Empirical Asset Management LLC Purchases 124 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Empirical Asset Management LLC raised its position in PepsiCo, Inc. (NASDAQ:PEP) by 0.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,939 shares of the company’s stock after acquiring an additional 124 shares during the period. Empirical Asset Management LLC’s holdings in PepsiCo were worth $5,313,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC grew its position in PepsiCo by 17,113.0% during the 3rd quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock worth $547,626,000 after purchasing an additional 3,201,676 shares during the last quarter. State Street Corp lifted its stake in shares of PepsiCo by 5.1% during the third quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after buying an additional 2,775,679 shares during the period. 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. Swedbank AB increased its position in shares of PepsiCo by 211.4% in the 3rd quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock valued at $398,847,000 after acquiring an additional 1,592,343 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in PepsiCo by 5.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock worth $3,632,413,000 after acquiring an additional 1,125,059 shares during the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PEP has been the topic of a number of research reports. Bank of America cut their price objective on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Piper Sandler began coverage on shares of PepsiCo in a report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price target on the stock. Royal Bank of Canada decreased their price objective on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research note on Friday, October 4th. Morgan Stanley cut shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price for the company. in a report on Friday, September 20th. Finally, Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $180.27.

PepsiCo Stock Up 1.2 %

PepsiCo stock opened at $146.58 on Friday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. The stock has a market capitalization of $201.11 billion, a PE ratio of 21.62, a price-to-earnings-growth ratio of 2.57 and a beta of 0.54. The business has a 50 day simple moving average of $156.06 and a 200-day simple moving average of $166.05. PepsiCo, Inc. has a 12 month low of $141.51 and a 12 month high of $183.41.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were given a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date was Friday, December 6th. PepsiCo’s dividend payout ratio is presently 79.94%.

About PepsiCo

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.