Jarislowsky Fraser Ltd boosted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,106,448 shares of the company's stock after purchasing an additional 5,437 shares during the period. PepsiCo makes up about 1.3% of Jarislowsky Fraser Ltd's portfolio, making the stock its 26th biggest position. Jarislowsky Fraser Ltd owned approximately 0.08% of PepsiCo worth $180,638,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently bought and sold shares of the stock. Paragon Wealth Strategies LLC purchased a new stake in shares of PepsiCo in the 3rd quarter valued at $27,000. Heritage Wealth Management LLC purchased a new stake in shares of PepsiCo in the 2nd quarter valued at $33,000. HBC Financial Services PLLC purchased a new stake in shares of PepsiCo in the 2nd quarter valued at $41,000. Moisand Fitzgerald Tamayo LLC boosted its holdings in shares of PepsiCo by 157.1% in the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 270 shares of the company's stock valued at $44,000 after acquiring an additional 165 shares during the last quarter. Finally, EdgeRock Capital LLC acquired a new position in shares of PepsiCo in the 3rd quarter valued at $50,000. Hedge funds and other institutional investors own 70.76% of the company's stock.
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Analyst Ratings Changes
PEP has been the subject of several analyst reports. Wells Fargo & Company boosted their target price on shares of PepsiCo from $174.00 to $190.00 and gave the company an "equal weight" rating in a research note on Tuesday, January 3rd. Credit Suisse Group reduced their price objective on shares of PepsiCo from $173.00 to $172.00 and set a "neutral" rating for the company in a research report on Monday, October 3rd. Royal Bank of Canada upped their price objective on shares of 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. reduced their price objective on shares of PepsiCo from $188.00 to $186.00 and set an "overweight" rating for the company in a research report on Friday, September 30th. Finally, Wedbush upped their price objective on shares of PepsiCo from $185.00 to $190.00 in a research report on Thursday, October 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, PepsiCo presently has an average rating of "Moderate Buy" and a consensus price target of $183.36.
PepsiCo Trading Down 0.9 %
Shares of PEP stock opened at $168.71 on Friday. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.92 and a quick ratio of 0.72. The firm has a market cap of $232.43 billion, a PE ratio of 24.35, a price-to-earnings-growth ratio of 3.08 and a beta of 0.57. The company has a 50-day moving average of $180.01 and a two-hundred day moving average of $175.94. PepsiCo, Inc. has a 1-year low of $153.37 and a 1-year high of $186.84.
PepsiCo Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, January 6th. Stockholders of record on Friday, December 2nd were given a dividend of $1.15 per share. The ex-dividend date was Thursday, December 1st. This represents a $4.60 annualized dividend and a dividend yield of 2.73%. PepsiCo's dividend payout ratio is presently 65.81%.
About PepsiCo
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).