Merit Financial Group LLC Grows Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Merit Financial Group LLC boosted its holdings in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 16.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,699 shares of the company's stock after purchasing an additional 9,104 shares during the quarter. Merit Financial Group LLC's holdings in PepsiCo were worth $9,990,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

Several research firms have recently commented on PEP. Redburn Atlantic upgraded shares of PepsiCo to a "strong sell" rating in a research note on Thursday, October 10th. UBS Group dropped their target price on PepsiCo from $193.00 to $175.00 and set a "buy" rating on the stock in a research report on Thursday. Morgan Stanley downgraded shares of PepsiCo from an "overweight" rating to an "equal weight" rating and set a $185.00 price target for the company. in a report on Friday, September 20th. Bank of America decreased their price objective on shares of PepsiCo from $190.00 to $185.00 and set a "buy" rating on the stock in a report on Monday, September 30th. Finally, Piper Sandler assumed coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They set an "overweight" rating and a $171.00 price target for the company. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, PepsiCo presently has an average rating of "Hold" and an average price target of $178.60.

PepsiCo Trading Up 1.2 %

Shares of PEP traded up $1.71 during mid-day trading on Friday, hitting $148.25. The company had a trading volume of 7,213,692 shares, compared to its average volume of 5,895,834. PepsiCo, Inc. has a 1-year low of $141.51 and a 1-year high of $183.41. The business's 50-day simple moving average is $155.37 and its 200-day simple moving average is $165.83. The stock has a market cap of $203.40 billion, a PE ratio of 21.87, a P/E/G 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were paid a dividend of $1.355 per share. The ex-dividend date was Friday, December 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.66%. PepsiCo's dividend payout ratio is presently 79.94%.

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.