Frontier Investment Mgmt Co. Boosts Holdings in Pepsico, Inc. (PEP)
Frontier Investment Mgmt Co. boosted its holdings in shares of Pepsico, Inc. (NYSE:PEP) by 6.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,574 shares of the company’s stock after acquiring an additional 658 shares during the quarter. Frontier Investment Mgmt Co.’s holdings in Pepsico were worth $1,221,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Parsec Financial Management Inc. boosted its stake in shares of Pepsico by 2.7% in the 1st quarter. Parsec Financial Management Inc. now owns 183,302 shares of the company’s stock valued at $20,504,000 after purchasing an additional 4,823 shares during the last quarter. QV Investors Inc. boosted its stake in shares of Pepsico by 18.4% in the 1st quarter. QV Investors Inc. now owns 37,420 shares of the company’s stock valued at $4,185,000 after purchasing an additional 5,810 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its stake in shares of Pepsico by 73.1% in the 1st quarter. State of New Jersey Common Pension Fund D now owns 1,539,600 shares of the company’s stock valued at $172,220,000 after purchasing an additional 650,000 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Pepsico by 14.6% in the 1st quarter. Russell Investments Group Ltd. now owns 3,881,793 shares of the company’s stock valued at $434,310,000 after purchasing an additional 495,542 shares during the last quarter. Finally, Taylor Cottrill Erickson & Associates Inc. boosted its stake in shares of Pepsico by 3.6% in the 1st quarter. Taylor Cottrill Erickson & Associates Inc. now owns 5,222 shares of the company’s stock valued at $584,000 after purchasing an additional 183 shares during the last quarter. 70.50% of the stock is currently owned by hedge funds and other institutional investors.
Pepsico, Inc. (NYSE PEP) opened at $119.22 on Friday. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.21 and a current ratio of 1.35. Pepsico, Inc. has a 1 year low of $101.06 and a 1 year high of $119.39. The stock has a market cap of $169,526.55, a price-to-earnings ratio of 23.28, a P/E/G ratio of 3.35 and a beta of 0.68.
The business also recently announced a quarterly dividend, which will be paid on Monday, January 8th. Investors of record on Friday, December 1st will be given a dividend of $0.805 per share. The ex-dividend date is Thursday, November 30th. This represents a $3.22 dividend on an annualized basis and a dividend yield of 2.70%. Pepsico’s payout ratio is presently 66.53%.
In other Pepsico news, insider Ramon Laguarta sold 21,449 shares of the company’s stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $110.51, for a total transaction of $2,370,328.99. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.26% of the company’s stock.
A number of equities research analysts have recently commented on PEP shares. Zacks Investment Research raised shares of Pepsico from a “hold” rating to a “buy” rating and set a $132.00 price objective on the stock in a research note on Tuesday, August 22nd. BidaskClub lowered shares of Pepsico from a “buy” rating to a “hold” rating in a research note on Friday, August 25th. BMO Capital Markets reaffirmed a “hold” rating and issued a $120.00 price objective on shares of Pepsico in a research note on Wednesday, September 6th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $115.00 price objective on shares of Pepsico in a research note on Wednesday, September 6th. Finally, Credit Suisse Group downgraded shares of Pepsico from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $126.00 to $124.00 in a research report on Friday, September 8th. Eight equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $122.73.
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Pepsico Company Profile
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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