Whitener Capital Management Inc. Buys 2,447 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Whitener Capital Management Inc. raised its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 5.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 44,389 shares of the company's stock after acquiring an additional 2,447 shares during the period. PepsiCo comprises about 1.9% of Whitener Capital Management Inc.'s investment portfolio, making the stock its 13th largest position. Whitener Capital Management Inc.'s holdings in PepsiCo were worth $6,750,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. XTX Topco Ltd bought a new stake in shares of PepsiCo during the second quarter worth $1,707,000. Brighton Jones LLC increased its position in PepsiCo by 6.3% in the 2nd quarter. Brighton Jones LLC now owns 27,806 shares of the company's stock valued at $4,586,000 after acquiring an additional 1,655 shares in the last quarter. Ieq Capital LLC raised its stake in shares of PepsiCo by 5.9% in the second quarter. Ieq Capital LLC now owns 105,460 shares of the company's stock worth $17,394,000 after acquiring an additional 5,863 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in shares of PepsiCo by 7.7% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 106,734 shares of the company's stock worth $17,604,000 after purchasing an additional 7,620 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in shares of PepsiCo by 0.5% during the second quarter. Canada Pension Plan Investment Board now owns 3,333,908 shares of the company's stock valued at $549,861,000 after purchasing an additional 17,800 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Stock Up 1.2 %

Shares of NASDAQ:PEP traded up $1.71 during trading on Friday, hitting $148.25. 7,213,692 shares of the company's stock traded hands, compared to its average volume of 5,895,834. The company has a 50-day moving average price of $155.37 and a 200-day moving average price of $165.83. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41. 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 cap of $203.40 billion, a price-to-earnings ratio of 21.87, a price-to-earnings-growth ratio of 2.57 and a beta of 0.54.

PepsiCo Dividend Announcement

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

Analyst Upgrades and Downgrades

PEP has been the topic of several research reports. Wells Fargo & Company reduced their price objective on PepsiCo from $170.00 to $155.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 7th. Barclays cut their price target on PepsiCo from $183.00 to $158.00 and set an "overweight" rating on the stock in a research note on Friday. Royal Bank of Canada lowered their price objective on PepsiCo from $177.00 to $176.00 and set a "sector perform" rating for the company in a research report on Friday, October 4th. 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 target price on the stock. Finally, StockNews.com upgraded shares of PepsiCo from a "hold" rating to a "buy" rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $178.60.

About PepsiCo

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.