PepsiCo, Inc. $PEP Shares Sold by Core Alternative Capital

Core Alternative Capital cut its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 86.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,078 shares of the company’s stock after selling 20,234 shares during the period. Core Alternative Capital’s holdings in PepsiCo were worth $432,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in PEP. Three Bridge Wealth Advisors LLC lifted its stake in PepsiCo by 1.8% during the third quarter. Three Bridge Wealth Advisors LLC now owns 3,870 shares of the company’s stock worth $544,000 after purchasing an additional 68 shares during the last quarter. JSF Financial LLC lifted its position in shares of PepsiCo by 3.8% during the 2nd quarter. JSF Financial LLC now owns 1,897 shares of the company’s stock worth $250,000 after buying an additional 69 shares during the last quarter. Facet Wealth Inc. boosted its holdings in shares of PepsiCo by 3.2% in the 3rd quarter. Facet Wealth Inc. now owns 2,221 shares of the company’s stock valued at $312,000 after buying an additional 69 shares in the last quarter. Hudock Inc. grew its position in shares of PepsiCo by 1.0% in the 3rd quarter. Hudock Inc. now owns 7,079 shares of the company’s stock valued at $994,000 after buying an additional 70 shares during the last quarter. Finally, Binnacle Investments Inc raised its stake in PepsiCo by 33.2% during the 2nd quarter. Binnacle Investments Inc now owns 285 shares of the company’s stock worth $38,000 after acquiring an additional 71 shares in the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PEP has been the topic of several research reports. DZ Bank raised PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 price objective on the stock in a report on Tuesday, October 21st. Rothschild & Co Redburn raised 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. Barclays set a $148.00 price objective on PepsiCo in a research note on Friday, January 16th. Citigroup lifted their target price on shares of PepsiCo from $165.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, December 17th. Finally, JPMorgan Chase & Co. upgraded shares of PepsiCo from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $151.00 to $164.00 in a research note on Wednesday, December 10th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $159.29.

PepsiCo Stock Performance

NASDAQ:PEP opened at $148.78 on Wednesday. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.91 and a quick ratio of 0.72. The firm has a market cap of $203.43 billion, a price-to-earnings ratio of 28.29, a price-to-earnings-growth ratio of 4.78 and a beta of 0.42. The firm’s fifty day moving average price is $145.71 and its 200 day moving average price is $145.28. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $160.15.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 6th. Investors of record on Friday, December 5th were issued a dividend of $1.4225 per share. This represents a $5.69 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Friday, December 5th. PepsiCo’s dividend payout ratio is currently 108.17%.

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.