Bank of Stockton grew its stake in shares of PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 2.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,716 shares of the company’s stock after purchasing an additional 60 shares during the period. Bank of Stockton’s holdings in PepsiCo were worth $448,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of PEP. Charles Schwab Investment Management Inc. raised its stake in PepsiCo by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,001,928 shares of the company’s stock valued at $3,227,287,000 after purchasing an additional 578,083 shares during the period. Norges Bank purchased a new stake in PepsiCo in the 4th quarter worth about $2,686,139,000. Franklin Resources Inc. boosted its position in PepsiCo by 17.7% during the 4th quarter. Franklin Resources Inc. now owns 8,954,951 shares of the company’s stock worth $1,520,909,000 after acquiring an additional 1,345,065 shares during the period. Massachusetts Financial Services Co. MA grew its stake in PepsiCo by 15.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 8,421,163 shares of the company’s stock valued at $1,430,250,000 after acquiring an additional 1,105,127 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of PepsiCo by 6.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,644,059 shares of the company’s stock valued at $1,128,413,000 after purchasing an additional 375,963 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.
PepsiCo Price Performance
Shares of PEP stock traded up $0.13 during trading hours on Friday, hitting $175.87. The company had a trading volume of 5,283,617 shares, compared to its average volume of 5,466,141. PepsiCo, Inc. has a 12 month low of $155.83 and a 12 month high of $183.41. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.64 and a current ratio of 0.83. The firm’s fifty day moving average is $169.18 and its 200 day moving average is $170.68. The firm has a market capitalization of $241.57 billion, a price-to-earnings ratio of 25.53, a PEG ratio of 2.98 and a beta of 0.52.
PepsiCo Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be issued a $1.355 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.08%. PepsiCo’s dividend payout ratio is 78.66%.
Analyst Ratings Changes
PEP has been the subject of several recent research reports. Bank of America cut their price objective on PepsiCo from $210.00 to $190.00 and set a “buy” rating for the company in a report on Monday, July 8th. Jefferies Financial Group lowered their price target on PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. JPMorgan Chase & Co. reduced their target price on shares of PepsiCo from $184.00 to $182.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. StockNews.com lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Morgan Stanley reduced their price objective on shares of PepsiCo from $190.00 to $185.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, PepsiCo presently has a consensus rating of “Hold” and a consensus price target of $185.53.
View Our Latest Analysis on PEP
About PepsiCo
PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of various beverages and convenient foods worldwide. The company operates through seven segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region.
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