Granite Group Advisors LLC Has $1.78 Million Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Granite Group Advisors LLC boosted its stake in PepsiCo, Inc. (NASDAQ:PEP) by 99.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,703 shares of the company’s stock after purchasing an additional 5,850 shares during the quarter. PepsiCo comprises about 1.1% of Granite Group Advisors LLC’s holdings, making the stock its 23rd biggest position. Granite Group Advisors LLC’s holdings in PepsiCo were worth $1,780,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the stock. State Street Corp grew its holdings in PepsiCo by 5.1% in the third quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after purchasing an additional 2,775,679 shares during the period. Geode Capital Management LLC grew its holdings in PepsiCo by 1.8% in the third quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock worth $5,170,529,000 after purchasing an additional 543,558 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of PepsiCo by 5.6% during 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. Franklin Resources Inc. grew its holdings in shares of PepsiCo by 21.1% during the third quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock valued at $2,293,049,000 after buying an additional 2,264,445 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of PepsiCo by 2.7% during the third quarter. Wellington Management Group LLP now owns 12,098,551 shares of the company’s stock valued at $2,057,359,000 after buying an additional 313,468 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Stock Performance

Shares of PEP stock opened at $149.12 on Monday. The firm’s 50-day simple moving average is $153.88 and its two-hundred day simple moving average 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 debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The firm has a market cap of $204.59 billion, a price-to-earnings ratio of 21.99, a P/E/G ratio of 2.86 and a beta of 0.54.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were given a $1.355 dividend. This represents a $5.42 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend was Friday, December 6th. PepsiCo’s dividend payout ratio (DPR) is currently 79.94%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PEP. Royal Bank of Canada reduced their price objective on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. Wells Fargo & Company reduced their price objective on shares of PepsiCo from $170.00 to $155.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Barclays reduced their price objective on shares of PepsiCo from $183.00 to $158.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Piper Sandler started coverage on shares of PepsiCo in a report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company 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.