Vest Financial LLC Grows Position in PepsiCo, Inc. $PEP

Vest Financial LLC grew its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 404,684 shares of the company’s stock after purchasing an additional 8,988 shares during the quarter. Vest Financial LLC’s holdings in PepsiCo were worth $56,834,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. JCIC Asset Management Inc. bought a new position in shares of PepsiCo in the third quarter worth about $27,000. Evolution Wealth Management Inc. purchased a new stake in PepsiCo during the 2nd quarter valued at approximately $27,000. Legend Financial Advisors Inc. purchased a new position in shares of PepsiCo in the second quarter worth $29,000. Vermillion & White Wealth Management Group LLC boosted its position in shares of PepsiCo by 107.1% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 234 shares of the company’s stock worth $31,000 after acquiring an additional 121 shares during the last quarter. Finally, Halbert Hargrove Global Advisors LLC grew its stake in PepsiCo by 667.7% during the third quarter. Halbert Hargrove Global Advisors LLC now owns 238 shares of the company’s stock valued at $33,000 after acquiring an additional 207 shares in the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on PEP shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PepsiCo in a report on Friday, January 9th. Barclays set a $148.00 price objective on shares of PepsiCo in a research note on Friday. Piper Sandler upped their target price on shares of PepsiCo from $161.00 to $172.00 and gave the company an “overweight” rating in a research report on Tuesday, December 9th. DZ Bank upgraded PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 price objective on the stock in a research report on Tuesday, October 21st. Finally, Wells Fargo & Company lifted their target price on PepsiCo from $150.00 to $154.00 and gave the stock a “positive” rating in a report on Friday, October 10th. Ten investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $161.32.

PepsiCo Stock Performance

Shares of NASDAQ:PEP opened at $147.66 on Wednesday. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.72 and a current ratio of 0.91. The firm has a market cap of $201.90 billion, a PE ratio of 28.07, a price-to-earnings-growth ratio of 4.79 and a beta of 0.42. The firm’s 50 day simple moving average is $145.74 and its 200-day simple moving average is $144.89. PepsiCo, Inc. has a one year low of $127.60 and a one year high of $160.15.

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Shareholders of record on Friday, December 5th were issued a $1.4225 dividend. The ex-dividend date was Friday, December 5th. This represents a $5.69 dividend on an annualized basis and a yield of 3.9%. PepsiCo’s payout ratio is currently 108.17%.

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.