Midwest Professional Planners LTD. decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 20.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,540 shares of the company’s stock after selling 653 shares during the period. Midwest Professional Planners LTD.’s holdings in PepsiCo were worth $284,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PEP. Cognios Capital LLC increased its position in shares of PepsiCo by 8.7% during the second quarter. Cognios Capital LLC now owns 19,976 shares of the company’s stock worth $2,173,000 after acquiring an additional 1,591 shares in the last quarter. QCI Asset Management Inc. NY increased its position in shares of PepsiCo by 2.3% during the second quarter. QCI Asset Management Inc. NY now owns 149,139 shares of the company’s stock worth $16,237,000 after acquiring an additional 3,391 shares in the last quarter. Capital Advisors Inc. OK increased its position in shares of PepsiCo by 16.1% during the second quarter. Capital Advisors Inc. OK now owns 161,847 shares of the company’s stock worth $17,620,000 after acquiring an additional 22,444 shares in the last quarter. Bank of New York Mellon Corp grew its position in PepsiCo by 20.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 18,389,677 shares of the company’s stock worth $2,002,085,000 after purchasing an additional 3,115,305 shares in the last quarter. Finally, TradeLink Capital LLC bought a new stake in PepsiCo in the 2nd quarter worth about $3,495,000. Institutional investors own 70.17% of the company’s stock.
PEP opened at $112.90 on Wednesday. The company has a debt-to-equity ratio of 2.95, a quick ratio of 1.15 and a current ratio of 1.31. The stock has a market capitalization of $158.36 billion, a price-to-earnings ratio of 21.59, a P/E/G ratio of 2.75 and a beta of 0.62. PepsiCo, Inc. has a twelve month low of $95.94 and a twelve month high of $122.00.
The business also recently announced a quarterly dividend, which was paid on Monday, January 7th. Shareholders of record on Friday, December 7th were paid a $0.9275 dividend. This represents a $3.71 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date was Thursday, December 6th. PepsiCo’s payout ratio is 70.94%.
PEP has been the subject of a number of recent analyst reports. ValuEngine raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Saturday, December 1st. BidaskClub raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Thursday, November 15th. Zacks Investment Research raised shares of PepsiCo from a “sell” rating to a “hold” rating in a research report on Monday, October 29th. Finally, UBS Group initiated coverage on shares of PepsiCo in a research report on Thursday, December 13th. They issued a “neutral” rating and a $123.00 price objective for the company. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the stock. PepsiCo presently has an average rating of “Hold” and a consensus target price of $117.12.
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PepsiCo, Inc operates as a food and beverage company worldwide. Its Frito-Lay North America segment offers Lay's and Ruffles potato chips; Doritos, Tostitos, and Santitas tortilla chips; and Cheetos snacks, branded dips, and Fritos corn chips. The company's 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 brands Quaker, Aunt Jemima, Cap'n crunch, life, Quaker Chewy, and Rice-A-Roni.
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