Simon Quick Advisors LLC boosted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP – Get Rating) by 7.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,520 shares of the company's stock after buying an additional 102 shares during the period. Simon Quick Advisors LLC's holdings in PepsiCo were worth $248,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. increased its stake in PepsiCo by 34.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,128,044 shares of the company's stock worth $188,812,000 after purchasing an additional 286,169 shares during the period. AMI Investment Management Inc. grew its position in shares of PepsiCo by 0.7% during the 1st quarter. AMI Investment Management Inc. now owns 16,627 shares of the company's stock worth $2,783,000 after buying an additional 113 shares in the last quarter. Mather Group LLC. grew its position in shares of PepsiCo by 29.3% during the 1st quarter. Mather Group LLC. now owns 5,562 shares of the company's stock worth $931,000 after buying an additional 1,262 shares in the last quarter. Wsfs Capital Management LLC grew its position in shares of PepsiCo by 117.2% during the 1st quarter. Wsfs Capital Management LLC now owns 2,995 shares of the company's stock worth $501,000 after buying an additional 1,616 shares in the last quarter. Finally, Equitable Holdings Inc. grew its position in shares of PepsiCo by 8.5% during the 1st quarter. Equitable Holdings Inc. now owns 26,909 shares of the company's stock worth $4,504,000 after buying an additional 2,116 shares in the last quarter. Hedge funds and other institutional investors own 70.76% of the company's stock.
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Wall Street Analyst Weigh In
A number of research firms have recently issued reports on PEP. Royal Bank of Canada increased their price target on PepsiCo from $165.00 to $170.00 and gave the stock a "sector perform" rating in a research report on Thursday, October 13th. JPMorgan Chase & Co. dropped their price objective on PepsiCo from $188.00 to $186.00 and set an "overweight" rating on the stock in a research report on Friday, September 30th. Wells Fargo & Company raised their price objective on PepsiCo from $174.00 to $190.00 and gave the company an "equal weight" rating in a research report on Tuesday, January 3rd. Credit Suisse Group dropped their price objective on PepsiCo from $173.00 to $172.00 and set a "neutral" rating on the stock in a research report on Monday, October 3rd. Finally, Barclays raised their price objective on PepsiCo from $183.00 to $185.00 and gave the company an "overweight" rating in a research report on Friday, October 14th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, PepsiCo currently has a consensus rating of "Moderate Buy" and an average target price of $183.36.
PepsiCo Price Performance
Shares of NASDAQ PEP opened at $169.62 on Friday. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.72 and a current ratio of 0.92. The company has a market cap of $233.69 billion, a PE ratio of 24.27, a P/E/G ratio of 3.05 and a beta of 0.57. The business has a 50-day simple moving average of $180.01 and a two-hundred day simple moving average of $175.94. PepsiCo, Inc. has a fifty-two week low of $153.37 and a fifty-two week high of $186.84.
PepsiCo Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 6th. Stockholders of record on Friday, December 2nd were paid a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 2.71%. The ex-dividend date was Thursday, December 1st. PepsiCo's payout ratio is 65.81%.
About PepsiCo
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PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of beverages, food, and snacks. It operates through the following business segments: Frito-Lay North America (FLNA), Quaker Foods North America (QFNA), PepsiCo Beverages North America (PBNA), Latin America (LatAm), Europe, Africa, Middle East, and South Asia (AMESA), and Asia Pacific, Australia and New Zealand, and China Region (APAC).
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