Courier Capital LLC cut its position in PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 0.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 50,923 shares of the company’s stock after selling 325 shares during the period. Courier Capital LLC’s holdings in PepsiCo were worth $8,659,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of the company. Global Wealth Strategies & Associates raised its holdings in shares of PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares during the last quarter. Valued Wealth Advisors LLC grew its position in PepsiCo by 77.5% during the first quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock valued at $28,000 after buying an additional 69 shares during the period. POM Investment Strategies LLC grew its position in PepsiCo by 141.3% during the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after buying an additional 106 shares during the period. Summit Securities Group LLC bought a new stake in PepsiCo during the second quarter valued at approximately $30,000. Finally, Mattson Financial Services LLC bought a new stake in PepsiCo during the second quarter valued at approximately $34,000. 73.07% of the stock is owned by hedge funds and other institutional investors.
PepsiCo Trading Down 0.8 %
Shares of PEP traded down $1.33 during midday trading on Wednesday, hitting $173.04. The stock had a trading volume of 1,083,171 shares, compared to its average volume of 5,467,276. PepsiCo, Inc. has a 1 year low of $158.03 and a 1 year high of $183.41. The firm has a market cap of $237.41 billion, a PE ratio of 25.51, a price-to-earnings-growth ratio of 3.26 and a beta of 0.53. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. The stock’s 50 day moving average is $173.90 and its 200 day moving average is $172.23.
PepsiCo Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 6th were issued a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend was Friday, September 6th. PepsiCo’s payout ratio is 79.94%.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on PEP. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Wells Fargo & Company dropped their price target on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Jefferies Financial Group dropped their price target on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Finally, Barclays dropped their price target on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $183.92.
View Our Latest Research Report on PEP
About PepsiCo
PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of various beverages and convenient foods worldwide. The company operates through seven segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region.
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