McElhenny Sheffield Capital Management LLC Acquires 3,618 Shares of PepsiCo, Inc. (NASDAQ:PEP)

McElhenny Sheffield Capital Management LLC grew its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 43.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,900 shares of the company's stock after acquiring an additional 3,618 shares during the quarter. PepsiCo accounts for 0.6% of McElhenny Sheffield Capital Management LLC's portfolio, making the stock its 14th biggest holding. McElhenny Sheffield Capital Management LLC's holdings in PepsiCo were worth $1,810,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Global Wealth Strategies & Associates lifted its position in PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company's stock valued at $27,000 after acquiring an additional 59 shares in the last quarter. Highline Wealth Partners LLC purchased a new position in shares of PepsiCo in the third quarter worth $28,000. Legacy Investment Solutions LLC purchased a new stake in shares of PepsiCo during the third quarter valued at $31,000. Mattson Financial Services LLC bought a new stake in PepsiCo in the 2nd quarter worth about $34,000. Finally, Rakuten Securities Inc. raised its position in PepsiCo by 93.2% in the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company's stock worth $34,000 after buying an additional 96 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on PEP shares. Royal Bank of Canada reduced their price target on shares of PepsiCo from $177.00 to $176.00 and set a "sector perform" rating for the company in a research note on Friday, October 4th. Redburn Atlantic upgraded shares of PepsiCo to a "strong sell" rating in a research note on Thursday, October 10th. Wells Fargo & Company dropped their price target on PepsiCo from $170.00 to $155.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 7th. TD Cowen reduced their price objective on PepsiCo from $183.00 to $160.00 and set a "hold" rating for the company in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. dropped their target price on PepsiCo from $185.00 to $183.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $178.60.

PepsiCo Price Performance

PEP stock traded up $1.71 during trading on Friday, reaching $148.25. The company's stock had a trading volume of 7,213,692 shares, compared to its average volume of 5,895,834. The company's fifty day moving average is $155.37 and its 200-day moving average is $165.86. PepsiCo, Inc. has a 1 year low of $141.51 and a 1 year high of $183.41. The company has a market capitalization of $203.40 billion, a P/E ratio of 21.87, a price-to-earnings-growth ratio of 2.57 and a beta of 0.54. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were issued a $1.355 dividend. The ex-dividend date was Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.66%. PepsiCo's dividend payout ratio is presently 79.94%.

PepsiCo 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.