NorthCrest Asset Manangement LLC Raises Stock Position in PepsiCo, Inc. $PEP

NorthCrest Asset Manangement LLC raised its stake in PepsiCo, Inc. (NASDAQ:PEP) by 6.6% in the third quarter, HoldingsChannel reports. The fund owned 145,900 shares of the company’s stock after purchasing an additional 9,071 shares during the period. NorthCrest Asset Manangement LLC’s holdings in PepsiCo were worth $20,541,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC lifted its stake in shares of PepsiCo by 12.4% in the fourth quarter. Brighton Jones LLC now owns 59,392 shares of the company’s stock worth $9,031,000 after buying an additional 6,574 shares in the last quarter. Caxton Associates LLP purchased a new position in PepsiCo during the first quarter worth approximately $251,000. Sivia Capital Partners LLC boosted its stake in PepsiCo by 138.5% during the second quarter. Sivia Capital Partners LLC now owns 6,527 shares of the company’s stock worth $862,000 after buying an additional 3,790 shares during the last quarter. Vantage Wealth increased its stake in shares of PepsiCo by 10.9% in the 2nd quarter. Vantage Wealth now owns 133,905 shares of the company’s stock worth $17,681,000 after acquiring an additional 13,172 shares during the last quarter. Finally, Kaufman Rossin Wealth LLC acquired a new stake in PepsiCo during the second quarter worth about $289,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Trading Down 0.2%

NASDAQ PEP opened at $146.32 on Monday. PepsiCo, Inc. has a 52-week low of $127.60 and a 52-week high of $160.15. The firm has a 50-day moving average price of $145.62 and a 200 day moving average price of $144.73. The stock has a market capitalization of $200.07 billion, a P/E ratio of 27.82, a P/E/G ratio of 4.79 and a beta of 0.42. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Investors of record on Friday, December 5th were paid a $1.4225 dividend. This represents a $5.69 annualized dividend and a yield of 3.9%. The ex-dividend date was Friday, December 5th. PepsiCo’s dividend payout ratio is presently 108.17%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Piper Sandler boosted their price objective on shares of PepsiCo from $161.00 to $172.00 and gave the company an “overweight” rating in a report on Tuesday, December 9th. BNP Paribas Exane raised shares of PepsiCo from a “neutral” rating to an “outperform” rating and set a $179.00 price objective for the company in a research report on Friday. Evercore ISI upped their price target on PepsiCo from $150.00 to $152.00 in a research note on Friday, October 10th. Loop Capital set a $164.00 price objective on PepsiCo in a research note on Thursday, October 23rd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of PepsiCo in a report on Friday, January 9th. Ten investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $161.32.

About PepsiCo

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.