Pepsico, Inc. (PEP) Stake Increased by Coconut Grove Bank

Pepsico, Inc. (PEP) Stake Increased by Coconut Grove Bank

Coconut Grove Bank raised 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. The institutional investor owned 5,089 shares of the company’s stock after buying an additional 180 shares during the period. Coconut Grove Bank’s holdings in Pepsico were worth $553,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Pepsico by 2.3% in the second quarter. Vanguard Group Inc. now owns 100,515,744 shares of the company’s stock valued at $10,648,637,000 after buying an additional 2,290,350 shares during the last quarter. BlackRock Fund Advisors increased its position in Pepsico by 2.4% in the second quarter. BlackRock Fund Advisors now owns 20,533,515 shares of the company’s stock valued at $2,175,321,000 after buying an additional 475,487 shares in the last quarter. BlackRock Group LTD increased its position in Pepsico by 2.6% in the second quarter. BlackRock Group LTD now owns 12,726,529 shares of the company’s stock valued at $1,348,250,000 after buying an additional 324,893 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in Pepsico by 6.5% in the second quarter. UBS Asset Management Americas Inc. now owns 7,854,989 shares of the company’s stock valued at $832,157,000 after buying an additional 480,168 shares in the last quarter. Finally, Alliancebernstein L.P. increased its position in Pepsico by 29.4% in the second quarter. Alliancebernstein L.P. now owns 7,834,720 shares of the company’s stock valued at $830,010,000 after buying an additional 1,782,094 shares in the last quarter. 70.10% of the stock is currently owned by institutional investors and hedge funds.

Pepsico, Inc. (NYSE:PEP) opened at 103.48 on Friday. Pepsico, Inc. has a 1-year low of $96.09 and a 1-year high of $110.94. The firm has a market capitalization of $148.41 billion, a P/E ratio of 22.70 and a beta of 0.51. The stock’s 50 day moving average is $104.10 and its 200-day moving average is $105.84.

The company also recently announced a quarterly dividend, which was paid on Friday, January 6th. Investors of record on Friday, December 2nd were issued a $0.7525 dividend. The ex-dividend date of this dividend was Wednesday, November 30th. This represents a $3.01 annualized dividend and a yield of 2.91%. Pepsico’s payout ratio is 66.01%.

PEP has been the topic of several research reports. Deutsche Bank AG reaffirmed a “buy” rating and set a $120.00 price objective on shares of Pepsico in a report on Monday, October 3rd. Zacks Investment Research downgraded Pepsico from a “buy” rating to a “hold” rating in a report on Friday, November 11th. Vetr raised Pepsico from a “buy” rating to a “strong-buy” rating and set a $113.72 price objective on the stock in a report on Tuesday, November 15th. Finally, Societe Generale raised Pepsico from a “hold” rating to a “buy” rating in a report on Monday, December 12th. Ten investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target 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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