Oxler Private Wealth LLC Trims Stake in PepsiCo, Inc. $PEP

Oxler Private Wealth LLC lessened its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 76.3% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,273 shares of the company’s stock after selling 10,525 shares during the period. Oxler Private Wealth LLC’s holdings in PepsiCo were worth $460,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PEP. Claris Advisors LLC MO lifted its holdings in PepsiCo by 14.1% in the second quarter. Claris Advisors LLC MO now owns 2,490 shares of the company’s stock valued at $329,000 after acquiring an additional 308 shares during the period. Merit Financial Group LLC lifted its stake in shares of PepsiCo by 46.4% in the 2nd quarter. Merit Financial Group LLC now owns 114,344 shares of the company’s stock worth $15,098,000 after purchasing an additional 36,239 shares during the period. Clayton Financial Group LLC purchased a new position in shares of PepsiCo in the third quarter worth approximately $872,000. Naples Global Advisors LLC grew its position in PepsiCo by 2.3% during the second quarter. Naples Global Advisors LLC now owns 26,270 shares of the company’s stock valued at $3,469,000 after buying an additional 592 shares during the period. Finally, Avantax Advisory Services Inc. raised its position in PepsiCo by 2.6% in the second quarter. Avantax Advisory Services Inc. now owns 185,961 shares of the company’s stock worth $24,554,000 after acquiring an additional 4,627 shares during the period. 73.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PEP. Loop Capital set a $164.00 target price on PepsiCo in a research report on Thursday, October 23rd. DZ Bank upgraded PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 price objective for the company in a research note on Tuesday, October 21st. Rothschild & Co Redburn raised their target price on shares of PepsiCo from $117.00 to $120.00 and gave the stock a “sell” rating in a research note on Monday, December 15th. Wells Fargo & Company increased their price objective on shares of PepsiCo from $150.00 to $154.00 and gave the stock a “positive” rating in a research note on Friday, October 10th. Finally, Exane BNP Paribas raised PepsiCo from a “hold” rating to a “strong-buy” rating in a report on Friday, January 16th. One 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 issued a Sell rating to the company. Based on data from MarketBeat.com, PepsiCo has a consensus rating of “Hold” and an average target price of $159.29.

PepsiCo Stock Up 0.2%

Shares of NASDAQ PEP opened at $149.05 on Wednesday. The stock has a market capitalization of $203.80 billion, a price-to-earnings ratio of 28.17, a P/E/G ratio of 4.78 and a beta of 0.42. 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’s 50-day moving average price is $145.71 and its 200-day moving average price is $145.28.

PepsiCo Dividend Announcement

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