PepsiCo, Inc. (NASDAQ:PEP) Shares Bought by Godsey & Gibb Inc.

Godsey & Gibb Inc. grew its stake in PepsiCo, Inc. (NASDAQ:PEP) by 2.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 117,494 shares of the company’s stock after buying an additional 2,377 shares during the period. Godsey & Gibb Inc.’s holdings in PepsiCo were worth $17,866,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Empowered Funds LLC lifted its stake in PepsiCo by 9.2% in the third quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock valued at $16,968,000 after buying an additional 8,406 shares during the last quarter. Janus Henderson Group PLC raised its position in PepsiCo by 11.0% in the 3rd quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock valued at $59,549,000 after purchasing an additional 34,633 shares during the last quarter. Hudson Valley Investment Advisors Inc. ADV boosted its stake in PepsiCo by 12.8% during the 4th quarter. Hudson Valley Investment Advisors Inc. ADV now owns 41,580 shares of the company’s stock worth $6,323,000 after purchasing an additional 4,712 shares during the period. IHT Wealth Management LLC grew its position in PepsiCo by 19.3% during the 3rd quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock worth $5,493,000 after purchasing an additional 5,220 shares during the last quarter. Finally, Meridian Wealth Management LLC purchased a new stake in shares of PepsiCo in the third quarter valued at about $9,589,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on PEP shares. Hsbc Global Res raised PepsiCo to a “hold” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. dropped their target price on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Barclays decreased their price target on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Royal Bank of Canada cut their price objective on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. Finally, Piper Sandler initiated coverage on shares of PepsiCo in a report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 target price on the stock. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, PepsiCo has a consensus rating of “Hold” and an average target price of $180.64.

PepsiCo Stock Performance

PEP opened at $144.78 on Thursday. The stock’s 50 day simple moving average is $156.46 and its 200 day simple moving average is $166.20. The stock has a market cap of $198.64 billion, a P/E ratio of 21.35, a P/E/G ratio of 2.57 and a beta of 0.54. PepsiCo, Inc. has a 1-year low of $141.51 and a 1-year high of $183.41. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were given a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date was Friday, December 6th. PepsiCo’s dividend payout ratio is currently 79.94%.

About PepsiCo

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.