Dillon & Associates Inc. Trims Stake in PepsiCo, Inc. $PEP

Dillon & Associates Inc. decreased its position in PepsiCo, Inc. (NASDAQ:PEP) by 23.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,041 shares of the company’s stock after selling 10,840 shares during the quarter. Dillon & Associates Inc.’s holdings in PepsiCo were worth $5,046,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in PEP. Norges Bank bought a new position in PepsiCo during the 2nd quarter valued at approximately $2,330,594,000. Laurel Wealth Advisors LLC raised its position in PepsiCo by 14,420.2% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 3,890,688 shares of the company’s stock worth $513,726,000 after buying an additional 3,863,893 shares during the last quarter. Kingstone Capital Partners Texas LLC bought a new position in PepsiCo during the second quarter valued at approximately $460,110,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of PepsiCo by 9.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 29,031,404 shares of the company’s stock valued at $3,833,406,000 after buying an additional 2,556,163 shares during the period. Finally, Franklin Resources Inc. boosted its position in PepsiCo by 19.5% in the second quarter. Franklin Resources Inc. now owns 15,577,073 shares of the company’s stock worth $2,056,797,000 after purchasing an additional 2,541,455 shares during the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Price Performance

Shares of PEP stock opened at $146.57 on Friday. The company’s 50-day simple moving average is $145.55 and its two-hundred day simple moving average is $144.51. The company has a market capitalization of $200.41 billion, a P/E ratio of 27.87, a P/E/G ratio of 4.78 and a beta of 0.42. PepsiCo, Inc. has a one year low of $127.60 and a one year high of $160.15. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.91 and a quick ratio of 0.72.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Shareholders of record on Friday, December 5th were given 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 yield of 3.9%. PepsiCo’s dividend payout ratio (DPR) is 108.17%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PEP shares. Bank of America lifted their price target on shares of PepsiCo from $150.00 to $155.00 and gave the stock a “neutral” rating in a research note on Friday, October 10th. Rothschild & Co Redburn upped their price target on PepsiCo from $117.00 to $120.00 and gave the stock a “sell” rating in a research note on Monday, December 15th. BNP Paribas Exane dropped their price objective on shares of PepsiCo from $152.00 to $150.00 and set a “neutral” rating for the company in a report on Monday, October 6th. Evercore ISI raised their target price on shares of PepsiCo from $150.00 to $152.00 in a report on Friday, October 10th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of PepsiCo in a research report on Friday, January 9th. Eight analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $158.58.

PepsiCo 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.