Community Bank N.A. lifted its stake in Pepsico, Inc. (NYSE:PEP) by 2.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,811 shares of the company’s stock after acquiring an additional 1,574 shares during the period. Community Bank N.A.’s holdings in Pepsico were worth $7,023,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barnett & Company Inc. increased its position in Pepsico by 270.4% during the 2nd quarter. Barnett & Company Inc. now owns 900 shares of the company’s stock valued at $104,000 after buying an additional 657 shares in the last quarter. Asset Planning Services Ltd. increased its position in Pepsico by 0.3% during the 2nd quarter. Asset Planning Services Ltd. now owns 1,006 shares of the company’s stock valued at $116,000 after buying an additional 3 shares in the last quarter. Riggs Asset Managment Co. Inc. increased its position in Pepsico by 14.9% during the 1st quarter. Riggs Asset Managment Co. Inc. now owns 1,270 shares of the company’s stock valued at $142,000 after buying an additional 165 shares in the last quarter. S. R. Schill & Associates acquired a new position in Pepsico during the 2nd quarter valued at about $203,000. Finally, Armbruster Capital Management Inc. increased its position in Pepsico by 21.6% during the 2nd quarter. Armbruster Capital Management Inc. now owns 1,782 shares of the company’s stock valued at $206,000 after buying an additional 317 shares in the last quarter. 70.21% of the stock is owned by hedge funds and other institutional investors.
Shares of Pepsico, Inc. (NYSE PEP) opened at $114.68 on Monday. The company has a market capitalization of $163,091.36, a PE ratio of 22.40, a PEG ratio of 3.12 and a beta of 0.66. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 2.32. Pepsico, Inc. has a one year low of $98.50 and a one year high of $119.39.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 8th. Shareholders of record on Friday, December 1st will be given a dividend of $0.805 per share. This represents a $3.22 dividend on an annualized basis and a yield of 2.81%. Pepsico’s dividend payout ratio is currently 66.53%.
In other Pepsico news, insider Ramon Laguarta sold 21,449 shares of the stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $110.51, for a total transaction of $2,370,328.99. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.26% of the company’s stock.
PEP has been the topic of several recent analyst reports. Cowen and Company reaffirmed a “buy” rating on shares of Pepsico in a research report on Sunday, September 17th. Zacks Investment Research raised Pepsico from a “hold” rating to a “buy” rating and set a $132.00 target price on the stock in a research report on Tuesday, August 22nd. BidaskClub raised Pepsico from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th. Susquehanna Bancshares Inc reaffirmed a “buy” rating and set a $135.00 target price on shares of Pepsico in a research report on Monday, October 2nd. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $122.00 target price (down from $125.00) on shares of Pepsico in a research report on Friday, October 6th. Seven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Pepsico presently has a consensus rating of “Buy” and an average price target of $121.35.
Pepsico Company Profile
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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