PepsiCo, Inc. $PEP Shares Purchased by Columbia Asset Management

Columbia Asset Management boosted its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 16.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,804 shares of the company’s stock after purchasing an additional 4,259 shares during the quarter. Columbia Asset Management’s holdings in PepsiCo were worth $4,186,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PEP. JCIC Asset Management Inc. purchased a new position in PepsiCo in the 3rd quarter worth approximately $27,000. Evolution Wealth Management Inc. purchased a new stake in PepsiCo in the second quarter valued at $27,000. Vermillion & White Wealth Management Group LLC lifted its position in PepsiCo by 107.1% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 234 shares of the company’s stock valued at $31,000 after buying an additional 121 shares during the last quarter. Halbert Hargrove Global Advisors LLC lifted its holdings in shares of PepsiCo by 667.7% in the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 238 shares of the company’s stock worth $33,000 after acquiring an additional 207 shares during the last quarter. Finally, Frazier Financial Advisors LLC lifted its stake in PepsiCo by 85.3% during the second quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock worth $35,000 after purchasing an additional 122 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Up 3.3%

Shares of NASDAQ PEP opened at $153.63 on Friday. The firm’s 50-day moving average is $145.94 and its two-hundred day moving average is $145.45. The company has a market capitalization of $210.06 billion, a PE ratio of 29.21, a price-to-earnings-growth ratio of 4.89 and a beta of 0.42. 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, Inc. has a 12-month low of $127.60 and a 12-month high of $160.15.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 6th. Stockholders of record on Friday, December 5th were paid 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 dividend yield of 3.7%. PepsiCo’s dividend payout ratio is currently 108.17%.

Analyst Ratings Changes

PEP has been the topic of a number of research reports. Citigroup increased their target price on shares of PepsiCo from $165.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, December 17th. Wall Street Zen downgraded PepsiCo from a “buy” rating to a “hold” rating in a report on Saturday, December 27th. Loop Capital set a $164.00 price target on shares of PepsiCo in a research note on Thursday, October 23rd. Exane BNP Paribas raised PepsiCo from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 16th. Finally, Bank of America upped their target price on shares of PepsiCo from $150.00 to $155.00 and gave the company a “neutral” rating in a report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $159.29.

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.