Boston Private Wealth LLC lowered its stake in shares of Pepsico, Inc. (NYSE:PEP) by 1.7% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 100,028 shares of the company’s stock after selling 1,732 shares during the period. Boston Private Wealth LLC’s holdings in Pepsico were worth $11,553,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Sanders Capital LLC acquired a new position in shares of Pepsico during the 1st quarter worth approximately $254,277,000. Harbour Capital Advisors LLC raised its position in Pepsico by 11,316.2% in the second quarter. Harbour Capital Advisors LLC now owns 2,183,685 shares of the company’s stock valued at $18,908,000 after purchasing an additional 2,164,557 shares during the period. Canada Pension Plan Investment Board raised its position in Pepsico by 92.5% in the first quarter. Canada Pension Plan Investment Board now owns 3,317,230 shares of the company’s stock valued at $371,065,000 after purchasing an additional 1,593,550 shares during the period. Karp Capital Management Corp purchased a new stake in shares of Pepsico during the first quarter worth $112,080,000. Finally, Pioneer Investment Management Inc. increased its position in shares of Pepsico by 19.9% during the first quarter. Pioneer Investment Management Inc. now owns 4,414,828 shares of the company’s stock worth $493,842,000 after acquiring an additional 733,294 shares during the period. Institutional investors and hedge funds own 70.50% of the company’s stock.
Pepsico, Inc. (NYSE:PEP) traded up $0.13 during trading on Wednesday, reaching $117.59. 3,198,600 shares of the company traded hands, compared to its average volume of 3,667,118. Pepsico, Inc. has a 12-month low of $100.81 and a 12-month high of $119.39. The stock has a market cap of $167,044.91, a P/E ratio of 22.94, a price-to-earnings-growth ratio of 3.19 and a beta of 0.68. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.35 and a quick ratio of 1.21.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 8th. Stockholders of record on Friday, December 1st will be issued a $0.805 dividend. This represents a $3.22 annualized dividend and a dividend yield of 2.74%. The ex-dividend date is Thursday, November 30th. Pepsico’s dividend payout ratio (DPR) is presently 66.53%.
A number of analysts have recently weighed in on PEP shares. BidaskClub upgraded shares of Pepsico from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. Zacks Investment Research upgraded shares of Pepsico from a “hold” rating to a “buy” rating and set a $132.00 target price for the company in a research note on Tuesday, August 22nd. BMO Capital Markets reissued a “hold” rating and set a $120.00 price target on shares of Pepsico in a report on Wednesday, September 6th. Royal Bank Of Canada reissued a “hold” rating and set a $115.00 price target on shares of Pepsico in a report on Wednesday, September 6th. Finally, Credit Suisse Group cut shares of Pepsico from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $126.00 to $124.00 in a report on Friday, September 8th. Eight investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Pepsico has an average rating of “Buy” and an average target price of $121.96.
In other Pepsico news, insider Ramon Laguarta sold 21,449 shares of the business’s stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $110.51, for a total transaction of $2,370,328.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.26% of the company’s stock.
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PepsiCo, Inc is a global food and beverage company. The Company’s portfolio of brands includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. The Company operates through six segments: Frito-Lay North America (FLNA), Quaker Foods North America (QFNA), North America Beverages (NAB), Latin America, Europe Sub-Saharan Africa (ESSA), and Asia, Middle East and North Africa (AMENA).
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