PepsiCo, Inc. $PEP Stake Raised by Strs Ohio

Strs Ohio increased its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 13.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 652,569 shares of the company’s stock after buying an additional 78,631 shares during the quarter. Strs Ohio’s holdings in PepsiCo were worth $91,647,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in PEP. Claris Advisors LLC MO increased its stake in shares of PepsiCo by 14.1% during the second quarter. Claris Advisors LLC MO now owns 2,490 shares of the company’s stock valued at $329,000 after acquiring an additional 308 shares during the period. Merit Financial Group LLC boosted its stake in PepsiCo by 46.4% during the 2nd quarter. Merit Financial Group LLC now owns 114,344 shares of the company’s stock valued at $15,098,000 after purchasing an additional 36,239 shares in the last quarter. Clayton Financial Group LLC acquired a new position in shares of PepsiCo during the 3rd quarter valued at $872,000. Avantax Advisory Services Inc. raised its stake in shares of PepsiCo by 2.6% in the 2nd quarter. Avantax Advisory Services Inc. now owns 185,961 shares of the company’s stock worth $24,554,000 after buying an additional 4,627 shares in the last quarter. Finally, Naples Global Advisors LLC raised its position in PepsiCo by 2.3% in the second quarter. Naples Global Advisors LLC now owns 26,270 shares of the company’s stock worth $3,469,000 after acquiring an additional 592 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Down 1.6%

Shares of PepsiCo stock opened at $144.40 on Friday. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $160.15. The business has a fifty day simple moving average of $145.78 and a 200 day simple moving average of $144.90. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26. The stock has a market cap of $197.44 billion, a PE ratio of 27.45, a price-to-earnings-growth ratio of 4.81 and a beta of 0.42.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 6th. Investors of record on Friday, December 5th were given a $1.4225 dividend. The ex-dividend date was Friday, December 5th. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.9%. PepsiCo’s dividend payout ratio is currently 108.17%.

Wall Street Analysts Forecast Growth

PEP has been the subject of a number of recent research reports. Barclays set a $148.00 price objective on PepsiCo in a research report on Friday, January 16th. Citigroup lifted their price objective on PepsiCo from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, December 17th. JPMorgan Chase & Co. upgraded shares of PepsiCo from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $151.00 to $164.00 in a research note on Wednesday, December 10th. Weiss Ratings reissued a “hold (c)” rating on shares of PepsiCo in a report on Friday, January 9th. Finally, Wells Fargo & Company increased their target price on PepsiCo from $150.00 to $154.00 and gave the company a “positive” rating in a research note on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, PepsiCo has a consensus rating of “Hold” and a consensus target price of $159.29.

PepsiCo Company Profile

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.