Pacer Advisors Inc. Has $29.07 Million Position in PepsiCo, Inc. (NASDAQ:PEP)

Pacer Advisors Inc. reduced its stake in PepsiCo, Inc. (NASDAQ:PEP) by 11.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 191,170 shares of the company’s stock after selling 25,686 shares during the period. Pacer Advisors Inc.’s holdings in PepsiCo were worth $29,069,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PEP. Scientech Research LLC bought a new position in PepsiCo in the 2nd quarter valued at about $325,000. Magnolia Capital Advisors LLC bought a new position in shares of PepsiCo in the second quarter valued at approximately $1,421,000. Covington Investment Advisors Inc. grew its holdings in PepsiCo by 1.7% during the second quarter. Covington Investment Advisors Inc. now owns 25,357 shares of the company’s stock worth $4,182,000 after buying an additional 429 shares in the last quarter. Invst LLC raised its position in PepsiCo by 28.1% in the 2nd quarter. Invst LLC now owns 2,870 shares of the company’s stock valued at $467,000 after buying an additional 630 shares during the last quarter. Finally, Quarry LP lifted its stake in PepsiCo by 409.7% during the 2nd quarter. Quarry LP now owns 892 shares of the company’s stock valued at $147,000 after acquiring an additional 717 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on PEP. JPMorgan Chase & Co. lowered their target price on shares of PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a report on Friday. Deutsche Bank Aktiengesellschaft dropped their target price on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. Piper Sandler initiated coverage on PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price target for the company. Royal Bank of Canada cut their price objective on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. Finally, Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $177.00.

PepsiCo Stock Up 3.7 %

PEP stock opened at $154.61 on Tuesday. The stock has a 50-day simple moving average of $153.88 and a two-hundred day simple moving average of $165.35. PepsiCo, Inc. has a twelve month low of $141.51 and a twelve month high of $183.41. The firm has a market capitalization of $212.12 billion, a PE ratio of 22.80, a PEG ratio of 2.86 and a beta of 0.54. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96.

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were issued a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date of this dividend was Friday, December 6th. PepsiCo’s dividend payout ratio (DPR) is presently 79.94%.

PepsiCo Company 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.