Marietta Wealth Management LLC grew its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,377 shares of the company’s stock after buying an additional 429 shares during the period. Marietta Wealth Management LLC’s holdings in PepsiCo were worth $2,166,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Rothschild & Co. Asset Management US Inc. boosted its stake in shares of PepsiCo by 5.5% during the third quarter. Rothschild & Co. Asset Management US Inc. now owns 403,267 shares of the company’s stock valued at $45,085,000 after purchasing an additional 21,137 shares in the last quarter. Bridgeworth LLC boosted its stake in shares of PepsiCo by 19.9% during the third quarter. Bridgeworth LLC now owns 2,618 shares of the company’s stock valued at $215,000 after purchasing an additional 435 shares in the last quarter. Smith Chas P & Associates PA Cpas lifted its stake in shares of PepsiCo by 0.9% in the third quarter. Smith Chas P & Associates PA Cpas now owns 168,747 shares of the company’s stock worth $18,866,000 after acquiring an additional 1,509 shares during the period. Canada Pension Plan Investment Board lifted its stake in shares of PepsiCo by 26.7% in the third quarter. Canada Pension Plan Investment Board now owns 3,078,280 shares of the company’s stock worth $344,152,000 after acquiring an additional 649,500 shares during the period. Finally, Sustainable Insight Capital Management LLC acquired a new position in shares of PepsiCo in the third quarter worth approximately $205,000. Institutional investors own 72.59% of the company’s stock.
PEP has been the topic of a number of recent analyst reports. Zacks Investment Research lowered PepsiCo from a “hold” rating to a “sell” rating in a research note on Monday, February 4th. ValuEngine upgraded PepsiCo from a “hold” rating to a “buy” rating in a report on Saturday, December 1st. BidaskClub upgraded PepsiCo from a “hold” rating to a “buy” rating in a report on Friday, October 26th. Finally, UBS Group began coverage on PepsiCo in a report on Thursday, December 13th. They issued a “neutral” rating and a $123.00 target price for the company. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the stock. PepsiCo has a consensus rating of “Hold” and a consensus target price of $117.38.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 1st will be issued a dividend of $0.9275 per share. This represents a $3.71 annualized dividend and a yield of 3.25%. PepsiCo’s dividend payout ratio (DPR) is currently 70.94%.
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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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