Agate Pass Investment Management LLC Boosts Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Agate Pass Investment Management LLC grew its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 21.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 19,308 shares of the company’s stock after purchasing an additional 3,415 shares during the quarter. PepsiCo accounts for 1.3% of Agate Pass Investment Management LLC’s holdings, making the stock its 24th largest holding. Agate Pass Investment Management LLC’s holdings in PepsiCo were worth $2,936,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in PEP. Oppenheimer Asset Management Inc. increased its position in shares of PepsiCo by 20.6% in the second quarter. Oppenheimer Asset Management Inc. now owns 76,818 shares of the company’s stock worth $12,670,000 after purchasing an additional 13,134 shares during the last quarter. Prosperity Consulting Group LLC increased its holdings in shares of PepsiCo by 9.9% in the 2nd quarter. Prosperity Consulting Group LLC now owns 6,777 shares of the company’s stock worth $1,118,000 after buying an additional 613 shares during the last quarter. J.W. Cole Advisors Inc. lifted its holdings in shares of PepsiCo by 46.6% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 20,383 shares of the company’s stock worth $3,362,000 after acquiring an additional 6,477 shares during the last quarter. Lyell Wealth Management LP grew its position in PepsiCo by 8.3% in the second quarter. Lyell Wealth Management LP now owns 30,836 shares of the company’s stock worth $5,086,000 after acquiring an additional 2,364 shares in the last quarter. Finally, Hoge Financial Services LLC raised its position in PepsiCo by 6.1% during the second quarter. Hoge Financial Services LLC now owns 3,225 shares of the company’s stock valued at $532,000 after purchasing an additional 184 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

Shares of PepsiCo stock traded up $1.99 during trading on Monday, hitting $144.63. 3,051,448 shares of the company’s stock traded hands, compared to its average volume of 6,622,153. 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 has a market capitalization of $198.43 billion, a P/E ratio of 21.33, a PEG ratio of 2.94 and a beta of 0.54. The business has a 50-day simple moving average of $157.35 and a 200-day simple moving average of $166.50. PepsiCo, Inc. has a 1 year low of $141.51 and a 1 year high of $183.41.

PepsiCo Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were issued a dividend of $1.355 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.75%. PepsiCo’s payout ratio is 79.94%.

Wall Street Analyst Weigh In

PEP has been the topic of a number of research reports. TD Cowen decreased their price objective on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective for the company. in a research note on Friday, September 20th. Royal Bank of Canada dropped their price target on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. Barclays cut their target price on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Finally, Hsbc Global Res upgraded PepsiCo to a “hold” rating in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, PepsiCo presently has an average rating of “Hold” and an average price target of $180.64.

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.