Blue Trust Inc. Acquires 5,844 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Blue Trust Inc. grew its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 16.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,446 shares of the company’s stock after purchasing an additional 5,844 shares during the quarter. Blue Trust Inc.’s holdings in PepsiCo were worth $6,302,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Global Wealth Strategies & Associates grew its position in shares of PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares during the last quarter. Cross Staff Investments Inc boosted its stake in PepsiCo by 0.9% during the 3rd quarter. Cross Staff Investments Inc now owns 7,080 shares of the company’s stock valued at $1,204,000 after purchasing an additional 60 shares during the period. Paulson Wealth Management Inc. grew its holdings in PepsiCo by 2.1% in the 3rd quarter. Paulson Wealth Management Inc. now owns 2,986 shares of the company’s stock valued at $508,000 after buying an additional 60 shares during the last quarter. LCM Capital Management Inc increased its position in PepsiCo by 0.8% in the 3rd quarter. LCM Capital Management Inc now owns 7,573 shares of the company’s stock worth $1,288,000 after buying an additional 62 shares during the period. Finally, Demars Financial Group LLC boosted its position in shares of PepsiCo by 1.1% in the third quarter. Demars Financial Group LLC now owns 5,721 shares of the company’s stock valued at $973,000 after acquiring an additional 62 shares during the period. Institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on PEP shares. JPMorgan Chase & Co. dropped their target price on shares of PepsiCo from $183.00 to $165.00 and set a “neutral” rating on the stock in a research report on Friday. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Royal Bank of Canada cut 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 report on Friday, October 4th. Barclays cut their price objective on shares of PepsiCo from $183.00 to $158.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Finally, Piper Sandler initiated coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price objective for the company. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $177.00.

PepsiCo Price Performance

PEP opened at $149.12 on Monday. PepsiCo, Inc. has a one year low of $141.51 and a one year high of $183.41. 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 company’s 50 day simple moving average is $153.88 and its 200-day simple moving average is $165.34. The stock has a market capitalization of $204.59 billion, a P/E ratio of 21.99, a price-to-earnings-growth ratio of 2.86 and a beta of 0.54.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were paid a $1.355 dividend. The ex-dividend date was Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.63%. PepsiCo’s 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.