The Berkshire Asset Management LLC PA Has $894,000 Stake in PepsiCo Inc. (PEP)

The Berkshire Asset Management LLC PA Has $894,000 Stake in PepsiCo Inc. (PEP)

Berkshire Asset Management LLC PA boosted its stake in PepsiCo Inc. (NYSE:PEP) by 3.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,220 shares of the company’s stock after buying an additional 293 shares during the period. Berkshire Asset Management LLC PA’s holdings in PepsiCo were worth $894,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. D. Scott Neal Inc. raised its stake in 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 period. Piershale Financial Group Inc. raised its stake in 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 period. Delphi Private Advisors LLC raised its stake in 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 period. Global X Management Co. LLC raised its stake in 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 period. Finally, Blume Capital Management Inc. raised its stake in 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 period. 69.04% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Inc. (NYSE:PEP) traded up 0.86% during midday trading on Friday, hitting $103.24. 4,750,772 shares of the stock were exchanged. The company’s 50 day moving average is $103.48 and its 200 day moving average is $106.00. PepsiCo Inc. has a 1-year low of $93.25 and a 1-year high of $110.94. The company has a market capitalization of $148.07 billion, a P/E ratio of 22.65 and a beta of 0.51.

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 $0.7525 dividend. This represents a $3.01 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date was Wednesday, November 30th. PepsiCo’s dividend payout ratio is currently 66.01%.

Several equities analysts have recently weighed in on PEP shares. Zacks Investment Research raised shares of PepsiCo from a “hold” rating to a “buy” rating and set a $115.00 price objective on the stock in a research report on Tuesday, November 29th. Bank of America Corp. reissued a “buy” rating and issued a $120.00 price objective on shares of PepsiCo in a research report on Friday, September 30th. Credit Suisse Group AG reissued a “buy” rating and issued a $122.00 price objective on shares of PepsiCo in a research report on Friday, September 30th. Jefferies Group reissued a “buy” rating and issued a $122.00 price objective (down from $124.00) on shares of PepsiCo in a research report on Friday, September 30th. Finally, Deutsche Bank AG reissued a “buy” rating and issued a $120.00 price objective on shares of PepsiCo in a research report on Monday, October 3rd. Ten investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $113.43.

About PepsiCo

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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