The Midas Management Corp Continues to Hold Stake in PepsiCo Inc. (PEP)

The Midas Management Corp Continues to Hold Stake in PepsiCo Inc. (PEP)

Midas Management Corp held its stake in shares of PepsiCo Inc. (NYSE:PEP) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,000 shares of the company’s stock at the end of the third quarter. PepsiCo makes up 1.2% of Midas Management Corp’s holdings, making the stock its 16th largest position. Midas Management Corp’s holdings in PepsiCo were worth $1,958,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Train Babcock Advisors LLC boosted its position in PepsiCo by 5.3% in the third quarter. Train Babcock Advisors LLC now owns 2,580 shares of the company’s stock valued at $281,000 after buying an additional 130 shares during the period. Integrated Wealth Management boosted its position in PepsiCo by 1.0% in the third quarter. Integrated Wealth Management now owns 24,100 shares of the company’s stock valued at $2,621,000 after buying an additional 229 shares during the period. Tufton Capital Management boosted its position in PepsiCo by 0.7% in the third quarter. Tufton Capital Management now owns 41,575 shares of the company’s stock valued at $4,522,000 after buying an additional 298 shares during the period. Cornerstone Advisors Inc. boosted its position in PepsiCo by 10.7% in the third quarter. Cornerstone Advisors Inc. now owns 35,172 shares of the company’s stock valued at $3,826,000 after buying an additional 3,399 shares during the period. Finally, Bridge Creek Capital Management LLC boosted its position in PepsiCo by 3.0% in the third quarter. Bridge Creek Capital Management LLC now owns 38,751 shares of the company’s stock valued at $4,215,000 after buying an additional 1,125 shares during the period. 69.04% of the stock is owned by institutional investors and hedge funds.

Shares of PepsiCo Inc. (NYSE:PEP) traded down 0.37% on Thursday, hitting $102.36. 3,917,581 shares of the stock traded hands. The firm has a market capitalization of $146.80 billion, a PE ratio of 22.46 and a beta of 0.51. The firm’s 50 day moving average is $103.50 and its 200 day moving average is $106.00. PepsiCo Inc. has a 52 week low of $93.25 and a 52 week high of $110.94.

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 6th. Investors of record on Friday, December 2nd were paid a dividend of $0.7525 per share. This represents a $3.01 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend was Wednesday, November 30th. PepsiCo’s payout ratio is 66.01%.

PEP has been the subject of several recent analyst reports. Zacks Investment Research cut shares of PepsiCo from a “hold” rating to a “sell” rating in a report on Thursday, September 22nd. Bank of America Corp. reiterated a “buy” rating and issued a $120.00 price objective on shares of PepsiCo in a report on Thursday, September 22nd. Jefferies Group reiterated a “buy” rating and issued a $122.00 price objective (down from $124.00) on shares of PepsiCo in a report on Friday, September 30th. Credit Suisse Group AG reiterated a “buy” rating and issued a $122.00 price objective on shares of PepsiCo in a report on Friday, September 30th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $120.00 price objective (up from $116.00) on shares of PepsiCo in a report on Friday, September 30th. Ten investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $113.43.

PepsiCo Company Profile

PepsiCo, Inc is a food and beverage company. The Company, through its operations, bottlers, contract manufacturers and other third parties, is engaged in making, marketing, distributing and selling a range of beverages, foods and snacks, serving in over 200 countries and territories. The Company operates through six segments, namely, Frito-Lay North America (FLNA); Quaker Foods North America (QFNA); North America Beverages (NAB); Latin America, which includes its beverage, food and snack businesses in Latin America; Europe Sub-Saharan Africa (ESSA), which includes its beverage, food and snack businesses in Europe and Sub-Saharan Africa, and Asia, Middle East and North Africa (AMENA), which includes its beverage, food and snack businesses in Asia, Middle East and North Africa.

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