Andra AP fonden lessened its position in shares of Pepsico, Inc. (NYSE:PEP) by 2.7% in the second quarter, according to its most recent filing with the SEC. The firm owned 343,400 shares of the company’s stock after selling 9,524 shares during the quarter. Pepsico makes up approximately 1.0% of Andra AP fonden’s investment portfolio, making the stock its 3rd largest holding. Andra AP fonden’s holdings in Pepsico were worth $39,659,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the business. Willingdon Wealth Management increased its position in Pepsico by 206.2% during the 2nd quarter. Willingdon Wealth Management now owns 19,540 shares of the company’s stock valued at $2,257,000 after purchasing an additional 13,159 shares during the period. Robeco Institutional Asset Management B.V. grew its position in shares of Pepsico by 12.8% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,619,393 shares of the company’s stock worth $187,026,000 after buying an additional 184,096 shares during the period. Family Firm Inc. grew its position in shares of Pepsico by 25.3% during the 2nd quarter. Family Firm Inc. now owns 3,854 shares of the company’s stock worth $445,000 after buying an additional 779 shares during the period. Canandaigua National Bank & Trust Co. grew its position in shares of Pepsico by 2.8% during the 2nd quarter. Canandaigua National Bank & Trust Co. now owns 44,483 shares of the company’s stock worth $5,137,000 after buying an additional 1,218 shares during the period. Finally, Intrust Bank NA grew its position in shares of Pepsico by 0.9% during the 2nd quarter. Intrust Bank NA now owns 51,984 shares of the company’s stock worth $6,004,000 after buying an additional 468 shares during the period. 70.50% of the stock is owned by institutional investors and hedge funds.
Pepsico, Inc. (PEP) traded up $0.68 during midday trading on Tuesday, reaching $117.46. 4,403,000 shares of the company traded hands, compared to its average volume of 3,669,129. Pepsico, Inc. has a twelve month low of $100.12 and a twelve month high of $119.39. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 2.32. The firm has a market cap of $166,077.84, a P/E ratio of 22.81, a P/E/G ratio of 3.17 and a beta of 0.68.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 8th. Investors of record on Friday, December 1st will be given a $0.805 dividend. This represents a $3.22 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend is Thursday, November 30th. Pepsico’s payout ratio is currently 66.53%.
In related news, insider Ramon Laguarta sold 21,449 shares of Pepsico stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $110.51, for a total value of $2,370,328.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.26% of the company’s stock.
Several brokerages have recently commented on PEP. Zacks Investment Research downgraded shares of Pepsico from a “buy” rating to a “hold” rating in a research report on Monday, September 4th. BidaskClub raised shares of Pepsico from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th. BMO Capital Markets reaffirmed a “hold” rating and set a $120.00 price objective on shares of Pepsico in a research report on Wednesday, September 6th. Cowen reaffirmed a “buy” rating on shares of Pepsico in a research report on Sunday, September 17th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating on shares of Pepsico in a research report on Sunday, November 12th. Eight analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Pepsico presently has an average rating of “Buy” and an average price target of $121.96.
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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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