Fortune Financial Advisors LLC Acquires 273 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Fortune Financial Advisors LLC boosted its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 6.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,529 shares of the company’s stock after acquiring an additional 273 shares during the quarter. Fortune Financial Advisors LLC’s holdings in PepsiCo were worth $689,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Global Wealth Strategies & Associates lifted its holdings in shares of PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after buying an additional 59 shares during the period. Highline Wealth Partners LLC bought a new position in PepsiCo in the third quarter worth about $28,000. Legacy Investment Solutions LLC purchased a new stake in shares of PepsiCo during the third quarter valued at about $31,000. Mattson Financial Services LLC acquired a new stake in PepsiCo in the second quarter valued at approximately $34,000. Finally, Rakuten Securities Inc. grew its stake in PepsiCo by 93.2% during the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after buying an additional 96 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

NASDAQ:PEP opened at $151.90 on Friday. The company has a market cap of $208.41 billion, a P/E ratio of 22.40, a P/E/G ratio of 2.91 and a beta of 0.54. PepsiCo, Inc. has a twelve month low of $141.51 and a twelve month high of $183.41. The company’s 50-day moving average price is $153.51 and its 200-day moving average price is $165.07. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were issued a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.57%. The ex-dividend date of this dividend was Friday, December 6th. PepsiCo’s dividend payout ratio is currently 79.94%.

Analysts Set New Price Targets

PEP has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a research report on Wednesday, January 22nd. Royal Bank of Canada reissued a “sector perform” rating and set a $172.00 target price on shares of PepsiCo in a report on Wednesday. Piper Sandler initiated 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. UBS Group decreased their price objective on PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Finally, Barclays lowered their price target on shares of PepsiCo from $183.00 to $158.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, PepsiCo has a consensus rating of “Hold” and an average target price of $176.73.

PepsiCo 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.