Eliot Finkel Investment Counsel LLC lowered its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,940 shares of the company’s stock after selling 140 shares during the quarter. Eliot Finkel Investment Counsel LLC’s holdings in PepsiCo were worth $1,566,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its stake in shares of PepsiCo by 2.4% in the 4th quarter. BlackRock Inc. now owns 97,102,071 shares of the company’s stock worth $10,727,836,000 after acquiring an additional 2,275,511 shares during the period. Oregon Public Employees Retirement Fund raised its stake in shares of PepsiCo by 10,622.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 34,704,199 shares of the company’s stock worth $314,000 after buying an additional 34,380,553 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of PepsiCo by 3.2% in the fourth quarter. Northern Trust Corp now owns 20,185,841 shares of the company’s stock valued at $2,230,132,000 after buying an additional 623,727 shares during the period. FMR LLC boosted its stake in PepsiCo by 0.8% during the first quarter. FMR LLC now owns 10,952,213 shares of the company’s stock valued at $1,342,194,000 after buying an additional 84,974 shares in the last quarter. Finally, Yacktman Asset Management LP boosted its stake in PepsiCo by 0.9% during the fourth quarter. Yacktman Asset Management LP now owns 7,691,249 shares of the company’s stock valued at $849,729,000 after buying an additional 68,176 shares in the last quarter. Institutional investors and hedge funds own 71.51% of the company’s stock.
Shares of PepsiCo stock traded down $0.54 during trading on Tuesday, hitting $135.86. 3,101,189 shares of the stock traded hands, compared to its average volume of 4,688,507. The company has a fifty day moving average price of $131.91 and a two-hundred day moving average price of $127.68. PepsiCo, Inc. has a twelve month low of $104.53 and a twelve month high of $139.18. The stock has a market cap of $192.07 billion, a P/E ratio of 24.00, a PEG ratio of 3.57 and a beta of 0.56. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.66 and a current ratio of 0.86.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be issued a $0.955 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.82 annualized dividend and a yield of 2.81%. PepsiCo’s dividend payout ratio (DPR) is currently 67.49%.
A number of brokerages have weighed in on PEP. Atlantic Securities assumed coverage on shares of PepsiCo in a report on Monday, July 29th. They issued an “overweight” rating and a $145.00 price target for the company. Argus restated a “buy” rating on shares of PepsiCo in a report on Thursday, July 11th. SunTrust Banks reaffirmed a “hold” rating and issued a $125.00 price target on shares of PepsiCo in a report on Wednesday, July 10th. BMO Capital Markets reissued an “average” rating and set a $128.00 price objective on shares of PepsiCo in a research note on Wednesday, July 10th. Finally, Bank of America boosted their target price on PepsiCo from $135.00 to $142.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $130.20.
In other PepsiCo news, CEO Steven C. Williams sold 2,420 shares of the firm’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $133.95, for a total value of $324,159.00. Following the sale, the chief executive officer now directly owns 54,920 shares in the company, valued at approximately $7,356,534. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kirk Tanner sold 9,573 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $128.15, for a total transaction of $1,226,779.95. Following the completion of the sale, the chief executive officer now owns 105,350 shares of the company’s stock, valued at approximately $13,500,602.50. The disclosure for this sale can be found here. 0.28% of the stock is currently owned by insiders.
PepsiCo Company Profile
PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its 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 Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.
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