PepsiCo, Inc. $PEP Stock Holdings Boosted by iA Global Asset Management Inc.

iA Global Asset Management Inc. lifted its position in PepsiCo, Inc. (NASDAQ:PEP) by 13.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 226,613 shares of the company’s stock after buying an additional 26,828 shares during the period. iA Global Asset Management Inc.’s holdings in PepsiCo were worth $31,826,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. JCIC Asset Management Inc. acquired a new position in shares of PepsiCo in the 3rd quarter worth approximately $27,000. Evolution Wealth Management Inc. bought a new stake in PepsiCo during the second quarter worth approximately $27,000. Legend Financial Advisors Inc. acquired a new position in PepsiCo in the second quarter worth approximately $29,000. Vermillion & White Wealth Management Group LLC increased its holdings in shares of PepsiCo by 107.1% in the second 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 in the last quarter. Finally, Halbert Hargrove Global Advisors LLC lifted its position 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 valued at $33,000 after acquiring an additional 207 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

NASDAQ PEP opened at $144.40 on Friday. The company has a 50 day simple moving average of $145.78 and a 200-day simple moving average of $144.90. PepsiCo, Inc. has a 52-week low of $127.60 and a 52-week high of $160.15. The firm has a market capitalization of $197.44 billion, a price-to-earnings ratio of 27.45, a price-to-earnings-growth ratio of 4.81 and a beta of 0.42. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.91 and a quick ratio of 0.72.

PepsiCo Announces Dividend

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

Analyst Ratings Changes

PEP has been the topic of a number of recent analyst reports. Rothschild & Co Redburn boosted their target price on PepsiCo from $117.00 to $120.00 and gave the stock a “sell” rating in a research report on Monday, December 15th. DZ Bank raised PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 price target on the stock in a research note on Tuesday, October 21st. Jefferies Financial Group boosted their price objective on PepsiCo from $163.00 to $164.00 and gave the stock a “hold” rating in a report on Tuesday, December 9th. Loop Capital set a $164.00 target price on shares of PepsiCo in a research report on Thursday, October 23rd. Finally, Wells Fargo & Company upped their price target 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. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $159.29.

About PepsiCo

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.