Apexium Financial LP Grows Stake in PepsiCo, Inc. (NASDAQ:PEP)

Apexium Financial LP boosted its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 152.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,473 shares of the company’s stock after purchasing an additional 2,702 shares during the quarter. Apexium Financial LP’s holdings in PepsiCo were worth $686,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its position in PepsiCo by 17,113.0% in the third quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock valued at $547,626,000 after acquiring an additional 3,201,676 shares during the last quarter. State Street Corp lifted its holdings in shares of PepsiCo by 5.1% in the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock valued at $9,738,429,000 after purchasing an additional 2,775,679 shares during the last quarter. Franklin Resources Inc. grew its stake in PepsiCo by 21.1% during the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock worth $2,293,049,000 after buying an additional 2,264,445 shares during the last quarter. Swedbank AB increased its position in PepsiCo by 211.4% during the third quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock worth $398,847,000 after buying an additional 1,592,343 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in PepsiCo by 5.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock valued at $3,632,413,000 after buying an additional 1,125,059 shares during the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Stock Up 0.3 %

PEP stock opened at $149.12 on Monday. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The company’s 50-day moving average price is $153.88 and its 200 day moving average price is $165.34. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41. The company has a market cap of $204.59 billion, a P/E ratio of 21.99, a P/E/G ratio of 2.86 and a beta of 0.54.

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 issued a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date of this dividend was Friday, December 6th. PepsiCo’s dividend payout ratio is currently 79.94%.

Analysts Set New Price Targets

A number of brokerages have recently commented on PEP. Wells Fargo & Company cut their target price on shares of PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Bank of America dropped their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Piper Sandler initiated coverage on PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price objective for the company. Finally, Barclays dropped their target price on PepsiCo from $183.00 to $158.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $177.00.

PepsiCo 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.