Marietta Wealth Management LLC raised its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 4.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 49,788 shares of the company’s stock after buying an additional 1,971 shares during the period. PepsiCo makes up approximately 1.2% of Marietta Wealth Management LLC’s holdings, making the stock its 25th largest holding. Marietta Wealth Management LLC’s holdings in PepsiCo were worth $8,466,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Global Wealth Strategies & Associates lifted its position in PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after acquiring an additional 59 shares during the last quarter. Valued Wealth Advisors LLC lifted its holdings in PepsiCo by 77.5% during the 1st quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after purchasing an additional 69 shares during the last quarter. POM Investment Strategies LLC grew its holdings in PepsiCo by 141.3% in the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after buying an additional 106 shares in the last quarter. Summit Securities Group LLC bought a new position in PepsiCo during the 2nd quarter worth $30,000. Finally, Mattson Financial Services LLC bought a new stake in shares of PepsiCo in the second quarter valued at about $34,000. 73.07% of the stock is owned by institutional investors.
PepsiCo Stock Down 0.4 %
Shares of PEP opened at $174.37 on Wednesday. The stock has a market capitalization of $239.23 billion, a price-to-earnings ratio of 25.72, a PEG ratio of 3.26 and a beta of 0.53. PepsiCo, Inc. has a 52 week low of $158.03 and a 52 week high of $183.41. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The stock has a fifty day moving average of $173.90 and a 200-day moving average of $172.23.
PepsiCo Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 6th were paid a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date was Friday, September 6th. PepsiCo’s dividend payout ratio is currently 79.94%.
Wall Street Analyst Weigh In
PEP has been the subject of several analyst reports. TD Cowen cut shares of PepsiCo from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $190.00 to $183.00 in a research note on Thursday, October 10th. Bank of America dropped their price target on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. DZ Bank downgraded PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target on the stock. in a research report on Friday, July 19th. JPMorgan Chase & Co. dropped their price objective on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Finally, Wells Fargo & Company decreased their price target on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, PepsiCo currently has an average rating of “Hold” and an average price target of $183.92.
Get Our Latest Analysis on PEP
PepsiCo Company Profile
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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