Financial Advisors LLC has decreased its stake in PepsiCo, Inc. (NASDAQ: PEP) by 5.0% during the second quarter of 2023. According to the firm’s recent Form 13F filing with the Securities and Exchange Commission, it now holds 1,874 shares of the beverage and snack giant after selling 99 shares during the period. These holdings were valued at approximately $247,000 as of the latest filing.
Other institutional investors have also made notable adjustments to their positions in PepsiCo. Vanguard Group Inc. increased its stake by 1.4% in the first quarter, owning 135,174,252 shares valued at $20.3 billion after acquiring an additional 1,802,748 shares. Similarly, Charles Schwab Investment Management Inc. raised its holdings by 5.0%, now owning 26,475,241 shares worth $3.97 billion following the purchase of 1,258,198 shares.
Bank of New York Mellon Corp grew its stake in PepsiCo by 0.4%, holding 14,062,857 shares valued at $2.1 billion. UBS Asset Management also expanded its holdings by 1.8%, now owning 11,525,812 shares worth approximately $1.73 billion. Invesco Ltd. increased its stake by 4.5%, owning 11,328,158 shares valued at $1.7 billion. Collectively, hedge funds and institutional investors own approximately 73.07% of PepsiCo’s stock.
Current Market Performance
PepsiCo’s stock opened at $153.71 on Monday, October 9, 2023. The company has seen a fifty-day simple moving average of $145.51 and a two-hundred-day simple moving average of $139.25. Financial metrics show a current ratio of 0.91, a quick ratio of 0.72, and a debt-to-equity ratio of 2.26. PepsiCo’s market capitalization stands at $210.17 billion with a price-to-earnings (P/E) ratio of 29.22 and a P/E to growth (P/E/G) ratio of 3.74. Over the past year, its stock has ranged from a low of $127.60 to a high of $177.50.
On September 30, 2023, PepsiCo paid a quarterly dividend of $1.4225 per share to shareholders of record as of September 5, 2023. This dividend reflects an annualized payout of $5.69, translating to a dividend yield of 3.7%. The company’s current dividend payout ratio is at 108.17%, indicating a robust commitment to returning value to shareholders.
Analyst Ratings and Insights
Several research analysts have recently shared their perspectives on PepsiCo’s stock. Jefferies Financial Group increased its price target from $161.00 to $163.00, maintaining a “hold” rating. In contrast, BNP Paribas Exane reduced its target from $152.00 to $150.00, assigning a “neutral” rating to the stock. Cowen reiterated its “hold” rating, while Evercore ISI raised its price target from $150.00 to $152.00.
Rothschild & Co Redburn lifted its price objective from $115.00 to $117.00, assigning a “sell” rating. Overall, six investment analysts rate the stock as a Buy, fourteen suggest a Hold, and one rates it as a Sell. The average target price for PepsiCo currently sits at $156.00, according to data from MarketBeat.com.
PepsiCo, Inc. remains a global leader in the manufacture, marketing, distribution, and sale of beverages and convenient foods. The company operates across seven segments, including Frito-Lay North America, Quaker Foods North America, and various international divisions.
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