Financial Advisors LLC Reduces Stake in PepsiCo by 5%

Financial Advisors LLC has reduced its stake in PepsiCo, Inc. (NASDAQ: PEP) by 5.0% during the second quarter of 2023, according to its latest Form 13F filing with the Securities and Exchange Commission. The institutional investor now holds 1,874 shares of PepsiCo, following the sale of 99 shares during this period. As of the recent filing, these holdings are valued at approximately $247,000.

Multiple institutional investors and hedge funds have also adjusted their positions in PepsiCo. Vanguard Group Inc. increased its stake by 1.4% in the first quarter, acquiring an additional 1,802,748 shares. This brings Vanguard’s total ownership to 135,174,252 shares, valued at around $20.27 billion. Similarly, Charles Schwab Investment Management Inc. expanded its holdings by 5.0%, with a total of 26,475,241 shares worth approximately $3.97 billion after acquiring 1,258,198 shares.

The Bank of New York Mellon Corp raised its stake in PepsiCo by 0.4%, holding 14,062,857 shares valued at approximately $2.11 billion. UBS Asset Management’s distinct unit increased its stake by 1.8%, owning 11,525,812 shares valued at around $1.73 billion after acquiring an additional 208,292 shares. Invesco Ltd. also boosted its holdings by 4.5%, with a total of 11,328,158 shares, valued at approximately $1.70 billion.

Overall, institutional investors and hedge funds control 73.07% of PepsiCo’s stock, reflecting strong interest in the company.

PepsiCo’s Stock Performance

On the trading front, PepsiCo’s shares opened at $153.71 on Monday. The company has observed a 50-day simple moving average of $145.51 and a 200-day simple moving average of $139.25. Financial ratios indicate a current ratio of 0.91, a quick ratio of 0.72, and a debt-to-equity ratio of 2.26. Currently, PepsiCo boasts a market capitalization of $210.17 billion, a P/E ratio of 29.22, and a P/E/G ratio of 3.74. The stock has fluctuated between a 12-month low of $127.60 and a high of $177.50.

PepsiCo also recently announced a quarterly dividend, which was distributed on September 30, 2023. Shareholders of record on September 5, 2023, received a dividend of $1.4225 per share. This dividend indicates an annualized payout of $5.69 and a yield of 3.7%. The company’s current dividend payout ratio stands at 108.17%.

Analyst Perspectives

Recent analyses from various research firms provide insights into PepsiCo’s stock outlook. On October 10, 2023, Jefferies Financial Group raised its price target on PepsiCo shares from $161.00 to $163.00, maintaining a “hold” rating. In a report dated October 6, 2023, BNP Paribas Exane lowered its target price from $152.00 to $150.00, assigning a “neutral” rating.

Cowen reiterated a “hold” rating in its research report, while Evercore ISI increased its target price from $150.00 to $152.00. Rothschild & Co Redburn also lifted its price objective from $115.00 to $117.00, giving the stock a “sell” rating.

In total, six investment analysts have rated the stock as a buy, fourteen have given it a hold rating, and one has issued a sell rating. Based on data from MarketBeat.com, PepsiCo currently holds an average rating of “hold” with a target price of $156.00.

PepsiCo, Inc. engages in the manufacture, marketing, distribution, and sale of a wide range of beverages and convenient foods globally. The company operates through multiple segments, including Frito-Lay North America, Quaker Foods North America, and PepsiCo Beverages North America, among others.

For those interested in tracking institutional holdings and recent trades connected to PepsiCo, further information is accessible through financial news platforms and market analysis tools.