PepsiCo, Inc. (NASDAQ:PEP) Shares Bought by Calamos Wealth Management LLC

Calamos Wealth Management LLC boosted its position in PepsiCo, Inc. (NASDAQ:PEP) by 939.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 69,723 shares of the company’s stock after purchasing an additional 63,016 shares during the quarter. Calamos Wealth Management LLC’s holdings in PepsiCo were worth $10,602,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PEP. Highline Wealth Partners LLC purchased a new position in PepsiCo in the 3rd quarter worth about $28,000. Legacy Investment Solutions LLC purchased a new position in shares of PepsiCo during the 3rd quarter valued at $31,000. Rakuten Securities Inc. increased its position in PepsiCo by 93.2% in the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after purchasing an additional 96 shares during the last quarter. ORG Wealth Partners LLC bought a new position in PepsiCo during the third quarter valued at approximately $44,000. Finally, Global Wealth Strategies & Associates boosted its holdings in PepsiCo by 145.3% in the fourth quarter. Global Wealth Strategies & Associates now owns 390 shares of the company’s stock worth $59,000 after purchasing an additional 231 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $172.00 price objective on shares of PepsiCo in a report on Wednesday, January 29th. Piper Sandler started coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 target price for the company. UBS Group reduced their price objective on PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a research note on Wednesday, January 22nd. 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 stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $176.73.

PepsiCo Stock Performance

NASDAQ:PEP opened at $150.27 on Tuesday. PepsiCo, Inc. has a 1-year low of $141.51 and a 1-year high of $183.41. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The stock has a market cap of $206.17 billion, a P/E ratio of 22.16, a price-to-earnings-growth ratio of 2.92 and a beta of 0.54. The stock’s 50-day moving average is $153.12 and its 200-day moving average is $164.85.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were paid a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a yield of 3.61%. The ex-dividend date was Friday, December 6th. PepsiCo’s dividend payout ratio is presently 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.