Los Angeles Capital Management & Equity Research Inc. grew its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 98.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 541,626 shares of the company’s stock after buying an additional 269,300 shares during the quarter. Los Angeles Capital Management & Equity Research Inc.’s holdings in PepsiCo were worth $60,554,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of the stock. IFP Advisors Inc increased its position in PepsiCo by 1.2% in the second quarter. IFP Advisors Inc now owns 36,628 shares of the company’s stock worth $3,988,000 after buying an additional 443 shares during the period. R.M.SINCERBEAUX Capital Management LLC increased its holdings in shares of PepsiCo by 22.5% during the second quarter. R.M.SINCERBEAUX Capital Management LLC now owns 2,450 shares of the company’s stock valued at $267,000 after purchasing an additional 450 shares during the period. Edgemoor Investment Advisors Inc. increased its holdings in shares of PepsiCo by 6.7% during the second quarter. Edgemoor Investment Advisors Inc. now owns 7,214 shares of the company’s stock valued at $785,000 after purchasing an additional 450 shares during the period. Sigma Planning Corp increased its holdings in shares of PepsiCo by 1.4% during the second quarter. Sigma Planning Corp now owns 32,120 shares of the company’s stock valued at $3,497,000 after purchasing an additional 450 shares during the period. Finally, Capital Advisors Ltd. LLC increased its holdings in shares of PepsiCo by 19.7% during the third quarter. Capital Advisors Ltd. LLC now owns 2,740 shares of the company’s stock valued at $306,000 after purchasing an additional 450 shares during the period. 70.07% of the stock is currently owned by institutional investors and hedge funds.
PEP has been the topic of a number of research analyst reports. Morgan Stanley lowered their price target on PepsiCo from $127.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, October 4th. JPMorgan Chase & Co. set a $124.00 target price on PepsiCo and gave the company a “buy” rating in a research note on Wednesday, October 3rd. Zacks Investment Research raised PepsiCo from a “hold” rating to a “buy” rating and set a $126.00 target price for the company in a research note on Tuesday, September 11th. BidaskClub raised PepsiCo from a “hold” rating to a “buy” rating in a research note on Friday, October 26th. Finally, ValuEngine raised PepsiCo from a “hold” rating to a “buy” rating in a research note on Saturday, December 1st. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $118.32.
NASDAQ:PEP opened at $110.58 on Wednesday. The company has a debt-to-equity ratio of 2.95, a current ratio of 1.31 and a quick ratio of 1.15. PepsiCo, Inc. has a 1-year low of $95.94 and a 1-year high of $122.51. The firm has a market capitalization of $155.95 billion, a P/E ratio of 21.14, a P/E/G ratio of 2.64 and a beta of 0.67.
The business also recently declared a quarterly dividend, which was paid on Monday, January 7th. Investors of record on Friday, December 7th were given a $0.9275 dividend. The ex-dividend date of this dividend was Thursday, December 6th. This represents a $3.71 dividend on an annualized basis and a dividend yield of 3.36%. PepsiCo’s dividend payout ratio (DPR) is 70.94%.
In related news, CEO Mike Spanos sold 20,074 shares of the stock in a transaction dated Wednesday, October 31st. The stock was sold at an average price of $112.42, for a total value of $2,256,719.08. Following the completion of the sale, the chief executive officer now directly owns 35,520 shares of the company’s stock, valued at approximately $3,993,158.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Mehmood Khan sold 168,295 shares of the stock in a transaction dated Tuesday, October 23rd. The stock was sold at an average price of $110.12, for a total value of $18,532,645.40. Following the completion of the sale, the executive vice president now directly owns 173,702 shares of the company’s stock, valued at $19,128,064.24. The disclosure for this sale can be found here. Insiders sold a total of 200,393 shares of company stock valued at $22,075,812 in the last quarter. 0.27% of the stock is currently owned by corporate insiders.
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PepsiCo, Inc operates as a food and beverage company worldwide. Its Frito-Lay North America segment offers Lay's and Ruffles potato chips; Doritos, Tostitos, and Santitas tortilla chips; and Cheetos snacks, branded dips, and Fritos corn chips. The company's 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 brands Quaker, Aunt Jemima, Cap'n crunch, life, Quaker Chewy, and Rice-A-Roni.
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