Sheets Smith Wealth Management Buys 703 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Sheets Smith Wealth Management increased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 57,773 shares of the company’s stock after purchasing an additional 703 shares during the period. PepsiCo makes up 1.1% of Sheets Smith Wealth Management’s portfolio, making the stock its 21st largest holding. Sheets Smith Wealth Management’s holdings in PepsiCo were worth $8,785,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans grew its holdings in shares of PepsiCo by 8.5% during the second quarter. Thrivent Financial for Lutherans now owns 121,512 shares of the company’s stock worth $20,040,000 after buying an additional 9,567 shares in the last quarter. Certified Advisory Corp lifted its position in shares of PepsiCo by 4.0% during the 2nd quarter. Certified Advisory Corp now owns 2,117 shares of the company’s stock worth $349,000 after purchasing an additional 82 shares during the last quarter. Public Sector Pension Investment Board increased its stake in PepsiCo by 73.2% in the second quarter. Public Sector Pension Investment Board now owns 52,836 shares of the company’s stock valued at $8,714,000 after purchasing an additional 22,339 shares during the last quarter. Resources Management Corp CT ADV grew its holdings in shares of PepsiCo by 0.7% during the second quarter. Resources Management Corp CT ADV now owns 73,611 shares of the company’s stock worth $12,141,000 after purchasing an additional 521 shares during the last quarter. Finally, Mill Creek Capital Advisors LLC grew its position in PepsiCo by 7.7% during the 2nd quarter. Mill Creek Capital Advisors LLC now owns 9,252 shares of the company’s stock worth $1,526,000 after purchasing an additional 658 shares during the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Stock Up 0.2 %

Shares of PepsiCo stock opened at $148.55 on Wednesday. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The company has a market cap of $203.81 billion, a price-to-earnings ratio of 21.91, a price-to-earnings-growth ratio of 2.74 and a beta of 0.54. The company’s 50 day moving average is $155.05 and its 200 day moving average is $165.76. PepsiCo, Inc. has a twelve month low of $141.51 and a twelve month high of $183.41.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were paid a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date of this dividend was Friday, December 6th. PepsiCo’s payout ratio is presently 79.94%.

Analyst Ratings Changes

PEP has been the topic of several research analyst reports. Piper Sandler started coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 target price on the stock. JPMorgan Chase & Co. reduced their price objective on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. TD Cowen reduced their price objective on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft raised PepsiCo from a “hold” rating to a “buy” rating and increased their price target for the stock from $179.00 to $184.00 in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $178.60.

PepsiCo Company Profile

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.