Somerville Kurt F Cuts Position in PepsiCo, Inc. (NASDAQ:PEP)

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Somerville Kurt F decreased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 42,355 shares of the company’s stock after selling 1,135 shares during the period. Somerville Kurt F’s holdings in PepsiCo were worth $5,787,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vista Private Wealth Partners. LLC purchased a new position in PepsiCo in the third quarter worth about $36,000. Cordasco Financial Network lifted its stake in shares of PepsiCo by 50.0% in the third quarter. Cordasco Financial Network now owns 300 shares of the company’s stock worth $41,000 after buying an additional 100 shares in the last quarter. 1 North Wealth Services LLC bought a new position in shares of PepsiCo in the third quarter worth approximately $44,000. Simon Quick Advisors LLC increased its position in shares of PepsiCo by 53.9% during the fourth quarter. Simon Quick Advisors LLC now owns 337 shares of the company’s stock valued at $46,000 after acquiring an additional 118 shares in the last quarter. Finally, Fulcrum Capital LLC increased its position in shares of PepsiCo by 6.0% during the third quarter. Fulcrum Capital LLC now owns 49,732 shares of the company’s stock valued at $47,000 after acquiring an additional 2,834 shares in the last quarter. 71.14% of the stock is owned by institutional investors and hedge funds.

Several research firms recently issued reports on PEP. Deutsche Bank upped their price objective on PepsiCo from $141.00 to $142.00 and gave the company a “hold” rating in a research report on Tuesday, September 24th. JPMorgan Chase & Co. set a $154.00 target price on PepsiCo and gave the company a “buy” rating in a research note on Thursday, October 3rd. Guggenheim set a $130.00 target price on PepsiCo and gave the stock a “hold” rating in a report on Thursday, September 26th. BMO Capital Markets restated a “market perform” rating and issued a $133.00 price target (up previously from $128.00) on shares of PepsiCo in a research note on Friday, October 4th. Finally, Evercore ISI reaffirmed a “hold” rating on shares of PepsiCo in a report on Sunday, December 15th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $135.53.

Shares of PEP opened at $139.20 on Thursday. The firm has a market capitalization of $190.83 billion, a P/E ratio of 24.59, a PEG ratio of 3.30 and a beta of 0.53. The company has a debt-to-equity ratio of 2.08, a current ratio of 0.95 and a quick ratio of 0.77. PepsiCo, Inc. has a one year low of $107.70 and a one year high of $140.45. The business has a fifty day moving average of $136.51 and a 200 day moving average of $134.57.

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Friday, December 6th were issued a $0.955 dividend. This represents a $3.82 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date was Thursday, December 5th. PepsiCo’s dividend payout ratio is 67.49%.

About PepsiCo

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: Dividend Reinvestment Plan (DRIP)

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).

Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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