VELA Investment Management LLC Has $4.90 Million Stake in PepsiCo, Inc. $PEP

VELA Investment Management LLC grew its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 30.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 34,895 shares of the company’s stock after purchasing an additional 8,130 shares during the quarter. PepsiCo comprises about 1.2% of VELA Investment Management LLC’s investment portfolio, making the stock its 19th largest position. VELA Investment Management LLC’s holdings in PepsiCo were worth $4,901,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Norges Bank bought a new position in shares of PepsiCo in the second quarter worth about $2,330,594,000. Laurel Wealth Advisors LLC raised its position in PepsiCo by 14,420.2% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 3,890,688 shares of the company’s stock worth $513,726,000 after purchasing an additional 3,863,893 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in PepsiCo by 9.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 29,031,404 shares of the company’s stock worth $3,833,406,000 after buying an additional 2,556,163 shares in the last quarter. Franklin Resources Inc. boosted its position in PepsiCo by 19.5% in the 2nd quarter. Franklin Resources Inc. now owns 15,577,073 shares of the company’s stock valued at $2,056,797,000 after buying an additional 2,541,455 shares during the last quarter. Finally, First Trust Advisors LP raised its position in shares of PepsiCo by 112.6% during the second quarter. First Trust Advisors LP now owns 4,040,079 shares of the company’s stock worth $533,452,000 after acquiring an additional 2,139,847 shares during the last quarter. 73.07% of the stock is owned by institutional investors.

PepsiCo Trading Down 0.6%

Shares of NASDAQ PEP opened at $146.74 on Thursday. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $160.15. The stock has a market cap of $200.64 billion, a price-to-earnings ratio of 27.90, a P/E/G ratio of 4.84 and a beta of 0.42. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26. The company’s fifty day moving average is $145.79 and its 200-day moving average is $144.90.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 6th. Shareholders of record on Friday, December 5th were issued a $1.4225 dividend. This represents a $5.69 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Friday, December 5th. PepsiCo’s dividend payout ratio is 108.17%.

Analyst Upgrades and Downgrades

PEP has been the topic of several recent research reports. UBS Group decreased their price target on PepsiCo from $172.00 to $170.00 and set a “buy” rating on the stock in a report on Wednesday, January 14th. Wall Street Zen cut shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Saturday, December 27th. The Goldman Sachs Group increased their price objective on shares of PepsiCo from $165.00 to $167.00 and gave the company a “buy” rating in a report on Friday, October 10th. Exane BNP Paribas raised shares of PepsiCo from a “hold” rating to a “strong-buy” rating in a report on Friday, January 16th. Finally, Barclays set a $148.00 price target on PepsiCo in a research note on Friday, January 16th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, PepsiCo currently has an average rating of “Hold” and a consensus target price of $159.29.

PepsiCo Company Profile

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.