Hussman Strategic Advisors Inc. Sells 4,200 Shares of PepsiCo, Inc. $PEP

Hussman Strategic Advisors Inc. trimmed its position in PepsiCo, Inc. (NASDAQ:PEP) by 16.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,000 shares of the company’s stock after selling 4,200 shares during the period. Hussman Strategic Advisors Inc.’s holdings in PepsiCo were worth $2,949,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PEP. Three Bridge Wealth Advisors LLC increased its position in PepsiCo by 1.8% during the 3rd quarter. Three Bridge Wealth Advisors LLC now owns 3,870 shares of the company’s stock valued at $544,000 after buying an additional 68 shares in the last quarter. JSF Financial LLC grew its stake in shares of PepsiCo by 3.8% during the second quarter. JSF Financial LLC now owns 1,897 shares of the company’s stock worth $250,000 after acquiring an additional 69 shares during the last quarter. Facet Wealth Inc. raised its position in shares of PepsiCo by 3.2% in the 3rd quarter. Facet Wealth Inc. now owns 2,221 shares of the company’s stock valued at $312,000 after purchasing an additional 69 shares during the last quarter. Hudock Inc. boosted its stake in PepsiCo by 1.0% in the 3rd quarter. Hudock Inc. now owns 7,079 shares of the company’s stock worth $994,000 after purchasing an additional 70 shares in the last quarter. Finally, Binnacle Investments Inc boosted its stake in PepsiCo by 33.2% in the 2nd quarter. Binnacle Investments Inc now owns 285 shares of the company’s stock worth $38,000 after purchasing an additional 71 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Up 2.0%

Shares of PEP opened at $148.78 on Wednesday. The company has a market capitalization of $203.43 billion, a price-to-earnings ratio of 28.29, a PEG ratio of 4.78 and a beta of 0.42. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $160.15. The stock’s 50-day moving average price is $145.71 and its 200-day moving average price is $145.28. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26.

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Stockholders of record on Friday, December 5th were issued a dividend of $1.4225 per share. This represents a $5.69 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Friday, December 5th. PepsiCo’s payout ratio is 108.17%.

Analysts Set New Price Targets

PEP has been the topic of a number of recent analyst reports. Piper Sandler upped their price target on shares of PepsiCo from $161.00 to $172.00 and gave the company an “overweight” rating in a research note on Tuesday, December 9th. Exane BNP Paribas upgraded PepsiCo from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 16th. UBS Group dropped their price target on PepsiCo from $172.00 to $170.00 and set a “buy” rating on the stock in a research note on Wednesday, January 14th. Wells Fargo & Company raised their price objective on PepsiCo from $150.00 to $154.00 and gave the stock a “positive” rating in a research note on Friday, October 10th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of PepsiCo in a research report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $159.29.

About PepsiCo

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.