Vest Financial LLC has expanded its holdings in PepsiCo, Inc. (NASDAQ: PEP) by 2.3% during the third quarter of 2023, as indicated in its recent 13F filing with the Securities and Exchange Commission. The investment firm now owns 404,684 shares of PepsiCo after acquiring an additional 8,988 shares in the quarter, bringing the value of its holdings to approximately $56.83 million.
Several other institutional investors have also adjusted their positions in PepsiCo recently. For instance, JCIC Asset Management Inc. entered a new position in PepsiCo valued at around $27,000 during the third quarter. Similarly, Evolution Wealth Management Inc. and Legend Financial Advisors Inc. each purchased new stakes in the company during the second quarter, valued at approximately $27,000 and $29,000, respectively. Notably, Vermillion & White Wealth Management Group LLC increased its stake by an impressive 107.1%, now holding 234 shares worth $31,000, while Halbert Hargrove Global Advisors LLC saw a significant increase of 667.7% in its position, bringing its total to 238 shares valued at $33,000. Collectively, hedge funds and institutional investors own 73.07% of PepsiCo’s stock.
Analysts have also been active in evaluating PepsiCo’s stock. Weiss Ratings reaffirmed a “hold (c)” rating on January 9, 2024. Barclays set a price target of $148.00, while Piper Sandler increased its target from $161.00 to $172.00, maintaining an “overweight” rating. DZ Bank upgraded the stock from a “hold” to a “buy” rating with a price objective of $167.00. Wells Fargo & Company lifted its target price from $150.00 to $154.00, giving the stock a “positive” rating. Currently, ten analysts have rated PepsiCo with a “Buy” rating, ten have issued a “Hold” rating, and one has recommended a “Sell” rating, leading to a consensus rating of “Hold” and a price target of $161.32, according to MarketBeat.
Current Stock Performance and Financial Metrics
On January 10, 2024, shares of PepsiCo opened at $147.66. The company maintains a debt-to-equity ratio of 2.26, with a quick ratio of 0.72 and a current ratio of 0.91. PepsiCo has a market capitalization of $201.90 billion, a price-to-earnings ratio of 28.07, and a price-to-earnings-growth ratio of 4.79. The stock has fluctuated within a one-year range, hitting a low of $127.60 and a high of $160.15.
Recently, PepsiCo also announced a quarterly dividend of $1.4225, which was paid on January 6, 2024. Shareholders who were on record as of December 5, 2023, received this dividend. This payment translates to an annualized dividend of $5.69, yielding approximately 3.9%. The current payout ratio stands at 108.17%.
About PepsiCo
PepsiCo, Inc., headquartered in Purchase, New York, is a global leader in the food and beverage industry. The company offers an extensive range of branded products, including both carbonated and non-carbonated soft drinks, bottled water, sports drinks, juices, and ready-to-drink teas and coffees. Its portfolio features well-known brands like Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos, and Cheetos. Formed through the merger of Pepsi-Cola and Frito-Lay in 1965, PepsiCo has developed a robust global business with integrated manufacturing, distribution, and marketing operations.
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