Scientech Research LLC purchased a new position in PepsiCo, Inc. (NASDAQ:PEP – Free Report) in the 2nd quarter, Holdings Channel reports. The firm purchased 1,970 shares of the company’s stock, valued at approximately $325,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jones Financial Companies Lllp boosted its stake in shares of PepsiCo by 5.2% in the 4th quarter. Jones Financial Companies Lllp now owns 75,965 shares of the company’s stock worth $12,902,000 after buying an additional 3,756 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in PepsiCo by 19.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,258,426 shares of the company’s stock worth $213,731,000 after purchasing an additional 205,682 shares during the last quarter. CWA Asset Management Group LLC grew its stake in shares of PepsiCo by 34.7% during the 4th quarter. CWA Asset Management Group LLC now owns 11,230 shares of the company’s stock valued at $1,907,000 after purchasing an additional 2,893 shares during the period. Rafferty Asset Management LLC lifted its stake in shares of PepsiCo by 14.7% in the 4th quarter. Rafferty Asset Management LLC now owns 171,462 shares of the company’s stock worth $29,121,000 after purchasing an additional 22,036 shares during the period. Finally, Hudson Edge Investment Partners Inc. boosted its holdings in shares of PepsiCo by 1.8% in the fourth quarter. Hudson Edge Investment Partners Inc. now owns 10,320 shares of the company’s stock worth $1,753,000 after buying an additional 180 shares during the last quarter. 73.07% of the stock is owned by institutional investors.
PepsiCo Stock Performance
Shares of NASDAQ PEP opened at $170.05 on Tuesday. The firm’s fifty day moving average is $173.82 and its two-hundred day moving average is $172.12. PepsiCo, Inc. has a 52-week low of $155.83 and a 52-week high of $183.41. The company has a market cap of $233.58 billion, a P/E ratio of 24.68, a P/E/G ratio of 2.93 and a beta of 0.53. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.64 and a current ratio of 0.83.
PepsiCo Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 6th were given a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend was Friday, September 6th. PepsiCo’s dividend payout ratio is presently 78.66%.
Analyst Upgrades and Downgrades
Several research firms have weighed in on PEP. BNP Paribas started coverage on shares of PepsiCo in a research report on Monday, June 24th. They issued a “neutral” rating and a $174.00 price target on the stock. StockNews.com cut PepsiCo from a “buy” rating to a “hold” rating in a report on Friday, September 20th. DZ Bank cut PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target for the company. in a research report on Friday, July 19th. Royal Bank of Canada lowered their price objective on PepsiCo from $180.00 to $177.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. Finally, JPMorgan Chase & Co. decreased their target price on shares of PepsiCo from $184.00 to $182.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $185.20.
Read Our Latest Report on PepsiCo
PepsiCo Company Profile
PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of 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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