Waters Parkerson & CO. LLC Boosts Position in PepsiCo, Inc. $PEP

Waters Parkerson & CO. LLC lifted its position in PepsiCo, Inc. (NASDAQ:PEP) by 3.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 210,226 shares of the company’s stock after buying an additional 6,144 shares during the quarter. PepsiCo makes up approximately 1.4% of Waters Parkerson & CO. LLC’s portfolio, making the stock its 22nd biggest holding. Waters Parkerson & CO. LLC’s holdings in PepsiCo were worth $29,524,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Evolution Wealth Management Inc. purchased a new position in shares of PepsiCo during the 2nd quarter valued at $27,000. Legend Financial Advisors Inc. bought a new stake in PepsiCo during the second quarter valued at $29,000. Vermillion & White Wealth Management Group LLC grew its position in PepsiCo by 107.1% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 234 shares of the company’s stock worth $31,000 after buying an additional 121 shares in the last quarter. Halbert Hargrove Global Advisors LLC raised its holdings in shares of PepsiCo by 667.7% in the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 238 shares of the company’s stock valued at $33,000 after acquiring an additional 207 shares in the last quarter. Finally, Frazier Financial Advisors LLC boosted its position in shares of PepsiCo by 85.3% during the 2nd quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock valued at $35,000 after acquiring an additional 122 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Down 0.2%

Shares of PEP opened at $146.32 on Friday. The firm has a fifty day simple moving average of $145.62 and a two-hundred day simple moving average of $144.61. The stock has a market capitalization of $200.07 billion, a P/E ratio of 27.82, a PEG ratio of 4.80 and a beta of 0.42. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $160.15.

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Stockholders of record on Friday, December 5th were paid a dividend of $1.4225 per share. The ex-dividend date of this dividend was Friday, December 5th. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.9%. PepsiCo’s payout ratio is presently 108.17%.

Wall Street Analysts Forecast Growth

PEP has been the topic of several research analyst reports. Barclays set a $148.00 price objective on shares of PepsiCo in a research report on Friday. Rothschild & Co Redburn upped their target price on shares of PepsiCo from $117.00 to $120.00 and gave the stock a “sell” rating in a research report on Monday, December 15th. JPMorgan Chase & Co. upgraded PepsiCo from a “neutral” rating to an “overweight” rating and raised their price target for the company from $151.00 to $164.00 in a research report on Wednesday, December 10th. UBS Group cut their price objective on PepsiCo from $172.00 to $170.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Bank of America boosted their target price on PepsiCo from $150.00 to $155.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. Ten equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $161.32.

PepsiCo Company Profile

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.