Deane Retirement Strategies Inc. trimmed its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 47.7% in the fourth quarter, HoldingsChannel reports. The firm owned 10,494 shares of the company’s stock after selling 9,570 shares during the quarter. Deane Retirement Strategies Inc.’s holdings in PepsiCo were worth $1,434,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently added to or reduced their stakes in the company. United Asset Strategies Inc. boosted its position in shares of PepsiCo by 5.6% in the third quarter. United Asset Strategies Inc. now owns 15,266 shares of the company’s stock valued at $2,093,000 after acquiring an additional 816 shares during the period. AQR Capital Management LLC boosted its position in shares of PepsiCo by 27.6% in the second quarter. AQR Capital Management LLC now owns 3,484,704 shares of the company’s stock valued at $456,949,000 after acquiring an additional 754,455 shares during the period. Commonwealth Equity Services LLC boosted its position in shares of PepsiCo by 2.4% in the third 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. Assetmark Inc. boosted its position in shares of PepsiCo by 19.0% in the second quarter. Assetmark Inc. now owns 5,417 shares of the company’s stock valued at $710,000 after acquiring an additional 864 shares during the period. Finally, Great Lakes Advisors LLC boosted its position in shares of PepsiCo by 6.8% in the third 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 during the period. 71.14% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have recently issued reports on PEP shares. Evercore ISI reissued a “hold” rating on shares of PepsiCo in a research report on Sunday, December 15th. ValuEngine cut shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Deutsche Bank boosted their target price on shares of PepsiCo from $141.00 to $142.00 and gave the company a “hold” rating in a research report on Tuesday, September 24th. BMO Capital Markets reissued a “market perform” rating and issued a $133.00 target price (up previously from $128.00) on shares of PepsiCo in a research report on Friday, October 4th. Finally, Morgan Stanley cut shares of PepsiCo from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have assigned a buy rating to the company. PepsiCo has an average rating of “Hold” and an average target price of $135.53.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Friday, December 6th were paid a dividend of $0.955 per share. 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 2.74%. PepsiCo’s payout ratio is 67.49%.
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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