Independent Advisor Alliance Decreases Stake in PepsiCo, Inc. $PEP

Independent Advisor Alliance reduced its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 15.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 70,940 shares of the company’s stock after selling 13,093 shares during the period. Independent Advisor Alliance’s holdings in PepsiCo were worth $9,963,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in PepsiCo by 1.3% in the second quarter. Vanguard Group Inc. now owns 136,936,037 shares of the company’s stock valued at $18,081,034,000 after acquiring an additional 1,761,785 shares during the last quarter. State Street Corp boosted its stake in PepsiCo by 1.6% during the 2nd quarter. State Street Corp now owns 58,419,849 shares of the company’s stock worth $7,713,757,000 after purchasing an additional 920,045 shares during the period. Geode Capital Management LLC grew its position in PepsiCo by 0.3% during the 2nd quarter. Geode Capital Management LLC now owns 32,675,492 shares of the company’s stock worth $4,301,240,000 after purchasing an additional 86,695 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of PepsiCo by 9.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 29,031,404 shares of the company’s stock valued at $3,833,406,000 after buying an additional 2,556,163 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of PepsiCo during the second quarter worth about $2,330,594,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on PEP shares. Wall Street Zen cut PepsiCo from a “buy” rating to a “hold” rating in a research note on Saturday, December 27th. Piper Sandler increased their price target on shares of PepsiCo from $161.00 to $172.00 and gave the stock an “overweight” rating in a report on Tuesday, December 9th. UBS Group reduced their price objective on shares of PepsiCo from $172.00 to $170.00 and set a “buy” rating for the company in a research report on Wednesday, January 14th. Barclays set a $148.00 target price on shares of PepsiCo in a research report on Friday, January 16th. Finally, Exane BNP Paribas upgraded shares of PepsiCo from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 16th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, PepsiCo currently has an average rating of “Hold” and a consensus target price of $159.29.

PepsiCo Stock Up 3.3%

PEP opened at $153.63 on Friday. The firm has a market cap of $210.06 billion, a P/E ratio of 29.21, a PEG ratio of 4.89 and a beta of 0.42. The business’s fifty day simple moving average is $145.94 and its 200 day simple moving average is $145.53. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $160.15. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 6th. Shareholders of record on Friday, December 5th were paid a dividend of $1.4225 per share. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Friday, December 5th. PepsiCo’s dividend payout ratio is currently 108.17%.

About PepsiCo

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.