Clarendon Private LLC Takes Position in PepsiCo, Inc. (NASDAQ:PEP)

Clarendon Private LLC acquired a new stake in shares of PepsiCo, Inc. (NASDAQ:PEP) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 4,559 shares of the company’s stock, valued at approximately $693,000.

Several other institutional investors also recently bought and sold shares of the business. State Street Corp grew its position in shares of PepsiCo by 5.1% in the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after buying an additional 2,775,679 shares during the last quarter. Geode Capital Management LLC boosted its stake in PepsiCo by 1.8% in the third quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock valued at $5,170,529,000 after acquiring an additional 543,558 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in PepsiCo by 5.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock worth $3,632,413,000 after purchasing an additional 1,125,059 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of PepsiCo by 21.1% during the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock valued at $2,293,049,000 after purchasing an additional 2,264,445 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of PepsiCo by 2.7% in the 3rd quarter. Wellington Management Group LLP now owns 12,098,551 shares of the company’s stock worth $2,057,359,000 after purchasing an additional 313,468 shares in the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PEP has been the subject of several recent analyst reports. Royal Bank of Canada lowered their price target on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. TD Cowen dropped their target price on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a report on Wednesday. JPMorgan Chase & Co. cut their target price on PepsiCo from $183.00 to $165.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, UBS Group lowered their price target on PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $177.00.

PepsiCo Stock Performance

PEP opened at $149.12 on Friday. The firm has a fifty day moving average price of $153.88 and a 200 day moving average price of $165.31. PepsiCo, Inc. has a 1 year low of $141.51 and a 1 year high of $183.41. The stock has a market cap of $204.59 billion, a P/E ratio of 21.99, a P/E/G ratio of 2.86 and a beta of 0.54. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70.

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were paid a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.63%. The ex-dividend date was Friday, December 6th. PepsiCo’s payout ratio is currently 79.94%.

PepsiCo Company Profile

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.