Whittier Trust Co. Boosts Stake in PepsiCo, Inc. (PEP)
Whittier Trust Co. lifted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.3% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 282,000 shares of the company’s stock after purchasing an additional 6,308 shares during the quarter. PepsiCo accounts for approximately 1.3% of Whittier Trust Co.’s investment portfolio, making the stock its 12th biggest holding. Whittier Trust Co.’s holdings in PepsiCo were worth $25,194,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of PEP. BlackRock Inc. lifted its stake in shares of PepsiCo by 5.1% during the first quarter. BlackRock Inc. now owns 92,561,144 shares of the company’s stock worth $10,103,049,000 after buying an additional 4,496,990 shares during the period. Amundi Pioneer Asset Management Inc. lifted its stake in shares of PepsiCo by 42.6% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 6,306,614 shares of the company’s stock worth $756,289,000 after buying an additional 1,882,971 shares during the period. American Century Companies Inc. lifted its stake in shares of PepsiCo by 51.4% during the first quarter. American Century Companies Inc. now owns 4,429,044 shares of the company’s stock worth $483,430,000 after buying an additional 1,504,144 shares during the period. Millennium Management LLC lifted its stake in shares of PepsiCo by 2,616.0% during the first quarter. Millennium Management LLC now owns 1,447,539 shares of the company’s stock worth $157,999,000 after buying an additional 1,394,243 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of PepsiCo by 8.5% during the fourth quarter. Geode Capital Management LLC now owns 16,678,262 shares of the company’s stock worth $1,996,271,000 after buying an additional 1,305,279 shares during the period. Institutional investors and hedge funds own 70.40% of the company’s stock.
NASDAQ PEP opened at $111.96 on Friday. PepsiCo, Inc. has a 1 year low of $95.94 and a 1 year high of $122.51. The company has a debt-to-equity ratio of 3.00, a current ratio of 1.24 and a quick ratio of 1.09. The firm has a market cap of $157.23 billion, a P/E ratio of 20.74, a price-to-earnings-growth ratio of 2.62 and a beta of 0.71.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 7th will be issued a $0.9275 dividend. The ex-dividend date of this dividend is Thursday, September 6th. This represents a $3.71 dividend on an annualized basis and a yield of 3.31%. PepsiCo’s payout ratio is 70.94%.
Several equities research analysts have recently commented on the stock. Jefferies Financial Group reiterated a “hold” rating and set a $107.00 price objective on shares of PepsiCo in a research note on Monday, August 6th. Goldman Sachs Group restated a “sell” rating and set a $108.00 target price on shares of PepsiCo in a research report on Monday, August 20th. BidaskClub upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Wednesday, July 18th. SunTrust Banks boosted their target price on shares of PepsiCo to $110.00 and gave the company a “hold” rating in a research report on Tuesday, July 24th. Finally, JPMorgan Chase & Co. set a $128.00 target price on shares of PepsiCo and gave the company a “buy” rating in a research report on Wednesday, July 11th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the company. PepsiCo currently has an average rating of “Hold” and an average price target of $119.67.
PepsiCo, Inc operates as a food and beverage company worldwide. Its Frito-Lay North America segment offers Lay's and Ruffles potato chips; Doritos, Tostitos, and Santitas tortilla chips; and Cheetos snacks, branded dips, and Fritos corn chips. The company's Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the brands Quaker, Aunt Jemima, Cap'n crunch, life, Quaker Chewy, and Rice-A-Roni.
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