Peloton Wealth Strategists lessened its position in shares of PepsiCo, Inc. (NASDAQ:PEP – Get Rating) by 6.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,055 shares of the company’s stock after selling 1,600 shares during the period. PepsiCo accounts for 1.6% of Peloton Wealth Strategists’ holdings, making the stock its 25th biggest holding. Peloton Wealth Strategists’ holdings in PepsiCo were worth $4,005,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in PEP. UBS Asset Management Americas Inc. increased its stake in PepsiCo by 24.8% in the third quarter. UBS Asset Management Americas Inc. now owns 9,226,501 shares of the company’s stock valued at $1,387,758,000 after purchasing an additional 1,834,683 shares in the last quarter. Alphinity Investment Management Pty Ltd bought a new stake in PepsiCo in the fourth quarter valued at $213,908,000. Capital Research Global Investors grew its holdings in shares of PepsiCo by 6.5% during the third quarter. Capital Research Global Investors now owns 17,064,266 shares of the company’s stock valued at $2,566,639,000 after buying an additional 1,041,453 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of PepsiCo by 36.3% during the third quarter. Alliancebernstein L.P. now owns 3,696,520 shares of the company’s stock valued at $555,994,000 after buying an additional 984,383 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of PepsiCo by 132.2% during the third quarter. Renaissance Technologies LLC now owns 1,716,862 shares of the company’s stock valued at $258,233,000 after buying an additional 977,600 shares during the last quarter. 72.12% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ PEP traded up $3.32 during midday trading on Friday, hitting $173.72. The company’s stock had a trading volume of 4,713,867 shares, compared to its average volume of 5,371,708. The stock has a fifty day moving average price of $168.17 and a 200 day moving average price of $168.12. PepsiCo, Inc. has a one year low of $144.08 and a one year high of $177.62. The company has a current ratio of 0.87, a quick ratio of 0.68 and a debt-to-equity ratio of 1.89. The firm has a market capitalization of $240.20 billion, a price-to-earnings ratio of 23.76, a P/E/G ratio of 3.39 and a beta of 0.58.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Friday, June 3rd will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date is Thursday, June 2nd. This is a positive change from PepsiCo’s previous quarterly dividend of $1.08. PepsiCo’s dividend payout ratio is 58.82%.
A number of brokerages have recently issued reports on PEP. DZ Bank cut shares of PepsiCo from a “buy” rating to a “hold” rating and set a $180.00 price objective for the company. in a report on Tuesday, February 15th. Morgan Stanley lifted their price objective on shares of PepsiCo from $172.00 to $188.00 and gave the company an “overweight” rating in a report on Tuesday, February 8th. Wells Fargo & Company cut their price target on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 9th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of PepsiCo from $173.00 to $175.00 in a report on Wednesday, April 27th. Finally, Barclays cut their price target on shares of PepsiCo from $186.00 to $180.00 and set an “overweight” rating on the stock in a report on Monday, February 14th. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $176.56.
PepsiCo Company Profile (Get Rating)
PepsiCo, Inc manufactures, markets, distributes, and sells 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.
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