Thompson Siegel & Walmsley LLC raised its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 18.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 52,178 shares of the company’s stock after purchasing an additional 7,980 shares during the period. Thompson Siegel & Walmsley LLC’s holdings in PepsiCo were worth $5,834,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of PEP. Fundsmith Equity Fund L.P. acquired a new position in shares of PepsiCo in the 2nd quarter valued at $836,330,000. Bank of New York Mellon Corp boosted its holdings in PepsiCo by 20.4% in the second quarter. Bank of New York Mellon Corp now owns 18,389,677 shares of the company’s stock valued at $2,002,085,000 after purchasing an additional 3,115,305 shares during the last quarter. Vontobel Asset Management Inc. boosted its holdings in PepsiCo by 287.8% in the second quarter. Vontobel Asset Management Inc. now owns 2,610,837 shares of the company’s stock valued at $291,915,000 after purchasing an additional 1,937,620 shares during the last quarter. BlackRock Inc. boosted its holdings in PepsiCo by 1.4% in the second quarter. BlackRock Inc. now owns 93,852,156 shares of the company’s stock valued at $10,217,684,000 after purchasing an additional 1,291,012 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in PepsiCo by 22.8% in the second quarter. American Century Companies Inc. now owns 5,440,832 shares of the company’s stock valued at $592,343,000 after purchasing an additional 1,011,788 shares during the last quarter. 70.05% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have commented on PEP shares. BMO Capital Markets lowered their price target on shares of PepsiCo from $110.00 to $109.00 and set a “market perform” rating on the stock in a report on Wednesday, October 3rd. Macquarie lowered shares of PepsiCo from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $122.00 to $107.00 in a report on Friday, October 5th. Morgan Stanley reaffirmed an “overweight” rating on shares of PepsiCo in a report on Friday, October 5th. Susquehanna Bancshares lowered their target price on shares of PepsiCo from $136.00 to $135.00 and set a “positive” rating on the stock in a research note on Friday, September 28th. Finally, Royal Bank of Canada increased their target price on shares of PepsiCo to $115.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 3rd. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $117.50.
PEP opened at $110.07 on Friday. PepsiCo, Inc. has a twelve month low of $95.94 and a twelve month high of $122.51. The company has a debt-to-equity ratio of 2.95, a current ratio of 1.31 and a quick ratio of 1.15. The stock has a market cap of $155.37 billion, a P/E ratio of 20.12, a P/E/G ratio of 2.68 and a beta of 0.67.
The business also recently declared a quarterly dividend, which was paid on Monday, January 7th. Investors of record on Friday, December 7th were given a dividend of $0.9275 per share. The ex-dividend date of this dividend was Thursday, December 6th. This represents a $3.71 annualized dividend and a dividend yield of 3.37%. PepsiCo’s dividend payout ratio (DPR) is presently 70.94%.
In other PepsiCo news, EVP Mehmood Khan sold 168,295 shares of the stock in a transaction dated Tuesday, October 23rd. The shares were sold at an average price of $110.12, for a total value of $18,532,645.40. Following the completion of the sale, the executive vice president now owns 173,702 shares in the company, valued at approximately $19,128,064.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 transaction of $2,256,719.08. Following the completion of the sale, the chief executive officer now 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. 0.27% of the stock is owned by corporate insiders.
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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.
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