Coastal Bridge Advisors LLC Grows Stake in PepsiCo, Inc. $PEP

Coastal Bridge Advisors LLC increased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 15.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 40,355 shares of the company’s stock after purchasing an additional 5,529 shares during the period. Coastal Bridge Advisors LLC’s holdings in PepsiCo were worth $5,668,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the company. JCIC Asset Management Inc. acquired a new position in PepsiCo in the 3rd quarter valued at $27,000. Evolution Wealth Management Inc. purchased a new stake in shares of PepsiCo during the second quarter worth $27,000. Vermillion & White Wealth Management Group LLC raised its position in shares of PepsiCo by 107.1% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 234 shares of the company’s stock valued at $31,000 after buying an additional 121 shares during the last quarter. Halbert Hargrove Global Advisors LLC lifted its stake in shares of PepsiCo by 667.7% in the third quarter. Halbert Hargrove Global Advisors LLC now owns 238 shares of the company’s stock worth $33,000 after buying an additional 207 shares in the last quarter. Finally, Frazier Financial Advisors LLC boosted its position in PepsiCo by 85.3% during the second quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock worth $35,000 after acquiring an additional 122 shares during the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Exane BNP Paribas upgraded shares of PepsiCo from a “hold” rating to a “strong-buy” rating in a report on Friday, January 16th. HSBC boosted their price objective on PepsiCo from $145.00 to $152.00 and gave the stock a “hold” rating in a research note on Friday, October 10th. Barclays set a $148.00 target price on PepsiCo in a research note on Friday, January 16th. Loop Capital set a $164.00 price target on shares of PepsiCo in a research report on Thursday, October 23rd. Finally, JPMorgan Chase & Co. upgraded shares of PepsiCo from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $151.00 to $164.00 in a research report on Wednesday, December 10th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, PepsiCo currently has an average rating of “Hold” and a consensus price target of $159.29.

PepsiCo Stock Down 0.2%

Shares of PEP opened at $148.50 on Thursday. The company’s 50-day moving average price is $145.74 and its 200 day moving average price is $145.30. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $160.15. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26. The firm has a market cap of $203.05 billion, a P/E ratio of 28.23, a price-to-earnings-growth ratio of 4.89 and a beta of 0.42.

PepsiCo Dividend Announcement

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

About PepsiCo

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.