Occidental Asset Management LLC Decreases Stock Holdings in PepsiCo, Inc. $PEP

Occidental Asset Management LLC reduced its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 84.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,288 shares of the company’s stock after selling 23,267 shares during the period. Occidental Asset Management LLC’s holdings in PepsiCo were worth $602,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new stake in PepsiCo during the second quarter valued at approximately $2,330,594,000. Laurel Wealth Advisors LLC raised its holdings in PepsiCo by 14,420.2% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 3,890,688 shares of the company’s stock valued at $513,726,000 after buying an additional 3,863,893 shares during the period. Charles Schwab Investment Management Inc. lifted its position in PepsiCo by 9.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 29,031,404 shares of the company’s stock worth $3,833,406,000 after buying an additional 2,556,163 shares during the last quarter. Franklin Resources Inc. boosted its stake in PepsiCo by 19.5% during the second quarter. Franklin Resources Inc. now owns 15,577,073 shares of the company’s stock worth $2,056,797,000 after buying an additional 2,541,455 shares during the period. Finally, First Trust Advisors LP increased its position in PepsiCo by 112.6% during the second quarter. First Trust Advisors LP now owns 4,040,079 shares of the company’s stock valued at $533,452,000 after acquiring an additional 2,139,847 shares during the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Stock Down 0.2%

Shares of NASDAQ:PEP opened at $146.32 on Monday. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26. The business’s 50 day moving average is $145.62 and its 200 day moving average is $144.73. The stock has a market cap of $200.07 billion, a P/E ratio of 27.82, a price-to-earnings-growth ratio of 4.79 and a beta of 0.42. PepsiCo, Inc. has a 52-week low of $127.60 and a 52-week high of $160.15.

PepsiCo Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 6th. Investors of record on Friday, December 5th were paid a $1.4225 dividend. 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 is 108.17%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on PEP shares. The Goldman Sachs Group raised their target price on shares of PepsiCo from $165.00 to $167.00 and gave the stock a “buy” rating in a report on Friday, October 10th. BNP Paribas raised shares of PepsiCo from a “hold” rating to an “outperform” rating and set a $179.00 price objective for the company in a research note on Friday. Bank of America upped their target price on PepsiCo from $150.00 to $155.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. Barclays set a $148.00 price target on PepsiCo in a research note on Friday. Finally, Citigroup upped their price objective on PepsiCo from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, December 17th. Ten analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $161.32.

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.