Federated Hermes Inc. Acquires 240,593 Shares of PepsiCo, Inc. $PEP

Federated Hermes Inc. grew its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 10.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,607,881 shares of the company’s stock after buying an additional 240,593 shares during the quarter. PepsiCo makes up 0.6% of Federated Hermes Inc.’s portfolio, making the stock its 29th largest position. Federated Hermes Inc. owned about 0.19% of PepsiCo worth $366,251,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Brighton Jones LLC grew 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 valued at $9,031,000 after buying an additional 6,574 shares in the last quarter. Caxton Associates LLP acquired a new stake in PepsiCo in the first quarter valued at $251,000. Sivia Capital Partners LLC grew its position in shares of PepsiCo by 138.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 6,527 shares of the company’s stock valued at $862,000 after acquiring an additional 3,790 shares during the period. Smith Anglin Financial LLC increased its stake in shares of PepsiCo by 1.7% during the 2nd quarter. Smith Anglin Financial LLC now owns 7,859 shares of the company’s stock worth $1,038,000 after purchasing an additional 128 shares during the last quarter. Finally, Claris Advisors LLC MO raised its holdings in shares of PepsiCo by 14.1% in the 2nd quarter. Claris Advisors LLC MO now owns 2,490 shares of the company’s stock valued at $329,000 after purchasing an additional 308 shares during the period. Institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

PEP has been the topic of a number of recent analyst reports. Evercore ISI boosted their price target on PepsiCo from $150.00 to $152.00 in a research report on Friday, October 10th. UBS Group reduced their target price on PepsiCo from $172.00 to $170.00 and set a “buy” rating for the company in a research note on Wednesday, January 14th. Piper Sandler increased their price target on PepsiCo from $161.00 to $172.00 and gave the company an “overweight” rating in a research note on Tuesday, December 9th. HSBC lifted their price objective on shares of PepsiCo from $145.00 to $152.00 and gave the stock a “hold” rating in a research report on Friday, October 10th. Finally, Jefferies Financial Group increased their price objective on shares of PepsiCo from $163.00 to $164.00 and gave the company a “hold” rating in a research report on Tuesday, December 9th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $159.29.

PepsiCo Stock Up 2.0%

PEP opened at $148.78 on Wednesday. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.72 and a current ratio of 0.91. The stock has a fifty day moving average of $145.71 and a 200-day moving average of $145.28. PepsiCo, Inc. has a fifty-two week low of $127.60 and a fifty-two week high of $160.15. The company has a market capitalization of $203.43 billion, a P/E ratio of 28.29, a P/E/G ratio of 4.78 and a beta of 0.42.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Shareholders of record on Friday, December 5th were given a dividend of $1.4225 per share. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Friday, December 5th. PepsiCo’s dividend payout ratio is presently 108.17%.

PepsiCo Company Profile

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.