Eldred Rock Partners LLC Increases Position in PepsiCo, Inc. (NASDAQ:PEP)

Eldred Rock Partners LLC increased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 64,462 shares of the company’s stock after acquiring an additional 291 shares during the period. PepsiCo comprises 3.3% of Eldred Rock Partners LLC’s portfolio, making the stock its 16th biggest position. Eldred Rock Partners LLC’s holdings in PepsiCo were worth $9,793,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of PEP. International Assets Investment Management LLC grew its position in shares of PepsiCo by 17,113.0% during the 3rd quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock worth $547,626,000 after buying an additional 3,201,676 shares in the last quarter. State Street Corp increased its position in PepsiCo by 5.1% during the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock valued at $9,738,429,000 after purchasing an additional 2,775,679 shares during the period. Franklin Resources Inc. lifted its position in shares of PepsiCo by 21.1% in the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock worth $2,293,049,000 after purchasing an additional 2,264,445 shares during the period. Swedbank AB raised its stake in PepsiCo by 211.4% in the third quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock worth $398,847,000 after buying an additional 1,592,343 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in PepsiCo by 5.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock valued at $3,632,413,000 after acquiring an additional 1,125,059 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on PEP. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. UBS Group lowered their price objective on PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a research report on Thursday. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a research note on Thursday, October 10th. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $178.60.

PepsiCo Price Performance

Shares of PEP opened at $148.25 on Monday. The business’s 50-day moving average is $155.37 and its two-hundred day moving average is $165.86. The company has a market capitalization of $203.40 billion, a P/E ratio of 21.87, a P/E/G ratio of 2.57 and a beta of 0.54. PepsiCo, Inc. has a fifty-two week low of $141.51 and a fifty-two week high of $183.41. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89.

PepsiCo Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were given a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a yield of 3.66%. The ex-dividend date was Friday, December 6th. PepsiCo’s dividend payout ratio is currently 79.94%.

PepsiCo 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.