Pflug Koory LLC Has $1.17 Million Position in PepsiCo, Inc. (NASDAQ:PEP)

Pflug Koory LLC boosted its stake in PepsiCo, Inc. (NASDAQ:PEP) by 2.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 7,674 shares of the company’s stock after acquiring an additional 175 shares during the quarter. Pflug Koory LLC’s holdings in PepsiCo were worth $1,167,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PEP. Global Wealth Strategies & Associates grew its position in PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after acquiring an additional 59 shares during the last quarter. Highline Wealth Partners LLC acquired a new stake in shares of PepsiCo during the third quarter valued at about $28,000. Legacy Investment Solutions LLC bought a new stake in shares of PepsiCo during the third quarter worth about $31,000. Rakuten Securities Inc. raised its holdings in PepsiCo by 93.2% in the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after buying an additional 96 shares during the last quarter. Finally, Mattson Financial Services LLC bought a new stake in PepsiCo during the 2nd quarter worth approximately $34,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PEP shares. Piper Sandler assumed coverage on shares of PepsiCo in a report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price target on the stock. TD Cowen reduced their price target on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Wells Fargo & Company lowered their price objective on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Royal Bank of Canada reduced their target price on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a research report on Wednesday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $177.00.

PepsiCo Stock Performance

NASDAQ PEP opened at $149.12 on Friday. The company has a market cap of $204.59 billion, a P/E ratio of 21.99, a PEG ratio of 2.86 and a beta of 0.54. The company has a fifty day simple moving average of $154.07 and a 200 day simple moving average of $165.40. 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, Inc. has a 12-month low of $141.51 and a 12-month high of $183.41.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were issued a $1.355 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.63%. 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.