PepsiCo, Inc. $PEP Shares Sold by OneAscent Financial Services LLC

OneAscent Financial Services LLC cut its stake in PepsiCo, Inc. (NASDAQ:PEP) by 61.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,495 shares of the company’s stock after selling 3,986 shares during the period. OneAscent Financial Services LLC’s holdings in PepsiCo were worth $350,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of PepsiCo in the second quarter valued at about $2,330,594,000. Laurel Wealth Advisors LLC boosted its holdings in PepsiCo by 14,420.2% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 3,890,688 shares of the company’s stock valued at $513,726,000 after purchasing an additional 3,863,893 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of PepsiCo by 9.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 29,031,404 shares of the company’s stock valued at $3,833,406,000 after buying an additional 2,556,163 shares during the period. Franklin Resources Inc. increased its holdings in shares of PepsiCo by 19.5% during the 2nd quarter. Franklin Resources Inc. now owns 15,577,073 shares of the company’s stock worth $2,056,797,000 after buying an additional 2,541,455 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in PepsiCo by 112.6% in the second quarter. First Trust Advisors LP now owns 4,040,079 shares of the company’s stock valued at $533,452,000 after acquiring an additional 2,139,847 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Jefferies Financial Group lifted their price objective on shares of PepsiCo from $163.00 to $164.00 and gave the company a “hold” rating in a report on Tuesday, December 9th. UBS Group lowered their target price on shares of PepsiCo from $172.00 to $170.00 and set a “buy” rating for the company in a research note on Wednesday, January 14th. JPMorgan Chase & Co. upgraded PepsiCo from a “neutral” rating to an “overweight” rating and raised their price target for the company from $151.00 to $164.00 in a research note on Wednesday, December 10th. Wall Street Zen cut PepsiCo from a “buy” rating to a “hold” rating in a research report on Saturday, December 27th. Finally, Exane BNP Paribas raised PepsiCo from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 16th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $159.29.

PepsiCo Trading Up 2.0%

Shares of PepsiCo stock opened at $148.78 on Wednesday. The firm has a market cap of $203.43 billion, a price-to-earnings ratio of 28.29, a price-to-earnings-growth ratio of 4.78 and a beta of 0.42. PepsiCo, Inc. has a 52-week low of $127.60 and a 52-week high of $160.15. The company’s 50-day simple moving average is $145.71 and its 200-day simple moving average is $145.28. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Stockholders of record on Friday, December 5th were paid a dividend of $1.4225 per share. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Friday, December 5th. PepsiCo’s dividend payout ratio 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.