Pepsico, Inc. (PEP) Holdings Lifted by Gabelli Funds LLC
Gabelli Funds LLC boosted its position in shares of Pepsico, Inc. (NYSE:PEP) by 0.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 795,000 shares of the company’s stock after buying an additional 5,200 shares during the quarter. Gabelli Funds LLC owned 0.06% of Pepsico worth $91,815,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. New Jersey Better Educational Savings Trust bought a new stake in shares of Pepsico in the first quarter valued at about $783,000. First Western Capital Management Co raised its holdings in shares of Pepsico by 7.9% in the first quarter. First Western Capital Management Co now owns 39,724 shares of the company’s stock valued at $4,443,000 after acquiring an additional 2,901 shares in the last quarter. Supplemental Annuity Collective Trust of NJ raised its holdings in shares of Pepsico by 23.7% in the first quarter. Supplemental Annuity Collective Trust of NJ now owns 24,000 shares of the company’s stock valued at $2,685,000 after acquiring an additional 4,603 shares in the last quarter. Paragon Capital Management Ltd bought a new stake in shares of Pepsico in the first quarter valued at about $889,000. Finally, Parsec Financial Management Inc. raised its holdings in shares of Pepsico by 2.7% in the first quarter. Parsec Financial Management Inc. now owns 183,302 shares of the company’s stock valued at $20,504,000 after acquiring an additional 4,823 shares in the last quarter. 70.21% of the stock is owned by institutional investors.
Shares of Pepsico, Inc. (NYSE PEP) opened at $114.91 on Tuesday. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.35 and a quick ratio of 1.21. Pepsico, Inc. has a 52-week low of $98.50 and a 52-week high of $119.39. The company has a market capitalization of $163,250.00, a P/E ratio of 22.40, a price-to-earnings-growth ratio of 3.12 and a beta of 0.66.
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 8th. Stockholders of record on Friday, December 1st will be paid a dividend of $0.805 per share. This represents a $3.22 annualized dividend and a dividend yield of 2.80%. The ex-dividend date of this dividend is Thursday, November 30th. Pepsico’s payout ratio is 66.53%.
Several research firms recently weighed in on PEP. BidaskClub upgraded Pepsico from a “hold” rating to a “buy” rating in a report on Thursday, August 17th. Zacks Investment Research upgraded shares of Pepsico from a “hold” rating to a “buy” rating and set a $132.00 target price for the company in a report on Tuesday, August 22nd. Royal Bank Of Canada reiterated a “hold” rating on shares of Pepsico in a report on Sunday, November 12th. Susquehanna Bancshares Inc reiterated a “buy” rating and issued a $135.00 target price on shares of Pepsico in a report on Monday, October 2nd. Finally, Jefferies Group LLC downgraded shares of Pepsico from a “buy” rating to a “hold” rating and reduced their target price for the stock from $133.00 to $108.00 in a report on Monday, October 2nd. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $121.35.
In other news, insider Ramon Laguarta sold 21,449 shares of the company’s stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $110.51, for a total transaction of $2,370,328.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.26% of the company’s stock.
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PepsiCo, Inc is a global food and beverage company. The Company’s portfolio of brands includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. The Company operates through six segments: Frito-Lay North America (FLNA), Quaker Foods North America (QFNA), North America Beverages (NAB), Latin America, Europe Sub-Saharan Africa (ESSA), and Asia, Middle East and North Africa (AMENA).
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