M&R Capital Management Inc. cut its stake in PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 0.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 47,992 shares of the company’s stock after selling 139 shares during the quarter. PepsiCo makes up about 1.8% of M&R Capital Management Inc.’s holdings, making the stock its 16th biggest holding. M&R Capital Management Inc.’s holdings in PepsiCo were worth $8,161,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also modified their holdings of the stock. Valued Wealth Advisors LLC grew its position in PepsiCo by 77.5% during the 1st quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after acquiring an additional 69 shares during the last quarter. Global Wealth Strategies & Associates grew its position in PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after acquiring an additional 59 shares during the last quarter. POM Investment Strategies LLC grew its position in PepsiCo by 141.3% during the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after acquiring an additional 106 shares during the last quarter. Summit Securities Group LLC bought a new stake in PepsiCo during the 2nd quarter worth approximately $30,000. Finally, Fortis Group Advisors LLC grew its position in PepsiCo by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock worth $33,000 after acquiring an additional 97 shares during the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.
PepsiCo Stock Performance
PEP stock opened at $169.55 on Thursday. The business’s 50-day moving average price is $173.95 and its two-hundred day moving average price is $172.15. The company has a current ratio of 0.83, a quick ratio of 0.64 and a debt-to-equity ratio of 1.87. The firm has a market cap of $232.89 billion, a PE ratio of 24.61, a P/E/G ratio of 2.93 and a beta of 0.53. PepsiCo, Inc. has a 1-year low of $155.83 and a 1-year high of $183.41.
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. The ex-dividend date of this dividend was Friday, September 6th. This represents a $5.42 annualized dividend and a yield of 3.20%. PepsiCo’s dividend payout ratio is presently 78.66%.
Analyst Upgrades and Downgrades
A number of research analysts have commented on the company. Bank of America decreased their price objective on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday. Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective on the stock. in a research report on Friday, September 20th. BNP Paribas assumed coverage on PepsiCo in a research report on Monday, June 24th. They issued a “neutral” rating and a $174.00 price objective on the stock. StockNews.com lowered PepsiCo from a “buy” rating to a “hold” rating in a research report on Friday, September 20th. Finally, Royal Bank of Canada decreased their price objective on PepsiCo from $180.00 to $177.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $185.40.
Get Our Latest Research Report on PepsiCo
PepsiCo Company Profile
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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