EP Wealth Advisors LLC Increases Position in Pepsico, Inc. (PEP)
EP Wealth Advisors LLC boosted its stake in shares of Pepsico, Inc. (NYSE:PEP) by 1.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 148,531 shares of the company’s stock after acquiring an additional 2,383 shares during the quarter. Pepsico accounts for 2.1% of EP Wealth Advisors LLC’s holdings, making the stock its 7th largest position. EP Wealth Advisors LLC’s holdings in Pepsico were worth $17,154,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently made changes to their positions in PEP. Asset Planning Services Ltd. grew its holdings in Pepsico by 0.3% in the second quarter. Asset Planning Services Ltd. now owns 1,006 shares of the company’s stock valued at $116,000 after purchasing an additional 3 shares during the period. Accurate Investment Solutions Inc. grew its holdings in Pepsico by 0.3% in the second quarter. Accurate Investment Solutions Inc. now owns 1,851 shares of the company’s stock valued at $214,000 after purchasing an additional 5 shares during the period. Northwest Wealth Management LLC grew its holdings in Pepsico by 0.4% in the second quarter. Northwest Wealth Management LLC now owns 2,511 shares of the company’s stock valued at $290,000 after purchasing an additional 11 shares during the period. Sunbelt Securities Inc. grew its holdings in Pepsico by 0.3% in the second quarter. Sunbelt Securities Inc. now owns 4,682 shares of the company’s stock valued at $541,000 after purchasing an additional 12 shares during the period. Finally, Willingdon Wealth Management grew its holdings in Pepsico by 0.3% in the first quarter. Willingdon Wealth Management now owns 6,381 shares of the company’s stock valued at $714,000 after purchasing an additional 16 shares during the period. Institutional investors own 70.50% of the company’s stock.
Shares of Pepsico, Inc. (NYSE:PEP) traded up $0.29 during trading hours on Thursday, hitting $118.09. The stock had a trading volume of 1,066,968 shares, compared to its average volume of 3,658,890. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.35 and a quick ratio of 1.21. The firm has a market capitalization of $166,959.58, a price-to-earnings ratio of 22.93, a PEG ratio of 3.19 and a beta of 0.68. Pepsico, Inc. has a 12-month low of $101.06 and a 12-month high of $119.39.
The company also recently declared a quarterly dividend, which will be paid on Monday, January 8th. Stockholders of record on Friday, December 1st will be paid a $0.805 dividend. This represents a $3.22 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date is Thursday, November 30th. Pepsico’s dividend payout ratio is presently 66.53%.
PEP has been the topic of several research analyst reports. Cowen reissued a “buy” rating on shares of Pepsico in a report on Sunday, September 17th. Zacks Investment Research raised Pepsico from a “hold” rating to a “buy” rating and set a $132.00 price objective on the stock in a report on Tuesday, August 22nd. BidaskClub raised Pepsico from a “hold” rating to a “buy” rating in a report on Thursday, August 17th. Susquehanna Bancshares reissued a “buy” rating and issued a $135.00 price objective on shares of Pepsico in a report on Monday, October 2nd. Finally, Deutsche Bank reissued a “buy” rating and issued a $122.00 price objective (down from $125.00) on shares of Pepsico in a report on Friday, October 6th. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $122.73.
In other news, insider Ramon Laguarta sold 21,449 shares of Pepsico stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $110.51, for a total value of $2,370,328.99. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 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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