Welch & Forbes LLC Has $61.91 Million Position in PepsiCo, Inc. $PEP

Welch & Forbes LLC lessened its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 17.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 440,826 shares of the company’s stock after selling 91,963 shares during the quarter. Welch & Forbes LLC’s holdings in PepsiCo were worth $61,910,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Evolution Wealth Management Inc. acquired a new stake in shares of PepsiCo in the 2nd quarter valued at $27,000. JCIC Asset Management Inc. bought a new position in PepsiCo during the 3rd quarter valued at about $27,000. Vermillion & White Wealth Management Group LLC boosted 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 in the last quarter. Halbert Hargrove Global Advisors LLC grew its stake in PepsiCo by 667.7% during the third quarter. Halbert Hargrove Global Advisors LLC now owns 238 shares of the company’s stock worth $33,000 after buying an additional 207 shares during the last quarter. Finally, Frazier Financial Advisors LLC increased its holdings in shares of 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 buying an additional 122 shares in the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Price Performance

PepsiCo stock opened at $153.63 on Friday. The business’s 50-day simple moving average is $145.94 and its 200 day simple moving average is $145.45. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26. The stock has a market cap of $210.06 billion, a price-to-earnings ratio of 29.21, a P/E/G ratio of 4.89 and a beta of 0.42. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $160.15.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 6th. Stockholders of record on Friday, December 5th were given a dividend of $1.4225 per share. The ex-dividend date was Friday, December 5th. This represents a $5.69 annualized dividend and a dividend yield of 3.7%. PepsiCo’s payout ratio is currently 108.17%.

Wall Street Analyst Weigh In

PEP has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upgraded 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 report on Wednesday, December 10th. Weiss Ratings restated a “hold (c)” rating on shares of PepsiCo in a report on Friday, January 9th. UBS Group cut their price target on PepsiCo from $172.00 to $170.00 and set a “buy” rating for the company in a report on Wednesday, January 14th. Jefferies Financial Group increased their price objective on shares of PepsiCo from $163.00 to $164.00 and gave the stock a “hold” rating in a report on Tuesday, December 9th. Finally, Rothschild & Co Redburn raised their price objective on shares of PepsiCo from $117.00 to $120.00 and gave the company a “sell” rating in a research report on Monday, December 15th. One 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 given a Sell rating to the company. According to data from MarketBeat.com, PepsiCo currently has an average rating of “Hold” and an average target price of $159.29.

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.