PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Boston Research & Management Inc.

Boston Research & Management Inc. cut its position in PepsiCo, Inc. (NASDAQ:PEP) by 0.3% during the third quarter, Holdings Channel reports. The firm owned 37,948 shares of the company’s stock after selling 115 shares during the period. PepsiCo makes up approximately 1.7% of Boston Research & Management Inc.’s portfolio, making the stock its 23rd largest position. Boston Research & Management Inc.’s holdings in PepsiCo were worth $5,707,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in PEP. Strategic Asset Management LLC acquired a new stake in PepsiCo during the third quarter worth about $28,000. Financial Insights Inc. purchased a new position in PepsiCo during the second quarter worth approximately $36,000. AGF Investments LLC purchased a new position in shares of PepsiCo in the second quarter valued at approximately $37,000. PFG Private Wealth Management LLC purchased a new position in shares of PepsiCo in the third quarter valued at approximately $39,000. Finally, Guidance Point Advisors LLC purchased a new position in shares of PepsiCo in the third quarter valued at approximately $43,000. 70.76% of the stock is currently owned by institutional investors and hedge funds.

In other PepsiCo news, CFO Hugh F. Johnston sold 37,266 shares of the stock in a transaction on Thursday, October 21st. The shares were sold at an average price of $160.30, for a total value of $5,973,739.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.14% of the stock is currently owned by corporate insiders.

Shares of NASDAQ:PEP traded up $1.60 on Friday, hitting $175.78. 62,915 shares of the company were exchanged, compared to its average volume of 5,229,122. The company’s 50 day moving average price is $167.74 and its two-hundred day moving average price is $159.76. PepsiCo, Inc. has a one year low of $128.32 and a one year high of $175.84. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.77 and a current ratio of 0.95. The firm has a market capitalization of $243.04 billion, a price-to-earnings ratio of 29.67, a PEG ratio of 3.05 and a beta of 0.65.

The company also recently announced a quarterly dividend, which was paid on Friday, January 7th. Shareholders of record on Friday, December 3rd were paid a $1.075 dividend. This represents a $4.30 annualized dividend and a yield of 2.45%. The ex-dividend date was Thursday, December 2nd. PepsiCo’s payout ratio is presently 73.25%.

Several equities research analysts have issued reports on PEP shares. Barclays raised their target price on PepsiCo from $165.00 to $168.00 and gave the stock an “overweight” rating in a research note on Thursday, October 7th. Deutsche Bank Aktiengesellschaft lifted their target price on PepsiCo from $158.00 to $160.00 and gave the company a “hold” rating in a report on Wednesday, October 6th. Evercore ISI reaffirmed a “hold” rating and set a $160.00 price target on shares of PepsiCo in a report on Thursday, October 7th. Argus boosted their target price on PepsiCo from $180.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, January 4th. Finally, Guggenheim boosted their target price on PepsiCo from $171.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday, September 21st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, PepsiCo has an average rating of “Hold” and a consensus price target of $165.00.

PepsiCo Company Profile

PepsiCo, Inc engages in the manufacture, marketing, distribution and sale of beverages, food, and snacks. It is a food and beverage company with a complementary portfolio of brands, including Frito-Lay, Gatorade, Pepsi-Cola, Quaker, and Tropicana. It operates through the following business segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; and Africa, Middle East and South Asia The Frito-Lay North America segment markets, distributes, and sells snack foods under the Lay’s, Doritos, Cheetos, Tostitos, Fritos, Ruffles, and Santitas brands.

Further Reading: Asset Allocation

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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