The Pepsico, Inc. (PEP) Stake Lowered by Midwest Investment Management LLC

The Pepsico, Inc. (PEP) Stake Lowered by Midwest Investment Management LLC

Midwest Investment Management LLC cut its stake in Pepsico, Inc. (NYSE:PEP) by 4.7% during the third quarter, Holdings Channel reports. The fund owned 3,050 shares of the company’s stock after selling 150 shares during the period. Midwest Investment Management LLC’s holdings in Pepsico were worth $331,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. D. Scott Neal Inc. boosted its position in shares of Pepsico by 8.1% in the second quarter. D. Scott Neal Inc. now owns 944 shares of the company’s stock valued at $100,000 after buying an additional 71 shares during the last quarter. Piershale Financial Group Inc. boosted its position in shares of Pepsico by 0.4% in the second quarter. Piershale Financial Group Inc. now owns 1,005 shares of the company’s stock valued at $106,000 after buying an additional 4 shares during the last quarter. Delphi Private Advisors LLC boosted its position in shares of Pepsico by 1.3% in the second quarter. Delphi Private Advisors LLC now owns 1,002 shares of the company’s stock valued at $106,000 after buying an additional 13 shares during the last quarter. Global X Management Co. LLC boosted its position in shares of Pepsico by 92.1% in the second quarter. Global X Management Co. LLC now owns 1,101 shares of the company’s stock valued at $117,000 after buying an additional 528 shares during the last quarter. Finally, Blume Capital Management Inc. boosted its position in shares of Pepsico by 8.5% in the second quarter. Blume Capital Management Inc. now owns 1,302 shares of the company’s stock valued at $138,000 after buying an additional 102 shares during the last quarter. Institutional investors own 69.04% of the company’s stock.

Shares of Pepsico, Inc. (NYSE:PEP) traded up 0.54% during midday trading on Wednesday, hitting $102.74. 4,340,388 shares of the stock traded hands. The company has a market capitalization of $147.35 billion, a PE ratio of 22.54 and a beta of 0.51. The firm’s 50 day moving average price is $103.53 and its 200 day moving average price is $106.03. Pepsico, Inc. has a 12-month low of $93.25 and a 12-month high of $110.94.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 6th. Investors of record on Friday, December 2nd were given a $0.7525 dividend. The ex-dividend date of this dividend was Wednesday, November 30th. This represents a $3.01 annualized dividend and a dividend yield of 2.93%. Pepsico’s dividend payout ratio is presently 66.01%.

Several analysts recently commented on the stock. Vetr cut shares of Pepsico from a “buy” rating to a “hold” rating and set a $106.67 price target for the company. in a report on Wednesday. Zacks Investment Research cut shares of Pepsico from a “buy” rating to a “hold” rating in a report on Wednesday, November 30th. BMO Capital Markets restated an “outperform” rating and set a $120.00 price target (up from $116.00) on shares of Pepsico in a report on Friday, September 30th. Jefferies Group restated a “buy” rating and set a $122.00 price target (down from $124.00) on shares of Pepsico in a report on Friday, September 30th. Finally, Morgan Stanley restated an “overweight” rating and set a $121.00 price target on shares of Pepsico in a report on Friday, September 30th. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company 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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