KMG Fiduciary Partners LLC boosted its position in PepsiCo, Inc. (NASDAQ:PEP) by 2.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 43,436 shares of the company’s stock after purchasing an additional 871 shares during the period. PepsiCo comprises 1.3% of KMG Fiduciary Partners LLC’s holdings, making the stock its 22nd largest position. KMG Fiduciary Partners LLC’s holdings in PepsiCo were worth $6,285,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in PEP. Catalyst Private Wealth LLC acquired a new stake in shares of PepsiCo during the 3rd quarter worth about $34,000. Baron Financial Group LLC bought a new position in PepsiCo in the 3rd quarter valued at about $35,000. Chiron Capital Management LLC acquired a new stake in PepsiCo during the third quarter worth approximately $43,000. Adams Wealth Management bought a new stake in shares of PepsiCo during the third quarter worth approximately $44,000. Finally, Ellevest Inc. grew its position in shares of PepsiCo by 25.1% in the third quarter. Ellevest Inc. now owns 459 shares of the company’s stock valued at $64,000 after purchasing an additional 92 shares during the last quarter. Hedge funds and other institutional investors own 70.16% of the company’s stock.
In related news, CEO Kirk Tanner sold 12,500 shares of the firm’s stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $136.81, for a total transaction of $1,710,125.00. Following the completion of the transaction, the chief executive officer now directly owns 95,645 shares of the company’s stock, valued at approximately $13,085,192.45. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.13% of the stock is currently owned by insiders.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 7th. Investors of record on Friday, December 4th were issued a $1.0225 dividend. The ex-dividend date was Thursday, December 3rd. This represents a $4.09 dividend on an annualized basis and a yield of 2.86%. PepsiCo’s dividend payout ratio (DPR) is presently 73.96%.
Several analysts recently issued reports on the company. Royal Bank of Canada lowered PepsiCo from an “outperform” rating to a “sector perform” rating and set a $153.00 price objective on the stock. in a report on Monday, January 4th. They noted that the move was a valuation call. UBS Group upped their price target on shares of PepsiCo from $140.00 to $146.00 in a research note on Friday, October 2nd. Zacks Investment Research cut shares of PepsiCo from a “hold” rating to a “sell” rating and set a $140.00 price objective for the company. in a research note on Friday, September 18th. Citigroup upgraded shares of PepsiCo from a “neutral” rating to a “buy” rating and increased their target price for the stock from $148.00 to $169.00 in a research report on Monday, October 12th. Finally, Wells Fargo & Company began coverage on shares of PepsiCo in a report on Monday, December 7th. They set an “equal weight” rating and a $157.00 target price on the stock. Two research analysts have rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $144.88.
PepsiCo, Inc operates as a food and beverage company worldwide. The company operates through seven segments: FLNA, QFNA, PBNA, LatAm, Europe, AMESA, and APAC. It offers branded dips, cheese-flavored snacks, and tortillas, as well as corn, potato, and tortilla chips; cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes; beverage concentrates, fountain syrups, and finished goods; ready-to-drink tea, coffee, and juices; and dairy products.
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