Viking Fund Management LLC Reduces Position in PepsiCo, Inc. (NASDAQ:PEP)

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Viking Fund Management LLC trimmed its position in PepsiCo, Inc. (NASDAQ:PEP) by 6.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 27,500 shares of the company’s stock after selling 2,000 shares during the period. Viking Fund Management LLC’s holdings in PepsiCo were worth $3,758,000 as of its most recent SEC filing.

Several other institutional investors have 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 3rd quarter. United Asset Strategies Inc. now owns 15,266 shares of the company’s stock valued at $2,093,000 after purchasing an additional 816 shares during the period. AQR Capital Management LLC grew its stake in PepsiCo by 27.6% during the 2nd quarter. AQR Capital Management LLC now owns 3,484,704 shares of the company’s stock worth $456,949,000 after buying an additional 754,455 shares during the last quarter. Commonwealth Equity Services LLC grew its stake in PepsiCo by 2.4% during the 3rd quarter. Commonwealth Equity Services LLC now owns 677,097 shares of the company’s stock worth $92,830,000 after buying an additional 16,041 shares during the last quarter. Assetmark Inc. grew its stake in PepsiCo by 19.0% during the 2nd quarter. Assetmark Inc. now owns 5,417 shares of the company’s stock worth $710,000 after buying an additional 864 shares during the last quarter. Finally, Great Lakes Advisors LLC increased its position in PepsiCo by 6.8% during the third quarter. Great Lakes Advisors LLC now owns 60,188 shares of the company’s stock worth $8,252,000 after buying an additional 3,843 shares during the period. 71.14% of the stock is owned by institutional investors and hedge funds.

PepsiCo stock opened at $139.20 on Thursday. The company has a debt-to-equity ratio of 2.08, a current ratio of 0.95 and a quick ratio of 0.77. The business has a 50 day simple moving average of $136.51 and a 200-day simple moving average of $134.57. PepsiCo, Inc. has a 12 month low of $107.70 and a 12 month high of $140.45. The stock has a market capitalization of $190.83 billion, a PE ratio of 24.59, a price-to-earnings-growth ratio of 3.30 and a beta of 0.53.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Friday, December 6th were given a $0.955 dividend. 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 dividend payout ratio (DPR) is 67.49%.

PEP has been the subject of a number of research reports. BMO Capital Markets reiterated a “market perform” rating and issued a $133.00 price objective (up previously from $128.00) on shares of PepsiCo in a research note on Friday, October 4th. Evercore ISI restated a “hold” rating on shares of PepsiCo in a research report on Sunday, December 15th. Citigroup lifted their target price on shares of PepsiCo from $139.00 to $143.00 and gave the company a “neutral” rating in a report on Friday, October 4th. Morgan Stanley downgraded shares of PepsiCo from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 16th. Finally, Credit Suisse Group upped their price target on shares of PepsiCo from $117.00 to $126.00 and gave the company an “underperform” rating in a research report on Friday, October 4th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $135.53.

PepsiCo Profile

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.

Further Reading: What are gap-down stocks?

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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