PepsiCo, Inc. (NASDAQ:PEP) Stake Lifted by Matthew Goff Investment Advisor LLC

Matthew Goff Investment Advisor LLC grew its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 63,774 shares of the company’s stock after purchasing an additional 232 shares during the quarter. PepsiCo accounts for about 1.8% of Matthew Goff Investment Advisor LLC’s holdings, making the stock its 18th biggest holding. Matthew Goff Investment Advisor LLC’s holdings in PepsiCo were worth $9,697,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of PEP. Empowered Funds LLC increased its stake in shares of 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 purchasing an additional 8,406 shares during the period. Assenagon Asset Management S.A. boosted its position in PepsiCo by 104.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,705,574 shares of the company’s stock worth $259,350,000 after acquiring an additional 870,451 shares during the period. Janus Henderson Group PLC raised its stake in shares of PepsiCo by 11.0% during the third 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 in the last quarter. Hudson Valley Investment Advisors Inc. ADV increased 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 valued at $6,323,000 after buying an additional 4,712 shares during the period. Finally, IHT Wealth Management LLC boosted its holdings in shares of PepsiCo by 19.3% in the third quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock valued at $5,493,000 after acquiring an additional 5,220 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

PEP has been the subject of several research analyst reports. TD Cowen cut their price objective on PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Royal Bank of Canada dropped their price target on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. Piper Sandler initiated coverage on PepsiCo in a research note on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a report on Wednesday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $178.20.

PepsiCo Price Performance

Shares of PEP opened at $148.62 on Friday. The firm’s 50 day moving average price is $154.40 and its 200 day moving average price is $165.52. PepsiCo, Inc. has a twelve month low of $141.51 and a twelve month high of $183.41. The firm has a market cap of $203.91 billion, a PE ratio of 21.92, a PEG ratio of 2.86 and a beta of 0.54. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were given a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a yield of 3.65%. The ex-dividend date was Friday, December 6th. PepsiCo’s payout ratio is 79.94%.

PepsiCo Profile

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.