Farther Finance Advisors LLC Acquires 6,653 Shares of PepsiCo, Inc. $PEP

Farther Finance Advisors LLC boosted its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 17.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,916 shares of the company’s stock after purchasing an additional 6,653 shares during the quarter. Farther Finance Advisors LLC’s holdings in PepsiCo were worth $6,168,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of PEP. Claris Advisors LLC MO grew its stake in shares of PepsiCo by 14.1% in the 2nd quarter. Claris Advisors LLC MO now owns 2,490 shares of the company’s stock worth $329,000 after buying an additional 308 shares in the last quarter. Foster Group Inc. grew its position in PepsiCo by 4.6% in the second quarter. Foster Group Inc. now owns 5,169 shares of the company’s stock worth $683,000 after acquiring an additional 229 shares in the last quarter. Merit Financial Group LLC increased its stake in PepsiCo by 46.4% during the second quarter. Merit Financial Group LLC now owns 114,344 shares of the company’s stock worth $15,098,000 after acquiring an additional 36,239 shares during the last quarter. Fulton Bank N.A. lifted its stake in shares of PepsiCo by 2.5% in the 2nd quarter. Fulton Bank N.A. now owns 25,309 shares of the company’s stock valued at $3,342,000 after purchasing an additional 620 shares during the last quarter. Finally, Naples Global Advisors LLC grew its holdings in PepsiCo by 2.3% during the 2nd quarter. Naples Global Advisors LLC now owns 26,270 shares of the company’s stock valued at $3,469,000 after purchasing an additional 592 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

PEP has been the subject of several recent analyst reports. JPMorgan Chase & Co. upgraded PepsiCo from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $151.00 to $164.00 in a research report on Wednesday, December 10th. Citigroup raised their price target on PepsiCo from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, December 17th. Piper Sandler upped their price objective on PepsiCo from $161.00 to $172.00 and gave the company an “overweight” rating in a research report on Tuesday, December 9th. Wells Fargo & Company lifted their target price on PepsiCo from $150.00 to $154.00 and gave the stock a “positive” rating in a research report on Friday, October 10th. Finally, Jefferies Financial Group boosted their target price on shares of PepsiCo from $163.00 to $164.00 and gave the company a “hold” rating in a research note on Tuesday, December 9th. Eight equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, PepsiCo presently has a consensus rating of “Hold” and an average price target of $158.75.

PepsiCo Price Performance

PEP opened at $143.68 on Wednesday. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26. The business’s fifty day simple moving average is $147.80 and its 200-day simple moving average is $143.23. The company has a market capitalization of $196.46 billion, a price-to-earnings ratio of 27.32, a PEG ratio of 5.07 and a beta of 0.42. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $160.15.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Wednesday, October 8th. The company reported $2.29 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.03. The company had revenue of $23.94 billion during the quarter, compared to analyst estimates of $23.91 billion. PepsiCo had a net margin of 7.82% and a return on equity of 57.58%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.31 earnings per share. On average, equities research analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Friday, December 5th will be paid a $1.4225 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $5.69 dividend on an annualized basis and a yield of 4.0%. PepsiCo’s payout ratio is 108.17%.

PepsiCo Company 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.