QRG Capital Management Inc. Sells 13,395 Shares of PepsiCo, Inc. $PEP

QRG Capital Management Inc. lessened its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 8.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 154,735 shares of the company’s stock after selling 13,395 shares during the period. QRG Capital Management Inc.’s holdings in PepsiCo were worth $21,731,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. Three Bridge Wealth Advisors LLC boosted its holdings in shares of PepsiCo by 1.8% in the third quarter. Three Bridge Wealth Advisors LLC now owns 3,870 shares of the company’s stock valued at $544,000 after purchasing an additional 68 shares during the period. JSF Financial LLC raised its position in PepsiCo by 3.8% during the 2nd quarter. JSF Financial LLC now owns 1,897 shares of the company’s stock valued at $250,000 after purchasing an additional 69 shares in the last quarter. Hudock Inc. lifted its holdings in shares of PepsiCo by 1.0% in the 3rd quarter. Hudock Inc. now owns 7,079 shares of the company’s stock worth $994,000 after buying an additional 70 shares during the period. Binnacle Investments Inc raised its holdings in shares of PepsiCo by 33.2% in the second quarter. Binnacle Investments Inc now owns 285 shares of the company’s stock valued at $38,000 after acquiring an additional 71 shares in the last quarter. Finally, Dogwood Wealth Management LLC grew its holdings in PepsiCo by 15.4% during the 2nd quarter. Dogwood Wealth Management LLC now owns 539 shares of the company’s stock worth $73,000 after acquiring an additional 72 shares in the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PEP. Piper Sandler boosted their price target on PepsiCo from $161.00 to $172.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 9th. Loop Capital set a $164.00 target price on PepsiCo in a research report on Thursday, October 23rd. Barclays set a $148.00 price target on PepsiCo in a research report on Friday. Wells Fargo & Company increased their price objective on PepsiCo from $150.00 to $154.00 and gave the company a “positive” rating in a report on Friday, October 10th. Finally, Jefferies Financial Group upped their target price on PepsiCo from $163.00 to $164.00 and gave the company a “hold” rating in a research report on Tuesday, December 9th. Ten research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, PepsiCo has a consensus rating of “Hold” and an average target price of $161.32.

PepsiCo Stock Performance

Shares of PEP stock opened at $146.32 on Friday. The company has a market capitalization of $200.07 billion, a P/E ratio of 27.82, a P/E/G ratio of 4.80 and a beta of 0.42. The business’s 50 day moving average is $145.62 and its two-hundred day moving average is $144.61. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $160.15. 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 company also recently declared a quarterly dividend, which was paid on Tuesday, January 6th. Stockholders of record on Friday, December 5th were given a dividend of $1.4225 per share. This represents a $5.69 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Friday, December 5th. PepsiCo’s payout ratio is presently 108.17%.

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.