Carret Asset Management LLC lowered its position in shares of Pepsico, Inc. (NYSE:PEP) by 0.2% during the third quarter, Holdings Channel reports. The institutional investor owned 85,104 shares of the company’s stock after selling 200 shares during the period. Pepsico comprises 1.7% of Carret Asset Management LLC’s investment portfolio, making the stock its 12th largest position. Carret Asset Management LLC’s holdings in Pepsico were worth $9,257,000 as of its most recent filing with the SEC.
Other large investors have also bought and sold shares of the company. Bank of Montreal Can acquired a new stake in Pepsico during the second quarter worth approximately $519,379,000. Vanguard Group Inc. boosted its stake in Pepsico by 2.3% in the second quarter. Vanguard Group Inc. now owns 100,515,744 shares of the company’s stock worth $10,648,637,000 after buying an additional 2,290,350 shares in the last quarter. First Eagle Investment Management LLC boosted its stake in Pepsico by 106.7% in the third quarter. First Eagle Investment Management LLC now owns 2,469,429 shares of the company’s stock worth $268,600,000 after buying an additional 1,274,477 shares in the last quarter. Creative Planning boosted its stake in Pepsico by 298.4% in the third quarter. Creative Planning now owns 761,138 shares of the company’s stock worth $82,789,000 after buying an additional 570,091 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in Pepsico by 6.9% in the second quarter. PNC Financial Services Group Inc. now owns 7,366,807 shares of the company’s stock worth $780,439,000 after buying an additional 475,047 shares in the last quarter. 70.27% of the stock is currently owned by institutional investors and hedge funds.
Shares of Pepsico, Inc. (NYSE:PEP) traded up 0.99% during trading on Tuesday, reaching $105.61. 3,980,288 shares of the company were exchanged. The stock has a market capitalization of $151.46 billion, a P/E ratio of 23.17 and a beta of 0.53. The firm has a 50-day moving average price of $103.92 and a 200-day moving average price of $105.56. Pepsico, Inc. has a 1-year low of $96.09 and a 1-year high of $110.94.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 3rd will be paid a $0.7525 dividend. The ex-dividend date of this dividend is Wednesday, March 1st. This represents a $3.01 annualized dividend and a dividend yield of 2.85%. Pepsico’s dividend payout ratio (DPR) is 66.01%.
Several equities research analysts have recently issued reports on the company. Zacks Investment Research raised Pepsico from a “hold” rating to a “buy” rating and set a $116.00 target price on the stock in a report on Monday, November 14th. Vetr cut Pepsico from a “buy” rating to a “hold” rating and set a $106.67 target price on the stock. in a report on Wednesday, January 18th. Societe Generale raised Pepsico from a “hold” rating to a “buy” rating in a report on Monday, December 12th. Susquehanna Bancshares Inc reaffirmed a “hold” rating and issued a $120.00 target price on shares of Pepsico in a report on Monday, January 9th. Finally, Barclays PLC assumed coverage on Pepsico in a report on Monday, January 9th. They issued an “equal weight” rating and a $102.00 target price on the stock. Ten research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock 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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