Livingston Group Asset Management CO operating as Southport Capital Management trimmed its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 34.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,876 shares of the company’s stock after selling 12,503 shares during the quarter. PepsiCo accounts for approximately 1.4% of Livingston Group Asset Management CO operating as Southport Capital Management’s holdings, making the stock its 12th largest position. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in PepsiCo were worth $3,591,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Paragon Wealth Strategies LLC purchased a new stake in shares of PepsiCo in the 2nd quarter worth $30,000. Cowen Prime Advisors LLC purchased a new stake in shares of PepsiCo in the 2nd quarter worth $34,000. Financial Insights Inc. purchased a new stake in shares of PepsiCo in the 2nd quarter worth $36,000. AGF Investments LLC purchased a new stake in shares of PepsiCo in the 2nd quarter worth $37,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in shares of PepsiCo in the 2nd quarter worth $44,000. 70.48% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:PEP traded down $1.51 during trading on Thursday, reaching $163.74. The company’s stock had a trading volume of 3,308,040 shares, compared to its average volume of 4,732,310. The company has a current ratio of 0.95, a quick ratio of 0.77 and a debt-to-equity ratio of 2.32. PepsiCo, Inc. has a 12 month low of $128.32 and a 12 month high of $166.80. The firm’s 50 day simple moving average is $158.84 and its two-hundred day simple moving average is $154.23. The stock has a market capitalization of $226.40 billion, a PE ratio of 27.89, a price-to-earnings-growth ratio of 2.97 and a beta of 0.62.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 7th. Shareholders of record on Friday, December 3rd will be paid a $1.075 dividend. This represents a $4.30 annualized dividend and a yield of 2.63%. The ex-dividend date of this dividend is Thursday, December 2nd. PepsiCo’s payout ratio is currently 73.25%.
In other PepsiCo news, CFO Hugh F. Johnston sold 37,266 shares of the firm’s stock in a transaction dated Thursday, October 21st. The shares were sold at an average price of $160.30, for a total value of $5,973,739.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.14% of the stock is owned by company insiders.
PEP has been the subject of a number of analyst reports. Guggenheim increased their price target on PepsiCo from $171.00 to $175.00 and gave the stock a “buy” rating in a research note on Tuesday, September 21st. Evercore ISI reiterated a “hold” rating and issued a $160.00 price target on shares of PepsiCo in a research note on Thursday, October 7th. Deutsche Bank Aktiengesellschaft increased their price target on PepsiCo from $158.00 to $160.00 and gave the stock a “hold” rating in a research note on Wednesday, October 6th. UBS Group raised their price objective on PepsiCo from $170.00 to $172.00 and gave the company a “buy” rating in a research report on Wednesday, October 6th. Finally, Zacks Investment Research lowered PepsiCo from a “buy” rating to a “hold” rating and set a $164.00 price objective for the company. in a research report on Monday, August 9th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $162.86.
PepsiCo Company Profile
PepsiCo, Inc engages in the manufacture, marketing, distribution and sale of beverages, food, and snacks. It is a food and beverage company with a complementary portfolio of brands, including Frito-Lay, Gatorade, Pepsi-Cola, Quaker, and Tropicana. It operates through the following business segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; and Africa, Middle East and South Asia The Frito-Lay North America segment markets, distributes, and sells snack foods under the Lay’s, Doritos, Cheetos, Tostitos, Fritos, Ruffles, and Santitas brands.
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