Core Alternative Capital Reduces Stock Position in PepsiCo, Inc. $PEP

Core Alternative Capital decreased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 86.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,078 shares of the company’s stock after selling 20,234 shares during the quarter. Core Alternative Capital’s holdings in PepsiCo were worth $432,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. Evolution Wealth Management Inc. purchased a new stake in shares of PepsiCo in the second quarter valued at about $27,000. JCIC Asset Management Inc. acquired a new position in PepsiCo in the 3rd quarter valued at about $27,000. Vermillion & White Wealth Management Group LLC grew its stake in shares of PepsiCo by 107.1% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 234 shares of the company’s stock valued at $31,000 after buying an additional 121 shares during the period. Halbert Hargrove Global Advisors LLC increased its holdings in shares of PepsiCo by 667.7% during the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 238 shares of the company’s stock worth $33,000 after buying an additional 207 shares during the last quarter. Finally, Frazier Financial Advisors LLC raised its position in shares of PepsiCo by 85.3% during the 2nd quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock valued at $35,000 after buying an additional 122 shares during the period. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Stock Up 2.0%

Shares of NASDAQ PEP opened at $148.78 on Wednesday. The stock has a market cap of $203.43 billion, a P/E ratio of 28.29, a PEG ratio of 4.78 and a beta of 0.42. The business’s fifty day simple moving average is $145.71 and its 200-day simple moving average is $145.28. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $160.15. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 6th. Stockholders of record on Friday, December 5th were given a dividend of $1.4225 per share. The ex-dividend date of this dividend was Friday, December 5th. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.8%. PepsiCo’s payout ratio is currently 108.17%.

Analysts Set New Price Targets

Several research analysts recently weighed in on PEP shares. Citigroup increased their price objective on PepsiCo from $165.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, December 17th. HSBC increased their price target on PepsiCo from $145.00 to $152.00 and gave the stock a “hold” rating in a report on Friday, October 10th. Wells Fargo & Company upped their target price on shares of PepsiCo from $150.00 to $154.00 and gave the company a “positive” rating in a research report on Friday, October 10th. Jefferies Financial Group increased their target price on shares of PepsiCo from $163.00 to $164.00 and gave the stock a “hold” rating in a research note on Tuesday, December 9th. Finally, BNP Paribas Exane raised shares of PepsiCo from a “hold” rating to an “outperform” rating and set a $179.00 price target on the stock in a research note on Friday, January 16th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target 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.