Novare Capital Management LLC Purchases 98 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Novare Capital Management LLC grew its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 64,242 shares of the company’s stock after purchasing an additional 98 shares during the quarter. Novare Capital Management LLC’s holdings in PepsiCo were worth $9,769,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Global Wealth Strategies & Associates lifted its position in PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares in the last quarter. Highline Wealth Partners LLC purchased a new position in shares of PepsiCo during the 3rd quarter valued at about $28,000. Legacy Investment Solutions LLC bought a new position in shares of PepsiCo during the 3rd quarter valued at approximately $31,000. Rakuten Securities Inc. increased its holdings 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 acquiring an additional 96 shares in the last quarter. Finally, Mattson Financial Services LLC bought a new stake in PepsiCo during the 2nd quarter worth approximately $34,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PEP. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Bank of America cut their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Barclays lowered their price objective on PepsiCo from $183.00 to $158.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. JPMorgan Chase & Co. cut their target price on PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a research report on Friday. Finally, Piper Sandler assumed coverage on PepsiCo in a report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price target on the stock. One equities research 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $177.00.

PepsiCo Stock Performance

Shares of NASDAQ:PEP opened at $149.12 on Friday. The firm has a fifty day simple moving average of $153.88 and a two-hundred day simple moving average of $165.31. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The stock has a market capitalization of $204.59 billion, a P/E ratio of 21.99, a PEG ratio of 2.86 and a beta of 0.54. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41.

PepsiCo Dividend Announcement

The business also recently disclosed 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. The ex-dividend date was Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.63%. PepsiCo’s dividend payout ratio (DPR) 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.