Rhumbline Advisers trimmed its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,455,946 shares of the company’s stock after selling 91,412 shares during the quarter. Rhumbline Advisers’ holdings in PepsiCo were worth $274,575,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. WealthTrust Arizona LLC grew its stake in shares of PepsiCo by 268.7% in the 3rd quarter. WealthTrust Arizona LLC now owns 1,106 shares of the company’s stock valued at $124,000 after purchasing an additional 806 shares during the last quarter. Patriot Financial Group Insurance Agency LLC grew its stake in shares of PepsiCo by 196.0% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,119 shares of the company’s stock valued at $125,000 after purchasing an additional 741 shares during the last quarter. Canton Hathaway LLC purchased a new stake in shares of PepsiCo in the third quarter valued at approximately $127,000. Fort L.P. purchased a new stake in shares of PepsiCo in the second quarter valued at approximately $125,000. Finally, NuWave Investment Management LLC boosted its stake in shares of PepsiCo by 22,266.7% in the third quarter. NuWave Investment Management LLC now owns 1,342 shares of the company’s stock valued at $150,000 after buying an additional 1,336 shares in the last quarter. Institutional investors own 70.05% of the company’s stock.
Several equities research analysts have commented on the company. BidaskClub lowered PepsiCo from a “buy” rating to a “hold” rating in a research note on Wednesday. Zacks Investment Research lowered PepsiCo from a “hold” rating to a “sell” rating in a research note on Monday, January 7th. ValuEngine lowered PepsiCo from a “buy” rating to a “hold” rating in a research note on Saturday, January 5th. Finally, UBS Group assumed coverage on PepsiCo in a research note on Thursday, December 13th. They set a “neutral” rating and a $123.00 price target for the company. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $117.50.
In related news, EVP Mehmood Khan sold 168,295 shares of the stock in a transaction dated Tuesday, October 23rd. The stock was sold at an average price of $110.12, for a total value of $18,532,645.40. Following the completion of the transaction, the executive vice president now owns 173,702 shares of the company’s stock, valued at $19,128,064.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mike Spanos sold 20,074 shares of the stock in a transaction dated Wednesday, October 31st. The shares were sold at an average price of $112.42, for a total value of $2,256,719.08. Following the completion of the transaction, the chief executive officer now directly owns 35,520 shares of the company’s stock, valued at approximately $3,993,158.40. The disclosure for this sale can be found here. Corporate insiders own 0.27% of the company’s stock.
Shares of NASDAQ PEP opened at $109.22 on Friday. PepsiCo, Inc. has a 1-year low of $95.94 and a 1-year high of $122.51. The company has a quick ratio of 1.15, a current ratio of 1.31 and a debt-to-equity ratio of 2.95. The stock has a market capitalization of $152.93 billion, a PE ratio of 20.88, a P/E/G ratio of 2.64 and a beta of 0.67.
The business also recently announced a quarterly dividend, which was paid on Monday, January 7th. Stockholders of record on Friday, December 7th were given a $0.9275 dividend. This represents a $3.71 annualized dividend and a dividend yield of 3.40%. The ex-dividend date was Thursday, December 6th. PepsiCo’s payout ratio is 70.94%.
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PepsiCo Company Profile
PepsiCo, Inc operates as a food and beverage company worldwide. Its Frito-Lay North America segment offers Lay's and Ruffles potato chips; Doritos, Tostitos, and Santitas tortilla chips; and Cheetos snacks, branded dips, and Fritos corn chips. The company's Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the brands Quaker, Aunt Jemima, Cap'n crunch, life, Quaker Chewy, and Rice-A-Roni.
See Also: Why is the ex-dividend date different from the record date?
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