R.H. Investment Group LLC Purchases Shares of 1,880 PepsiCo, Inc. (NASDAQ:PEP)

R.H. Investment Group LLC acquired a new stake in shares of PepsiCo, Inc. (NASDAQ:PEP) in the fourth quarter, Holdings Channel.com reports. The firm acquired 1,880 shares of the company’s stock, valued at approximately $286,000. PepsiCo makes up about 0.3% of R.H. Investment Group LLC’s investment portfolio, making the stock its 29th largest position.

Several other hedge funds have also made changes to their positions in PEP. State Street Corp increased its holdings in PepsiCo by 5.1% in the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock valued at $9,738,429,000 after buying an additional 2,775,679 shares during the period. Geode Capital Management LLC boosted its position in shares of PepsiCo by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock valued at $5,170,529,000 after acquiring an additional 543,558 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position 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 worth $3,632,413,000 after purchasing an additional 1,125,059 shares in the last quarter. Legal & General Group Plc boosted its holdings in PepsiCo by 7.2% during the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock valued at $2,234,400,000 after purchasing an additional 905,468 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of PepsiCo by 21.1% in the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock valued at $2,293,049,000 after purchasing an additional 2,264,445 shares during the period. Institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on PEP shares. Deutsche Bank Aktiengesellschaft raised PepsiCo from a “hold” rating to a “buy” rating and boosted their price target for the company from $179.00 to $184.00 in a research note on Thursday, December 12th. Piper Sandler initiated coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 target price for the company. Royal Bank of Canada reduced their price target on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. Bank of America dropped their price objective on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. Finally, JPMorgan Chase & Co. dropped their price target on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $180.64.

PepsiCo Stock Performance

Shares of PepsiCo stock opened at $144.78 on Thursday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41. The firm has a fifty day moving average of $156.46 and a two-hundred day moving average of $166.20. The stock has a market capitalization of $198.64 billion, a price-to-earnings ratio of 21.35, a PEG ratio of 2.94 and a beta of 0.54.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were given a dividend of $1.355 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.74%. PepsiCo’s payout ratio is currently 79.94%.

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.