Pepsico, Inc. (PEP) Holdings Trimmed by Neville Rodie & Shaw Inc.
Neville Rodie & Shaw Inc. cut its holdings in shares of Pepsico, Inc. (NYSE:PEP) by 1.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 67,452 shares of the company’s stock after selling 785 shares during the period. Neville Rodie & Shaw Inc.’s holdings in Pepsico were worth $7,516,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Parsec Financial Management Inc. increased its holdings in shares of Pepsico by 2.7% during the first quarter. Parsec Financial Management Inc. now owns 183,302 shares of the company’s stock worth $20,504,000 after buying an additional 4,823 shares in the last quarter. QV Investors Inc. increased its holdings in Pepsico by 18.4% in the first 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 period. State of New Jersey Common Pension Fund D increased its holdings in Pepsico by 73.1% in the first 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 period. Russell Investments Group Ltd. increased its holdings in Pepsico by 14.6% in the first 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 period. Finally, Taylor Cottrill Erickson & Associates Inc. increased its holdings in Pepsico by 3.6% in the first 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 period. Hedge funds and other institutional investors own 70.50% of the company’s stock.
Shares of Pepsico, Inc. (PEP) opened at $119.22 on Monday. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 2.32. Pepsico, Inc. has a 1-year low of $101.06 and a 1-year high of $119.39. The firm has a market capitalization of $169,526.55, a PE ratio of 23.28, a price-to-earnings-growth ratio of 3.35 and a beta of 0.68.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 8th. Shareholders of record on Friday, December 1st will be issued 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 yield of 2.70%. Pepsico’s payout ratio is currently 66.53%.
In other Pepsico news, insider Ramon Laguarta sold 21,449 shares of the stock in a transaction dated 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 can be accessed through this hyperlink. Company insiders own 0.26% of the company’s stock.
A number of analysts recently weighed in on the company. Deutsche Bank assumed coverage on Pepsico in a report on Wednesday, December 13th. They issued a “buy” rating and a $132.00 price objective for the company. Zacks Investment Research upgraded Pepsico from a “sell” rating to a “hold” rating in a report on Tuesday, December 12th. Royal Bank of Canada restated a “hold” rating on shares of Pepsico in a report on Sunday, November 12th. Stifel Nicolaus restated a “hold” rating and issued a $116.00 price objective on shares of Pepsico in a report on Friday, October 13th. Finally, Credit Suisse Group restated a “hold” rating and issued a $122.00 price objective (down from $124.00) on shares of Pepsico in a report on Thursday, October 5th. Eight research 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 company. The stock currently has an average rating of “Buy” and a consensus target price of $122.73.
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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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