ltd. Raises Stock Holdings in PepsiCo, Inc. $PEP

Phoenix Financial Ltd. increased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 65.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,199 shares of the company’s stock after purchasing an additional 21,426 shares during the quarter. Phoenix Financial Ltd.’s holdings in PepsiCo were worth $7,614,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Evolution Wealth Management Inc. acquired a new position in shares of PepsiCo in the second quarter valued at approximately $27,000. JCIC Asset Management Inc. acquired a new position in PepsiCo in the 3rd quarter valued at $27,000. Vermillion & White Wealth Management Group LLC lifted its stake in shares of PepsiCo by 107.1% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 234 shares of the company’s stock worth $31,000 after purchasing an additional 121 shares during the period. Halbert Hargrove Global Advisors LLC boosted its holdings in shares of 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 purchasing an additional 207 shares during the last quarter. Finally, Frazier Financial Advisors LLC grew its position in shares of PepsiCo by 85.3% in the second quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock valued at $35,000 after purchasing an additional 122 shares during the period. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on PEP shares. BNP Paribas Exane upgraded PepsiCo from a “hold” rating to an “outperform” rating and set a $179.00 target price on the stock in a research report on Friday, January 16th. The Goldman Sachs Group increased their price objective on shares of PepsiCo from $165.00 to $167.00 and gave the stock a “buy” rating in a report on Friday, October 10th. DZ Bank upgraded shares of PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 target price for the company in a report on Tuesday, October 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PepsiCo in a research note on Friday, January 9th. Finally, Piper Sandler boosted 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. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $159.29.

PepsiCo Price Performance

PEP opened at $145.87 on Tuesday. PepsiCo, Inc. has a 52-week low of $127.60 and a 52-week high of $160.15. The company has a 50 day moving average of $145.71 and a two-hundred day moving average of $145.18. The company has a market cap of $199.45 billion, a P/E ratio of 27.73, a P/E/G ratio of 4.74 and a beta of 0.42. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26.

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 issued a $1.4225 dividend. 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 currently 108.17%.

PepsiCo Company 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.