Bbva Compass Bancshares Inc. reduced its position in PepsiCo, Inc. (NASDAQ:PEP) by 2.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 67,970 shares of the company’s stock after selling 1,430 shares during the quarter. Bbva Compass Bancshares Inc.’s holdings in PepsiCo were worth $7,419,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Prudential Financial Inc. boosted its position in PepsiCo by 26.1% during the 3rd quarter. Prudential Financial Inc. now owns 4,354,014 shares of the company’s stock worth $485,168,000 after buying an additional 899,911 shares during the period. First National Bank of Mount Dora Trust Investment Services acquired a new position in shares of PepsiCo in the 4th quarter worth approximately $201,000. Confluence Investment Management LLC lifted its position in shares of PepsiCo by 2.0% in the 4th quarter. Confluence Investment Management LLC now owns 1,154,250 shares of the company’s stock worth $138,418,000 after purchasing an additional 22,364 shares during the period. Gillespie Robinson & Grimm Inc. lifted its position in shares of PepsiCo by 2.8% in the 4th quarter. Gillespie Robinson & Grimm Inc. now owns 209,803 shares of the company’s stock worth $25,160,000 after purchasing an additional 5,738 shares during the period. Finally, Chesley Taft & Associates LLC lifted its position in shares of PepsiCo by 0.3% in the 4th quarter. Chesley Taft & Associates LLC now owns 250,366 shares of the company’s stock worth $30,024,000 after purchasing an additional 686 shares during the period. 69.68% of the stock is currently owned by hedge funds and other institutional investors.
PepsiCo opened at $105.81 on Thursday, according to Marketbeat. The company has a current ratio of 1.28, a quick ratio of 1.15 and a debt-to-equity ratio of 2.91. The firm has a market cap of $149.41 billion, a price-to-earnings ratio of 20.23, a PEG ratio of 2.44 and a beta of 0.68. PepsiCo, Inc. has a 1 year low of $95.94 and a 1 year high of $122.51.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 1st will be issued a dividend of $0.9275 per share. This represents a $3.71 dividend on an annualized basis and a yield of 3.51%. This is an increase from PepsiCo’s previous quarterly dividend of $0.81. The ex-dividend date of this dividend is Thursday, May 31st. PepsiCo’s payout ratio is currently 70.94%.
A number of brokerages have recently issued reports on PEP. BidaskClub upgraded shares of PepsiCo from a “sell” rating to a “hold” rating in a research report on Tuesday, June 12th. SunTrust Banks dropped their price target on shares of PepsiCo to $105.00 and set a “hold” rating on the stock in a research report on Friday, April 27th. Stifel Nicolaus dropped their price target on shares of PepsiCo from $120.00 to $110.00 and set a “hold” rating on the stock in a research report on Friday, April 27th. ValuEngine downgraded shares of PepsiCo from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Finally, Susquehanna Bancshares set a $130.00 price objective on shares of PepsiCo and gave the company a “buy” rating in a research note on Friday, May 4th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $120.36.
PepsiCo, Inc operates as a food and beverage company worldwide. Its Frito-Lay North America segment offers Lay's and Ruffles potato chips; Doritos, Tostitos, and Santitas tortilla chips; and Cheetos snacks, branded dips, and Fritos corn chips. The company's Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the brands Quaker, Aunt Jemima, Cap'n crunch, life, Quaker Chewy, and Rice-A-Roni.
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