Foster Victor Wealth Advisors LLC Has $11.09 Million Position in PepsiCo, Inc. (NASDAQ:PEP)

Foster Victor Wealth Advisors LLC grew its stake in PepsiCo, Inc. (NASDAQ:PEP) by 18.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 74,769 shares of the company’s stock after buying an additional 11,546 shares during the period. Foster Victor Wealth Advisors LLC’s holdings in PepsiCo were worth $11,085,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in PEP. Global Wealth Strategies & Associates lifted its stake in shares of PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after buying an additional 59 shares in the last quarter. Highline Wealth Partners LLC purchased a new position in PepsiCo during the third quarter worth about $28,000. Legacy Investment Solutions LLC purchased a new stake in shares of PepsiCo during the third quarter valued at approximately $31,000. Mattson Financial Services LLC bought a new stake in shares of PepsiCo during the 2nd quarter worth $34,000. Finally, Rakuten Securities Inc. raised its position in PepsiCo by 93.2% in the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after acquiring an additional 96 shares during the period. 73.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PEP. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Piper Sandler started coverage on shares of PepsiCo in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 target price on the stock. TD Cowen dropped their price target on PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. JPMorgan Chase & Co. cut their price objective on shares of PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a research note on Friday, January 24th. Finally, Barclays reduced their price target on PepsiCo from $183.00 to $158.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, PepsiCo has a consensus rating of “Hold” and an average price target of $177.00.

PepsiCo Stock Down 2.8 %

Shares of PEP stock opened at $150.25 on Wednesday. The company has a market capitalization of $206.14 billion, a price-to-earnings ratio of 22.16, a PEG ratio of 2.86 and a beta of 0.54. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. The company’s fifty day moving average price is $153.68 and its 200-day moving average price is $165.17. PepsiCo, Inc. has a one year low of $141.51 and a one year high of $183.41.

PepsiCo Announces Dividend

The business also recently disclosed 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. This represents a $5.42 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend was Friday, December 6th. PepsiCo’s payout ratio is currently 79.94%.

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.