Synergy Asset Management LLC Takes Position in PepsiCo, Inc. (NASDAQ:PEP)

Synergy Asset Management LLC bought a new stake in shares of PepsiCo, Inc. (NASDAQ:PEP) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,049 shares of the company’s stock, valued at approximately $160,000.

Several other hedge funds have also bought and sold shares of the stock. State Street Corp raised its position in shares of PepsiCo by 5.1% during the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock valued at $9,738,429,000 after purchasing an additional 2,775,679 shares during the period. Geode Capital Management LLC raised its holdings in PepsiCo by 1.8% during the third quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock valued at $5,170,529,000 after acquiring an additional 543,558 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of PepsiCo by 5.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock valued at $3,632,413,000 after acquiring an additional 1,125,059 shares in the last quarter. Franklin Resources Inc. grew its position in shares of PepsiCo by 21.1% during the third quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock worth $2,293,049,000 after purchasing an additional 2,264,445 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in PepsiCo by 2.7% during the 3rd quarter. Wellington Management Group LLP now owns 12,098,551 shares of the company’s stock valued at $2,057,359,000 after purchasing an additional 313,468 shares during the period. Institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Up 1.0 %

Shares of NASDAQ:PEP opened at $151.90 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The company has a market capitalization of $208.41 billion, a PE ratio of 22.40, a P/E/G ratio of 2.91 and a beta of 0.54. PepsiCo, Inc. has a 12-month low of $141.51 and a 12-month high of $183.41. The business’s fifty day simple moving average is $153.51 and its 200-day simple moving average is $165.07.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were given 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 was Friday, December 6th. PepsiCo’s payout ratio is 79.94%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on PEP shares. Barclays cut their price target on PepsiCo from $183.00 to $158.00 and set an “overweight” rating for the company in a report on Friday, January 17th. TD Cowen decreased their price target on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Piper Sandler initiated coverage on shares of PepsiCo in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price objective for the company. JPMorgan Chase & Co. lowered their price target on shares of PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a report on Friday, January 24th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $172.00 target price on shares of PepsiCo in a research report on Wednesday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, PepsiCo presently has an average rating of “Hold” and an average price target of $176.73.

PepsiCo Company 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.