Hartford Financial Management Inc. Grows Position in PepsiCo, Inc. (NASDAQ:PEP)

Hartford Financial Management Inc. increased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,490 shares of the company’s stock after acquiring an additional 99 shares during the quarter. Hartford Financial Management Inc.’s holdings in PepsiCo were worth $4,636,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Empowered Funds LLC increased its holdings in shares of 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 last quarter. Assenagon Asset Management S.A. increased its stake in shares of PepsiCo by 104.2% in 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 last quarter. Hudson Valley Investment Advisors Inc. ADV raised its holdings in shares of 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. Janus Henderson Group PLC boosted its position in shares of PepsiCo by 11.0% during the 3rd quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock valued at $59,549,000 after acquiring an additional 34,633 shares during the last quarter. Finally, IHT Wealth Management LLC increased its position in PepsiCo by 19.3% during the third quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock worth $5,493,000 after purchasing an additional 5,220 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Up 1.0 %

PepsiCo stock opened at $151.90 on Friday. The stock has a 50-day simple moving average of $153.51 and a 200-day simple moving average of $165.07. The company has a market capitalization of $208.41 billion, a P/E ratio of 22.40, a PEG ratio of 2.91 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. PepsiCo, Inc. has a fifty-two week low of $141.51 and a fifty-two week high of $183.41.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were issued a $1.355 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.57%. PepsiCo’s payout ratio is 79.94%.

Wall Street Analyst Weigh In

PEP has been the topic of several recent analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $172.00 target price on shares of PepsiCo in a report on Wednesday. Wells Fargo & Company dropped their price objective on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Piper Sandler initiated coverage on PepsiCo in a research note on Tuesday, January 7th. They set an “overweight” rating and a $171.00 target price on the stock. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Finally, Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a research note on Thursday, October 10th. One equities 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $176.73.

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.