AE Wealth Management LLC Has $34.05 Million Stake in PepsiCo, Inc. $PEP

AE Wealth Management LLC grew its position in PepsiCo, Inc. (NASDAQ:PEP) by 16.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 242,439 shares of the company’s stock after buying an additional 34,154 shares during the quarter. AE Wealth Management LLC’s holdings in PepsiCo were worth $34,048,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Merit Financial Group LLC increased its stake in PepsiCo by 46.4% during the 2nd quarter. Merit Financial Group LLC now owns 114,344 shares of the company’s stock valued at $15,098,000 after purchasing an additional 36,239 shares in the last quarter. Clayton Financial Group LLC bought a new stake in shares of PepsiCo during the third quarter worth about $872,000. Naples Global Advisors LLC raised its holdings in shares of PepsiCo by 2.3% in the 2nd quarter. Naples Global Advisors LLC now owns 26,270 shares of the company’s stock worth $3,469,000 after acquiring an additional 592 shares during the last quarter. Avantax Advisory Services Inc. boosted its stake in PepsiCo by 2.6% during the 2nd quarter. Avantax Advisory Services Inc. now owns 185,961 shares of the company’s stock valued at $24,554,000 after purchasing an additional 4,627 shares during the last quarter. Finally, Concord Asset Management LLC VA increased its holdings in PepsiCo by 29.4% during the 2nd quarter. Concord Asset Management LLC VA now owns 8,880 shares of the company’s stock worth $1,172,000 after purchasing an additional 2,016 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PEP. Evercore ISI raised their target price on PepsiCo from $150.00 to $152.00 in a report on Friday, October 10th. Jefferies Financial Group raised their price objective on PepsiCo from $163.00 to $164.00 and gave the company a “hold” rating in a research note on Tuesday, December 9th. Exane BNP Paribas upgraded shares of 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 shares of PepsiCo from $172.00 to $170.00 and set a “buy” rating on the stock in a research report on Wednesday, January 14th. Finally, DZ Bank raised shares of PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 price objective for the company in a research report on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $159.29.

PepsiCo Price Performance

PepsiCo stock opened at $148.50 on Thursday. The business’s 50 day simple moving average is $145.74 and its 200 day simple moving average is $145.30. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $160.15. The company has a market cap of $203.05 billion, a price-to-earnings ratio of 28.23, a PEG ratio of 4.89 and a beta of 0.42. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 6th. Investors of record on Friday, December 5th were issued a $1.4225 dividend. The ex-dividend date of this dividend was Friday, December 5th. This represents a $5.69 annualized dividend and a yield of 3.8%. PepsiCo’s dividend payout ratio (DPR) 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.