Gabelli Funds LLC cut its position in shares of PepsiCo, Inc. (NYSE:PEP) by 3.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 809,600 shares of the company’s stock after selling 30,200 shares during the period. Gabelli Funds LLC owned approximately 0.06% of PepsiCo worth $84,708,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently modified their holdings of PEP. Itau Unibanco Holding S.A. purchased a new position in shares of PepsiCo during the third quarter worth approximately $101,000. Piershale Financial Group Inc. raised its position in shares of PepsiCo by 0.4% in the third quarter. Piershale Financial Group Inc. now owns 1,009 shares of the company’s stock worth $110,000 after buying an additional 4 shares in the last quarter. Edmond DE Rothschild Monaco purchased a new position in shares of PepsiCo during the third quarter worth approximately $131,000. Peddock Capital Advisors LLC purchased a new position in shares of PepsiCo during the third quarter worth approximately $152,000. Finally, NewSquare Capital LLC raised its position in shares of PepsiCo by 2.8% in the third quarter. NewSquare Capital LLC now owns 1,622 shares of the company’s stock worth $176,000 after buying an additional 44 shares in the last quarter. 70.43% of the stock is currently owned by hedge funds and other institutional investors.
PepsiCo, Inc. (NYSE:PEP) traded down 0.14% during midday trading on Friday, reaching $113.43. The company had a trading volume of 3,885,269 shares. PepsiCo, Inc. has a one year low of $98.50 and a one year high of $114.61. The stock has a market capitalization of $161.89 billion, a price-to-earnings ratio of 26.02 and a beta of 0.53. The company has a 50-day moving average price of $111.62 and a 200-day moving average price of $106.65.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Friday, March 3rd were paid a $0.7525 dividend. This represents a $3.01 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date of this dividend was Wednesday, March 1st. PepsiCo’s dividend payout ratio (DPR) is 66.01%.
Several analysts have recently issued reports on PEP shares. Jefferies Group LLC increased their target price on PepsiCo from $118.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, February 16th. BMO Capital Markets reissued a “buy” rating and set a $115.00 target price on shares of PepsiCo in a report on Thursday, February 16th. Credit Suisse Group AG reissued a “buy” rating and set a $115.00 target price on shares of PepsiCo in a report on Thursday, February 16th. Barclays PLC started coverage on PepsiCo in a report on Monday, January 9th. They set an “equal weight” rating and a $102.00 target price on the stock. Finally, Vetr lowered PepsiCo from a “buy” rating to a “hold” rating and set a $106.67 target price on the stock. in a report on Wednesday, January 18th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have given a buy rating to the company’s stock. PepsiCo currently has a consensus rating of “Buy” and an average target price of $117.12.
In related news, CEO Ramon Laguarta sold 23,585 shares of the business’s stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $109.05, for a total value of $2,571,944.25. Following the completion of the transaction, the chief executive officer now owns 135,859 shares of the company’s stock, valued at $14,815,423.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Vivek Sankaran sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $110.22, for a total transaction of $220,440.00. Following the completion of the transaction, the chief operating officer now directly owns 73,595 shares of the company’s stock, valued at approximately $8,111,640.90. The disclosure for this sale can be found here. Insiders sold 44,343 shares of company stock valued at $4,850,480 in the last three months. 0.33% of the stock is currently owned by insiders.
About PepsiCo
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).
