Burney Co. Purchases 448 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Burney Co. grew its position in PepsiCo, Inc. (NASDAQ:PEP) by 2.1% during the fourth quarter, HoldingsChannel reports. The firm owned 21,887 shares of the company’s stock after buying an additional 448 shares during the period. Burney Co.’s holdings in PepsiCo were worth $3,328,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of PEP. Edgestream Partners L.P. lifted its stake in shares of PepsiCo by 190.5% in the 2nd quarter. Edgestream Partners L.P. now owns 13,377 shares of the company’s stock valued at $2,206,000 after purchasing an additional 8,772 shares during the period. Financial & Tax Architects LLC increased its holdings in PepsiCo by 5.4% in the second quarter. Financial & Tax Architects LLC now owns 33,809 shares of the company’s stock worth $5,576,000 after purchasing an additional 1,722 shares in the last quarter. E Fund Management Co. Ltd. lifted its stake in PepsiCo by 6.5% in the second quarter. E Fund Management Co. Ltd. now owns 20,332 shares of the company’s stock valued at $3,353,000 after buying an additional 1,243 shares during the period. Mercer Global Advisors Inc. ADV boosted its holdings in shares of PepsiCo by 2.2% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 231,170 shares of the company’s stock worth $38,127,000 after buying an additional 4,912 shares in the last quarter. Finally, Argent Trust Co grew its position in shares of PepsiCo by 1.2% during the 2nd quarter. Argent Trust Co now owns 103,476 shares of the company’s stock worth $17,066,000 after buying an additional 1,265 shares during the period. Institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

PEP has been the topic of several research analyst reports. Wells Fargo & Company cut their target price on shares of PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. JPMorgan Chase & Co. reduced their target price on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. TD Cowen dropped their price target on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft raised PepsiCo from a “hold” rating to a “buy” rating and raised their price objective for the company from $179.00 to $184.00 in a research note on Thursday, December 12th. Finally, Barclays cut their target price on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $180.64.

PepsiCo Trading Down 0.1 %

NASDAQ:PEP opened at $144.78 on Thursday. The firm’s 50 day moving average is $156.46 and its 200 day moving average is $166.20. PepsiCo, Inc. has a 12 month low of $141.51 and a 12 month high of $183.41. The stock has a market capitalization of $198.64 billion, a PE ratio of 21.35, a price-to-earnings-growth ratio of 2.57 and a beta of 0.54. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were given a dividend of $1.355 per share. The ex-dividend date was Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.74%. 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.