Sonora Investment Management Group LLC Has $15.44 Million Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Sonora Investment Management Group LLC boosted its position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 6.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 101,505 shares of the company's stock after acquiring an additional 6,078 shares during the period. PepsiCo accounts for 1.2% of Sonora Investment Management Group LLC's portfolio, making the stock its 26th largest position. Sonora Investment Management Group LLC's holdings in PepsiCo were worth $15,435,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PEP. State Street Corp boosted its stake in PepsiCo by 5.1% in the third quarter. State Street Corp now owns 57,268,030 shares of the company's stock valued at $9,738,429,000 after acquiring an additional 2,775,679 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of PepsiCo by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company's stock worth $5,170,529,000 after purchasing an additional 543,558 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in 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 purchasing an additional 1,125,059 shares during the last quarter. Franklin Resources Inc. boosted its holdings in 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 buying an additional 2,264,445 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of PepsiCo by 2.7% in 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 acquiring an additional 313,468 shares during the last quarter. 73.07% of the stock is owned by institutional investors.

PepsiCo Stock Up 1.0 %

NASDAQ:PEP opened at $151.90 on Friday. The firm has a market capitalization of $208.41 billion, a price-to-earnings ratio of 22.40, a price-to-earnings-growth ratio of 2.91 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, Inc. has a twelve month low of $141.51 and a twelve month high of $183.41. The stock's 50 day moving average price is $153.51 and its two-hundred day moving average price is $165.07.

PepsiCo Dividend Announcement

The firm 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 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date was Friday, December 6th. PepsiCo's dividend payout ratio (DPR) is presently 79.94%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on PEP shares. Hsbc Global Res upgraded shares of PepsiCo to a "hold" rating in a report on Thursday, October 10th. StockNews.com raised PepsiCo from a "hold" rating to a "buy" rating in a research note on Tuesday, November 5th. Piper Sandler assumed coverage on PepsiCo in a research report on Tuesday, January 7th. They set an "overweight" rating and a $171.00 price target on the stock. Deutsche Bank Aktiengesellschaft decreased their price objective on PepsiCo from $184.00 to $178.00 and set a "buy" rating for the company in a research report on Wednesday, January 22nd. Finally, UBS Group dropped their target price on shares of PepsiCo from $193.00 to $175.00 and set a "buy" rating on the stock in a report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $176.73.

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.

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