Salem Investment Counselors Inc. Boosts Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Salem Investment Counselors Inc. lifted its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 292,565 shares of the company’s stock after buying an additional 2,794 shares during the period. PepsiCo makes up about 1.5% of Salem Investment Counselors Inc.’s holdings, making the stock its 14th biggest holding. Salem Investment Counselors Inc.’s holdings in PepsiCo were worth $44,796,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Global Wealth Strategies & Associates raised its stake in shares of PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after acquiring an additional 59 shares during the period. Highline Wealth Partners LLC purchased a new position in PepsiCo in the third quarter valued at about $28,000. Legacy Investment Solutions LLC acquired a new position in shares of PepsiCo during the third quarter worth about $31,000. Mattson Financial Services LLC purchased a new stake in shares of PepsiCo in the second quarter worth about $34,000. Finally, Rakuten Securities Inc. grew its stake in shares of PepsiCo by 93.2% in the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after buying an additional 96 shares in the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Stock Performance

Shares of NASDAQ PEP traded up $2.00 during mid-day trading on Monday, hitting $144.64. The company had a trading volume of 3,539,900 shares, compared to its average volume of 6,714,237. The stock has a market cap of $198.44 billion, a price-to-earnings ratio of 21.33, a PEG ratio of 2.94 and a beta of 0.54. The firm’s 50 day simple moving average is $157.35 and its two-hundred day simple moving average is $166.50. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. 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 declared a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were given a dividend of $1.355 per share. The ex-dividend date was Friday, December 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.75%. PepsiCo’s dividend payout ratio is currently 79.94%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Piper Sandler assumed coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price objective 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 report on Thursday, October 10th. TD Cowen dropped their target price on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Morgan Stanley downgraded PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target for the company. in a report on Friday, September 20th. Finally, Royal Bank of Canada dropped their price objective on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, PepsiCo has a consensus rating of “Hold” and an average price target of $180.64.

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.