Graves Light Private Wealth Management Inc. reduced its stake in PepsiCo, Inc. (NASDAQ:PEP) by 1.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 8,721 shares of the company’s stock after selling 112 shares during the period. Graves Light Private Wealth Management Inc.’s holdings in PepsiCo were worth $1,192,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of PEP. United Asset Strategies Inc. lifted its stake in PepsiCo by 5.6% during the 3rd quarter. United Asset Strategies Inc. now owns 15,266 shares of the company’s stock worth $2,093,000 after acquiring an additional 816 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in PepsiCo by 2.4% during the 3rd quarter. Commonwealth Equity Services LLC now owns 677,097 shares of the company’s stock valued at $92,830,000 after acquiring an additional 16,041 shares during the period. Great Lakes Advisors LLC grew its position in PepsiCo by 6.8% in the 3rd quarter. Great Lakes Advisors LLC now owns 60,188 shares of the company’s stock valued at $8,252,000 after acquiring an additional 3,843 shares in the last quarter. Auxier Asset Management grew its position in PepsiCo by 0.3% in the 2nd quarter. Auxier Asset Management now owns 109,908 shares of the company’s stock valued at $14,412,000 after acquiring an additional 375 shares in the last quarter. Finally, Enterprise Bank & Trust Co grew its position in PepsiCo by 7.9% in the 3rd quarter. Enterprise Bank & Trust Co now owns 18,982 shares of the company’s stock valued at $2,603,000 after acquiring an additional 1,389 shares in the last quarter. 71.18% of the stock is currently owned by institutional investors.
PEP stock opened at $141.86 on Wednesday. The company’s 50 day moving average price is $137.14 and its 200 day moving average price is $134.85. The firm has a market capitalization of $196.98 billion, a price-to-earnings ratio of 16.19, a PEG ratio of 3.40 and a beta of 0.53. PepsiCo, Inc. has a fifty-two week low of $108.00 and a fifty-two week high of $142.12. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.77 and a current ratio of 0.95.
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Friday, December 6th were paid a $0.955 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $3.82 dividend on an annualized basis and a yield of 2.69%. PepsiCo’s dividend payout ratio is currently 67.49%.
Several analysts have recently issued reports on PEP shares. Guggenheim set a $130.00 price target on shares of PepsiCo and gave the stock a “hold” rating in a research report on Thursday, September 26th. Citigroup lifted their price objective on shares of PepsiCo from $139.00 to $143.00 and gave the company a “neutral” rating in a report on Friday, October 4th. Evercore ISI reaffirmed a “hold” rating on shares of PepsiCo in a research note on Sunday, December 15th. BidaskClub upgraded shares of PepsiCo from a “strong sell” rating to a “sell” rating in a report on Friday, January 17th. Finally, Credit Suisse Group increased their target price on shares of PepsiCo from $117.00 to $126.00 and gave the stock an “underperform” rating in a report on Friday, October 4th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have given a buy rating to the company. PepsiCo presently has an average rating of “Hold” and a consensus target price of $135.53.
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.
Read More: What are gap-down stocks?
Want to see what other hedge funds are holding PEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PepsiCo, Inc. (NASDAQ:PEP).
Receive News & Ratings for PepsiCo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PepsiCo and related companies with MarketBeat.com's FREE daily email newsletter.