Phoenix Financial Ltd. Boosts Holdings in PepsiCo, Inc. $PEP

Phoenix Financial Ltd. lifted its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 65.4% during the third quarter, HoldingsChannel reports. The firm owned 54,199 shares of the company’s stock after purchasing an additional 21,426 shares during the quarter. Phoenix Financial Ltd.’s holdings in PepsiCo were worth $7,614,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in PepsiCo by 12.4% during the 4th quarter. Brighton Jones LLC now owns 59,392 shares of the company’s stock valued at $9,031,000 after purchasing an additional 6,574 shares in the last quarter. Caxton Associates LLP purchased a new position in shares of PepsiCo during the 1st quarter valued at approximately $251,000. Sivia Capital Partners LLC grew its position in shares of PepsiCo by 138.5% during the second quarter. Sivia Capital Partners LLC now owns 6,527 shares of the company’s stock worth $862,000 after buying an additional 3,790 shares in the last quarter. ORG Partners LLC increased its stake in shares of PepsiCo by 12.6% in the second quarter. ORG Partners LLC now owns 1,541 shares of the company’s stock worth $209,000 after buying an additional 173 shares during the last quarter. Finally, Avior Wealth Management LLC raised its holdings in PepsiCo by 9.6% in the second quarter. Avior Wealth Management LLC now owns 17,493 shares of the company’s stock valued at $2,310,000 after acquiring an additional 1,537 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on PEP. The Goldman Sachs Group boosted their target price on shares of PepsiCo from $165.00 to $167.00 and gave the stock a “buy” rating in a research report on Friday, October 10th. UBS Group cut their price objective on PepsiCo from $172.00 to $170.00 and set a “buy” rating on the stock in a research note on Wednesday, January 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of PepsiCo in a research report on Friday, January 9th. Rothschild & Co Redburn upped their price target on PepsiCo from $117.00 to $120.00 and gave the company a “sell” rating in a research report on Monday, December 15th. Finally, BNP Paribas Exane raised shares of PepsiCo from a “hold” rating to an “outperform” rating and set a $179.00 price objective for the company in a report 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 issued a Sell rating to the company. Based on data from MarketBeat.com, PepsiCo has an average rating of “Hold” and a consensus target price of $159.29.

PepsiCo Trading Up 0.9%

Shares of NASDAQ PEP opened at $145.87 on Tuesday. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $160.15. The company has a market cap of $199.45 billion, a price-to-earnings ratio of 27.73, a price-to-earnings-growth ratio of 4.74 and a beta of 0.42. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26. The stock’s 50 day simple moving average is $145.71 and its 200 day simple moving average is $145.18.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 6th. Stockholders of record on Friday, December 5th were issued a dividend of $1.4225 per share. The ex-dividend date of this dividend was Friday, December 5th. This represents a $5.69 annualized dividend and a dividend yield of 3.9%. PepsiCo’s payout ratio is 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.