Cove Private Wealth LLC Grows Position in PepsiCo, Inc. (NASDAQ:PEP)

Cove Private Wealth LLC lifted its stake in PepsiCo, Inc. (NASDAQ:PEP) by 3.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,954 shares of the company’s stock after buying an additional 249 shares during the quarter. Cove Private Wealth LLC’s holdings in PepsiCo were worth $1,057,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Global Wealth Strategies & Associates grew its stake in PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after purchasing an additional 59 shares in the last quarter. Cross Staff Investments Inc lifted its holdings in shares of PepsiCo by 0.9% in the 3rd quarter. Cross Staff Investments Inc now owns 7,080 shares of the company’s stock worth $1,204,000 after buying an additional 60 shares during the period. Paulson Wealth Management Inc. grew its position in shares of PepsiCo by 2.1% during the 3rd quarter. Paulson Wealth Management Inc. now owns 2,986 shares of the company’s stock worth $508,000 after buying an additional 60 shares in the last quarter. LCM Capital Management Inc increased its stake in shares of PepsiCo by 0.8% during the third quarter. LCM Capital Management Inc now owns 7,573 shares of the company’s stock valued at $1,288,000 after buying an additional 62 shares during the period. Finally, Demars Financial Group LLC raised its holdings in shares of PepsiCo by 1.1% in the third quarter. Demars Financial Group LLC now owns 5,721 shares of the company’s stock valued at $973,000 after acquiring an additional 62 shares in the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Trading Up 1.2 %

NASDAQ PEP opened at $148.25 on Tuesday. 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 stock has a market capitalization of $203.40 billion, a P/E ratio of 21.87, a PEG ratio of 2.57 and a beta of 0.54. The firm’s 50-day moving average is $155.37 and its two-hundred day moving average is $165.86. PepsiCo, Inc. has a 12 month low of $141.51 and a 12 month high of $183.41.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were given a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date was Friday, December 6th. PepsiCo’s payout ratio is 79.94%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Barclays cut their target price on shares of PepsiCo from $183.00 to $158.00 and set an “overweight” rating on the stock in a research report on Friday. Wells Fargo & Company dropped their target price on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Royal Bank of Canada lowered their price target on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Finally, UBS Group cut their price target on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, PepsiCo presently has an average rating of “Hold” and a consensus price target of $178.60.

PepsiCo Company 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.