Tallon Kerry Patrick Acquires New Stake in PepsiCo, Inc. (NASDAQ:PEP)

Tallon Kerry Patrick acquired a new stake in PepsiCo, Inc. (NASDAQ:PEP) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,492 shares of the company’s stock, valued at approximately $224,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Empowered Funds LLC increased its holdings in PepsiCo by 9.2% in the third quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock valued at $16,968,000 after purchasing an additional 8,406 shares during the period. Assenagon Asset Management S.A. grew its holdings in PepsiCo by 104.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,705,574 shares of the company’s stock worth $259,350,000 after acquiring an additional 870,451 shares during the period. Janus Henderson Group PLC grew its holdings in PepsiCo by 11.0% during the 3rd quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock worth $59,549,000 after acquiring an additional 34,633 shares during the period. Hudson Valley Investment Advisors Inc. ADV grew its holdings in PepsiCo by 12.8% during the 4th quarter. Hudson Valley Investment Advisors Inc. ADV now owns 41,580 shares of the company’s stock worth $6,323,000 after acquiring an additional 4,712 shares during the period. Finally, IHT Wealth Management LLC grew its holdings in PepsiCo by 19.3% during the 3rd quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock worth $5,493,000 after acquiring an additional 5,220 shares during the period. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on PEP shares. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a report on Thursday, October 10th. Piper Sandler began coverage on PepsiCo in a report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price target for the company. Barclays cut their price objective on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft raised shares of PepsiCo from a “hold” rating to a “buy” rating and increased their price objective for the stock from $179.00 to $184.00 in a research report on Thursday, December 12th. One equities research 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $180.27.

PepsiCo Price Performance

Shares of NASDAQ PEP opened at $146.58 on Friday. PepsiCo, Inc. has a fifty-two week low of $141.51 and a fifty-two week high of $183.41. The stock has a market cap of $201.11 billion, a price-to-earnings ratio of 21.62, a PEG ratio of 2.57 and a beta of 0.54. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The firm’s 50-day simple moving average is $156.06 and its 200 day simple moving average is $166.05.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were given a $1.355 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $5.42 annualized dividend and a yield of 3.70%. PepsiCo’s payout ratio is 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.