PepsiCo, Inc. $PEP Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd lessened its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 88.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,578 shares of the company’s stock after selling 89,873 shares during the period. Y Intercept Hong Kong Ltd’s holdings in PepsiCo were worth $1,626,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PEP. Merit Financial Group LLC grew its position in shares of PepsiCo by 46.4% during the 2nd quarter. Merit Financial Group LLC now owns 114,344 shares of the company’s stock valued at $15,098,000 after buying an additional 36,239 shares during the last quarter. Clayton Financial Group LLC acquired a new position in PepsiCo in the third quarter valued at approximately $872,000. Naples Global Advisors LLC grew its holdings in shares of PepsiCo by 2.3% during the second quarter. Naples Global Advisors LLC now owns 26,270 shares of the company’s stock valued at $3,469,000 after purchasing an additional 592 shares during the last quarter. Avantax Advisory Services Inc. raised its position in shares of PepsiCo by 2.6% during the 2nd quarter. Avantax Advisory Services Inc. now owns 185,961 shares of the company’s stock worth $24,554,000 after purchasing an additional 4,627 shares during the period. Finally, Concord Asset Management LLC VA lifted its holdings in shares of PepsiCo by 29.4% in the 2nd quarter. Concord Asset Management LLC VA now owns 8,880 shares of the company’s stock worth $1,172,000 after purchasing an additional 2,016 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Stock Performance

PEP opened at $148.69 on Friday. The business has a 50 day moving average price of $145.79 and a two-hundred day moving average price of $145.32. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.91 and a quick ratio of 0.72. The company has a market capitalization of $203.31 billion, a price-to-earnings ratio of 28.27, a price-to-earnings-growth ratio of 4.88 and a beta of 0.42. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $160.15.

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Investors of record on Friday, December 5th were issued a dividend of $1.4225 per share. This represents a $5.69 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Friday, December 5th. PepsiCo’s payout ratio is presently 108.17%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. raised PepsiCo from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $151.00 to $164.00 in a research report on Wednesday, December 10th. Citigroup lifted their price objective on shares of PepsiCo from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, December 17th. UBS Group decreased their target price on shares of PepsiCo from $172.00 to $170.00 and set a “buy” rating for the company in a research report on Wednesday, January 14th. Wells Fargo & Company lifted their price target on PepsiCo from $150.00 to $154.00 and gave the company a “positive” rating in a report on Friday, October 10th. Finally, Rothschild & Co Redburn raised their target price on PepsiCo from $117.00 to $120.00 and gave the company a “sell” rating in a research report on Monday, December 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $159.29.

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.