Spectrum Management Group Inc. increased its stake in PepsiCo, Inc. (NASDAQ:PEP) by 26.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,319 shares of the company’s stock after purchasing an additional 274 shares during the quarter. Spectrum Management Group Inc.’s holdings in PepsiCo were worth $146,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PEP. HC Financial Advisors Inc. lifted its holdings in PepsiCo by 4.2% during the 3rd quarter. HC Financial Advisors Inc. now owns 8,967 shares of the company’s stock valued at $1,003,000 after purchasing an additional 363 shares during the last quarter. Lau Associates LLC lifted its holdings in PepsiCo by 7.6% during the 4th quarter. Lau Associates LLC now owns 57,455 shares of the company’s stock valued at $6,348,000 after purchasing an additional 4,035 shares during the last quarter. Meritage Portfolio Management lifted its holdings in PepsiCo by 4.3% during the 4th quarter. Meritage Portfolio Management now owns 5,149 shares of the company’s stock valued at $569,000 after purchasing an additional 210 shares during the last quarter. CWM LLC lifted its holdings in PepsiCo by 155.2% during the 4th quarter. CWM LLC now owns 30,636 shares of the company’s stock valued at $3,385,000 after purchasing an additional 18,630 shares during the last quarter. Finally, Pflug Koory LLC lifted its holdings in PepsiCo by 13.5% during the 4th quarter. Pflug Koory LLC now owns 10,061 shares of the company’s stock valued at $1,112,000 after purchasing an additional 1,200 shares during the last quarter. 71.44% of the stock is owned by institutional investors.
Shares of NASDAQ PEP opened at $130.07 on Thursday. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 1.99. PepsiCo, Inc. has a 52 week low of $99.61 and a 52 week high of $130.87. The firm has a market capitalization of $180.91 billion, a P/E ratio of 22.98, a P/E/G ratio of 3.35 and a beta of 0.66.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a $0.955 dividend. The ex-dividend date is Thursday, June 6th. This represents a $3.82 dividend on an annualized basis and a dividend yield of 2.94%. This is a boost from PepsiCo’s previous quarterly dividend of $0.93. PepsiCo’s dividend payout ratio (DPR) is presently 65.55%.
In related news, CEO Vivek Sankaran sold 13,000 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $117.28, for a total value of $1,524,640.00. Following the transaction, the chief executive officer now owns 90,379 shares in the company, valued at $10,599,649.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Ramon Laguarta sold 15,431 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $129.43, for a total value of $1,997,234.33. Following the completion of the transaction, the chairman now owns 232,394 shares in the company, valued at approximately $30,078,755.42. The disclosure for this sale can be found here. Insiders sold 61,494 shares of company stock worth $7,698,345 in the last 90 days. 0.28% of the stock is owned by company insiders.
A number of equities research analysts have recently weighed in on the company. BidaskClub raised PepsiCo from a “hold” rating to a “buy” rating in a report on Wednesday, May 15th. Zacks Investment Research downgraded PepsiCo from a “hold” rating to a “sell” rating in a report on Wednesday, January 23rd. Wells Fargo & Co lifted their target price on PepsiCo from $120.00 to $127.00 and gave the stock a “positive” rating in a report on Tuesday, May 14th. Deutsche Bank lifted their target price on PepsiCo from $120.00 to $131.00 and gave the stock a “hold” rating in a report on Thursday, April 18th. Finally, SunTrust Banks lifted their target price on PepsiCo to $120.00 and gave the stock a “hold” rating in a report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have issued a buy rating to the company. PepsiCo presently has an average rating of “Buy” and a consensus price target of $124.65.
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.
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