TD Waterhouse Canada Inc. Sells 10,133 Shares of PepsiCo, Inc. $PEP

TD Waterhouse Canada Inc. cut its stake in PepsiCo, Inc. (NASDAQ:PEP) by 9.8% during the third quarter, HoldingsChannel reports. The fund owned 93,233 shares of the company’s stock after selling 10,133 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in PepsiCo were worth $13,111,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in PEP. JCIC Asset Management Inc. bought a new position in PepsiCo in the third quarter worth about $27,000. Evolution Wealth Management Inc. bought a new stake in shares of PepsiCo in the 2nd quarter valued at about $27,000. Vermillion & White Wealth Management Group LLC grew its position in shares of PepsiCo by 107.1% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 234 shares of the company’s stock worth $31,000 after buying an additional 121 shares during the last quarter. Halbert Hargrove Global Advisors LLC raised its stake in shares of PepsiCo by 667.7% during the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 238 shares of the company’s stock worth $33,000 after acquiring an additional 207 shares in the last quarter. Finally, Frazier Financial Advisors LLC lifted its position in PepsiCo by 85.3% during the second quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock valued at $35,000 after acquiring an additional 122 shares during the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PEP has been the topic of several analyst reports. BNP Paribas Exane raised shares of PepsiCo from a “hold” rating to an “outperform” rating and set a $179.00 price target on the stock in a report on Friday, January 16th. Bank of America boosted their target price on PepsiCo from $150.00 to $155.00 and gave the stock a “neutral” rating in a research note on Friday, October 10th. UBS Group reduced their target price on PepsiCo from $172.00 to $170.00 and set a “buy” rating on the stock in a research report on Wednesday, January 14th. DZ Bank raised PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 price target for the company in a report on Tuesday, October 21st. Finally, Evercore ISI boosted their price target on PepsiCo from $150.00 to $152.00 in a research note on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $159.29.

PepsiCo Trading Up 0.1%

Shares of NASDAQ:PEP opened at $148.69 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26. PepsiCo, Inc. has a 52-week low of $127.60 and a 52-week high of $160.15. The stock has a market cap of $203.31 billion, a price-to-earnings ratio of 28.27, a PEG ratio of 4.88 and a beta of 0.42. The business has a 50-day moving average price of $145.79 and a 200-day moving average price of $145.32.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 6th. Stockholders of record on Friday, December 5th were issued a $1.4225 dividend. This represents a $5.69 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Friday, December 5th. PepsiCo’s dividend payout ratio is 108.17%.

PepsiCo 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.