Wright Investors Service Inc. Buys Shares of 9,892 PepsiCo, Inc. $PEP

Wright Investors Service Inc. purchased a new position in PepsiCo, Inc. (NASDAQ:PEP) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 9,892 shares of the company’s stock, valued at approximately $1,389,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PEP. Koa Wealth Management LLC boosted its holdings in PepsiCo by 5.9% in the third quarter. Koa Wealth Management LLC now owns 7,939 shares of the company’s stock worth $1,115,000 after purchasing an additional 439 shares during the last quarter. Littlejohn Financial Services Inc. bought a new position in shares of PepsiCo during the 3rd quarter valued at $2,552,000. Blalock Williams LLC purchased a new position in shares of PepsiCo in the 3rd quarter worth $488,000. Impact Capital Partners LLC grew its holdings in shares of PepsiCo by 10.4% in the third quarter. Impact Capital Partners LLC now owns 8,950 shares of the company’s stock worth $1,257,000 after acquiring an additional 845 shares during the period. Finally, Octavia Wealth Advisors LLC increased its position in PepsiCo by 8.4% during the third quarter. Octavia Wealth Advisors LLC now owns 16,016 shares of the company’s stock valued at $2,249,000 after acquiring an additional 1,238 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PEP shares. Barclays boosted their price target on PepsiCo from $142.00 to $144.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 10th. BNP Paribas Exane dropped their price objective on shares of PepsiCo from $152.00 to $150.00 and set a “neutral” rating on the stock in a report on Monday, October 6th. HSBC upped their target price on shares of PepsiCo from $145.00 to $152.00 and gave the company a “hold” rating in a report on Friday, October 10th. DZ Bank upgraded shares of 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. Finally, Weiss Ratings restated a “hold (c)” rating on shares of PepsiCo in a research note on Friday, January 9th. Nine equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, PepsiCo has an average rating of “Hold” and a consensus price target of $159.58.

PepsiCo Stock Performance

Shares of NASDAQ PEP opened at $146.57 on Friday. The stock has a market cap of $200.41 billion, a PE ratio of 27.87, a price-to-earnings-growth ratio of 4.78 and a beta of 0.42. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $160.15. The firm has a fifty day moving average price of $145.55 and a 200-day moving average price of $144.51. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 6th. Shareholders of record on Friday, December 5th were issued 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 yield of 3.9%. PepsiCo’s dividend payout ratio (DPR) is currently 108.17%.

PepsiCo 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.