AustralianSuper Pty Ltd Has $2.37 Million Stake in PepsiCo, Inc. $PEP

AustralianSuper Pty Ltd increased its stake in PepsiCo, Inc. (NASDAQ:PEP) by 53.6% in the third quarter, Holdings Channel.com reports. The firm owned 16,878 shares of the company’s stock after purchasing an additional 5,891 shares during the quarter. AustralianSuper Pty Ltd’s holdings in PepsiCo were worth $2,370,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC raised its position in PepsiCo by 12.4% in the 4th 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 during the last quarter. Caxton Associates LLP acquired a new stake in shares of PepsiCo in the first quarter valued at approximately $251,000. Sivia Capital Partners LLC lifted its position in shares of PepsiCo by 138.5% in the second quarter. Sivia Capital Partners LLC now owns 6,527 shares of the company’s stock worth $862,000 after purchasing an additional 3,790 shares in the last quarter. Precision Wealth Strategies LLC acquired a new position in PepsiCo during the second quarter worth $203,000. Finally, Vicus Capital grew its position in PepsiCo by 21.4% in the second quarter. Vicus Capital now owns 3,099 shares of the company’s stock valued at $409,000 after purchasing an additional 547 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Up 3.3%

PEP stock opened at $153.63 on Friday. The business’s 50 day simple moving average is $145.94 and its 200 day simple moving average is $145.45. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $160.15. The firm has a market capitalization of $210.06 billion, a PE ratio of 29.21, a PEG ratio of 4.89 and a beta of 0.42. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26.

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Investors of record on Friday, December 5th were issued a dividend of $1.4225 per share. The ex-dividend date of this dividend was Friday, December 5th. This represents a $5.69 annualized dividend and a dividend yield of 3.7%. PepsiCo’s payout ratio is presently 108.17%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on PEP shares. Loop Capital set a $164.00 price objective on shares of PepsiCo in a research note on Thursday, October 23rd. Piper Sandler increased their price target on PepsiCo from $161.00 to $172.00 and gave the company an “overweight” rating in a research report on Tuesday, December 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PepsiCo in a research report on Friday, January 9th. DZ Bank raised PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 price objective for the company in a report on Tuesday, October 21st. Finally, HSBC boosted their target price on shares of PepsiCo from $145.00 to $152.00 and gave the stock a “hold” rating in a report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, PepsiCo presently has a consensus rating of “Hold” and a consensus target price of $159.29.

PepsiCo 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.