Turtle Creek Wealth Advisors LLC Buys 8,526 Shares of PepsiCo, Inc. $PEP

Turtle Creek Wealth Advisors LLC increased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 37.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 31,110 shares of the company’s stock after buying an additional 8,526 shares during the period. Turtle Creek Wealth Advisors LLC’s holdings in PepsiCo were worth $4,369,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Three Bridge Wealth Advisors LLC lifted its stake in PepsiCo by 1.8% in the third quarter. Three Bridge Wealth Advisors LLC now owns 3,870 shares of the company’s stock valued at $544,000 after purchasing an additional 68 shares during the last quarter. JSF Financial LLC increased its position in PepsiCo by 3.8% in the second quarter. JSF Financial LLC now owns 1,897 shares of the company’s stock worth $250,000 after buying an additional 69 shares during the last quarter. Hudock Inc. raised its stake in shares of PepsiCo by 1.0% in the third quarter. Hudock Inc. now owns 7,079 shares of the company’s stock valued at $994,000 after buying an additional 70 shares during the period. Binnacle Investments Inc lifted its position in shares of PepsiCo by 33.2% during the 2nd quarter. Binnacle Investments Inc now owns 285 shares of the company’s stock valued at $38,000 after buying an additional 71 shares during the last quarter. Finally, Dogwood Wealth Management LLC grew its stake in shares of PepsiCo by 15.4% during the 2nd quarter. Dogwood Wealth Management LLC now owns 539 shares of the company’s stock worth $73,000 after acquiring an additional 72 shares during the period. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on PEP shares. DZ Bank upgraded PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 price objective on the stock in a research note on Tuesday, October 21st. Piper Sandler lifted their target price on shares of PepsiCo from $161.00 to $172.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 9th. Bank of America upped their price target on shares of PepsiCo from $150.00 to $155.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. HSBC lifted their price objective on shares of PepsiCo from $145.00 to $152.00 and gave the company a “hold” rating in a research note on Friday, October 10th. Finally, JPMorgan Chase & Co. raised shares of PepsiCo from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $151.00 to $164.00 in a report on Wednesday, December 10th. Ten equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, PepsiCo presently has a consensus rating of “Hold” and a consensus target price of $161.32.

PepsiCo Stock Performance

NASDAQ PEP opened at $146.32 on Tuesday. The company’s 50 day simple moving average is $145.69 and its two-hundred day simple moving average is $144.81. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.91 and a quick ratio of 0.72. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $160.15. The stock has a market capitalization of $200.07 billion, a PE ratio of 27.82, a P/E/G ratio of 4.79 and a beta of 0.42.

PepsiCo Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 6th. Investors of record on Friday, December 5th were paid a dividend of $1.4225 per share. The ex-dividend date of this dividend was Friday, December 5th. This represents a $5.69 annualized dividend and a yield of 3.9%. PepsiCo’s dividend payout ratio (DPR) is currently 108.17%.

PepsiCo Company Profile

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.