Quotient Wealth Partners LLC lessened its holdings in PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 13.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,122 shares of the company’s stock after selling 1,102 shares during the period. Quotient Wealth Partners LLC’s holdings in PepsiCo were worth $1,211,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Flossbach Von Storch AG raised its holdings in shares of PepsiCo by 67.2% during the first quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock worth $798,047,000 after acquiring an additional 1,832,385 shares in the last quarter. PineStone Asset Management Inc. increased its position in PepsiCo by 125.2% in the 2nd quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock worth $452,003,000 after purchasing an additional 1,523,631 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of PepsiCo by 429.3% during the 1st quarter. Van ECK Associates Corp now owns 1,454,793 shares of the company’s stock worth $254,603,000 after purchasing an additional 1,179,922 shares in the last quarter. Confluence Investment Management LLC acquired a new stake in shares of PepsiCo during the 1st quarter valued at about $166,243,000. Finally, Legal & General Group Plc increased its holdings in PepsiCo by 7.2% in the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock worth $2,234,400,000 after buying an additional 905,468 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.
PepsiCo Stock Performance
Shares of PEP stock traded up $0.19 during mid-day trading on Thursday, reaching $172.73. The stock had a trading volume of 2,195,343 shares, compared to its average volume of 5,498,111. The firm has a market cap of $237.47 billion, a PE ratio of 24.95, a P/E/G ratio of 3.07 and a beta of 0.53. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.87. PepsiCo, Inc. has a one year low of $157.43 and a one year high of $183.41. The firm’s 50 day simple moving average is $173.62 and its 200 day simple moving average is $172.06.
PepsiCo Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 6th were issued a $1.355 dividend. The ex-dividend date was Friday, September 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.14%. PepsiCo’s payout ratio is presently 78.66%.
Wall Street Analysts Forecast Growth
Several research analysts have recently commented on the stock. DZ Bank lowered shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target on the stock. in a research note on Friday, July 19th. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a research note on Wednesday. Wells Fargo & Company lowered their price target on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Jefferies Financial Group decreased their price objective on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Finally, Morgan Stanley downgraded shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price on the stock. in a report on Friday, September 20th. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $184.07.
Read Our Latest Stock Analysis on PEP
About PepsiCo
PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of various beverages and convenient foods worldwide. The company operates through seven segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region.
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