PepsiCo, Inc. $PEP Shares Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. boosted its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 3.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,246,222 shares of the company’s stock after purchasing an additional 39,311 shares during the period. PepsiCo comprises 0.5% of Mirae Asset Global Investments Co. Ltd.’s portfolio, making the stock its 27th largest position. Mirae Asset Global Investments Co. Ltd.’s holdings in PepsiCo were worth $175,019,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Evolution Wealth Management Inc. acquired a new stake in shares of PepsiCo during the second quarter worth approximately $27,000. JCIC Asset Management Inc. bought a new stake in shares of PepsiCo in the 3rd quarter worth about $27,000. Vermillion & White Wealth Management Group LLC raised its stake in shares of PepsiCo by 107.1% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 234 shares of the company’s stock valued at $31,000 after purchasing an additional 121 shares in the last quarter. Halbert Hargrove Global Advisors LLC lifted its position in shares of PepsiCo by 667.7% during the third quarter. Halbert Hargrove Global Advisors LLC now owns 238 shares of the company’s stock worth $33,000 after purchasing an additional 207 shares during the last quarter. Finally, Frazier Financial Advisors LLC grew its stake in PepsiCo by 85.3% in the second quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock worth $35,000 after purchasing an additional 122 shares in the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Trading Up 0.5%

Shares of NASDAQ:PEP opened at $149.51 on Wednesday. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26. The company’s 50-day moving average price is $145.71 and its 200 day moving average price is $145.28. The company has a market cap of $204.43 billion, a PE ratio of 28.38, a P/E/G ratio of 4.78 and a beta of 0.42. PepsiCo, Inc. has a fifty-two week low of $127.60 and a fifty-two week high of $160.15.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 6th. Stockholders of record on Friday, December 5th were given a dividend of $1.4225 per share. The ex-dividend date was Friday, December 5th. This represents a $5.69 annualized dividend and a dividend yield of 3.8%. PepsiCo’s payout ratio is currently 108.17%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. BNP Paribas Exane raised PepsiCo from a “hold” rating to an “outperform” rating and set a $179.00 target price on the stock in a report on Friday, January 16th. UBS Group decreased their price objective on shares of PepsiCo from $172.00 to $170.00 and set a “buy” rating for the company in a report on Wednesday, January 14th. The Goldman Sachs Group increased their target price on shares of PepsiCo from $165.00 to $167.00 and gave the stock a “buy” rating in a report on Friday, October 10th. HSBC lifted their price target on shares of PepsiCo from $145.00 to $152.00 and gave the company a “hold” rating in a report on Friday, October 10th. Finally, Piper Sandler increased their price objective on shares of PepsiCo from $161.00 to $172.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 9th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, PepsiCo has a consensus rating of “Hold” and an average price target of $159.29.

PepsiCo 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.