Fulton Breakefield Broenniman LLC Decreases Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Fulton Breakefield Broenniman LLC decreased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 87,538 shares of the company’s stock after selling 2,408 shares during the period. Fulton Breakefield Broenniman LLC’s holdings in PepsiCo were worth $13,311,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Empowered Funds LLC lifted its stake in shares of PepsiCo by 9.2% in the third quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock worth $16,968,000 after buying an additional 8,406 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of PepsiCo by 104.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,705,574 shares of the company’s stock valued at $259,350,000 after buying an additional 870,451 shares during the period. Hudson Valley Investment Advisors Inc. ADV lifted its holdings in shares of PepsiCo by 12.8% during the 4th quarter. Hudson Valley Investment Advisors Inc. ADV now owns 41,580 shares of the company’s stock valued at $6,323,000 after buying an additional 4,712 shares during the period. Janus Henderson Group PLC raised its holdings in PepsiCo by 11.0% in the 3rd quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock worth $59,549,000 after purchasing an additional 34,633 shares during the period. Finally, IHT Wealth Management LLC raised its holdings in PepsiCo by 19.3% in the 3rd quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock worth $5,493,000 after purchasing an additional 5,220 shares during the period. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

Shares of NASDAQ:PEP opened at $150.25 on Wednesday. The company has a market capitalization of $206.14 billion, a price-to-earnings ratio of 22.16, a price-to-earnings-growth ratio of 2.86 and a beta of 0.54. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The firm has a 50 day moving average of $153.81 and a 200 day moving average of $165.28.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were issued a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.61%. The ex-dividend date was Friday, December 6th. PepsiCo’s dividend payout ratio is currently 79.94%.

Analyst Upgrades and Downgrades

PEP has been the topic of a number of recent research reports. TD Cowen decreased their target price on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Piper Sandler initiated coverage on PepsiCo in a report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price target on the stock. Hsbc Global Res raised PepsiCo to a “hold” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft cut their price objective on PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a research report on Wednesday, January 22nd. Finally, Royal Bank of Canada cut their price objective on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $177.00.

PepsiCo Company Profile

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.