Livingston Group Asset Management CO operating as Southport Capital Management lowered its position in PepsiCo, Inc. (NASDAQ:PEP) by 34.4% in the third quarter, HoldingsChannel reports. The fund owned 23,876 shares of the company’s stock after selling 12,503 shares during the quarter. PepsiCo accounts for about 1.4% of Livingston Group Asset Management CO operating as Southport Capital Management’s portfolio, making the stock its 12th largest position. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in PepsiCo were worth $3,591,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Paragon Wealth Strategies LLC purchased a new stake in shares of PepsiCo during the second quarter worth about $30,000. Cowen Prime Advisors LLC purchased a new stake in PepsiCo during the 2nd quarter valued at about $34,000. Financial Insights Inc. purchased a new stake in PepsiCo during the 2nd quarter valued at about $36,000. AGF Investments LLC purchased a new stake in PepsiCo during the 2nd quarter valued at about $37,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in PepsiCo during the 2nd quarter valued at about $44,000. Institutional investors and hedge funds own 70.48% of the company’s stock.
PepsiCo stock traded down $1.51 during mid-day trading on Thursday, reaching $163.74. 3,308,040 shares of the company’s stock were exchanged, compared to its average volume of 4,732,310. The company has a market cap of $226.40 billion, a P/E ratio of 27.89, a P/E/G ratio of 2.97 and a beta of 0.62. PepsiCo, Inc. has a twelve month low of $128.32 and a twelve month high of $166.80. The company has a quick ratio of 0.77, a current ratio of 0.95 and a debt-to-equity ratio of 2.32. The company has a fifty day moving average of $158.84 and a 200-day moving average of $154.23.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 7th. Shareholders of record on Friday, December 3rd will be given a $1.075 dividend. This represents a $4.30 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date is Thursday, December 2nd. PepsiCo’s dividend payout ratio is presently 73.25%.
Several analysts have recently weighed in on PEP shares. Guggenheim increased their price target on shares of PepsiCo from $171.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday, September 21st. UBS Group increased their price target on shares of PepsiCo from $170.00 to $172.00 and gave the company a “buy” rating in a research note on Wednesday, October 6th. Barclays increased their price target on shares of PepsiCo from $165.00 to $168.00 and gave the company an “overweight” rating in a research note on Thursday, October 7th. Deutsche Bank Aktiengesellschaft increased their price target on shares of PepsiCo from $158.00 to $160.00 and gave the company a “hold” rating in a research note on Wednesday, October 6th. Finally, Zacks Investment Research cut shares of PepsiCo from a “buy” rating to a “hold” rating and set a $164.00 price target for the company. in a research note on Monday, August 9th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $162.86.
In other PepsiCo news, CFO Hugh F. Johnston sold 37,266 shares of the stock in a transaction that occurred on Thursday, October 21st. The shares were sold at an average price of $160.30, for a total value of $5,973,739.80. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.14% of the company’s stock.
PepsiCo, Inc engages in the manufacture, marketing, distribution and sale of beverages, food, and snacks. It is a food and beverage company with a complementary portfolio of brands, including Frito-Lay, Gatorade, Pepsi-Cola, Quaker, and Tropicana. It operates through the following business segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; and Africa, Middle East and South Asia The Frito-Lay North America segment markets, distributes, and sells snack foods under the Lay’s, Doritos, Cheetos, Tostitos, Fritos, Ruffles, and Santitas brands.
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