Mutual of America Capital Management LLC Has $23.75 Million Stake in Pepsico, Inc. (PEP)
Mutual of America Capital Management LLC grew its stake in Pepsico, Inc. (NYSE:PEP) by 2.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 213,098 shares of the company’s stock after purchasing an additional 4,844 shares during the period. Mutual of America Capital Management LLC’s holdings in Pepsico were worth $23,746,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of PEP. Barnett & Company Inc. increased its holdings in Pepsico by 270.4% during the 2nd quarter. Barnett & Company Inc. now owns 900 shares of the company’s stock worth $104,000 after purchasing an additional 657 shares during the period. Aviance Capital Management LLC purchased a new position in Pepsico during the 2nd quarter worth $111,000. Asset Planning Services Ltd. increased its holdings in Pepsico by 0.3% during the 2nd quarter. Asset Planning Services Ltd. now owns 1,006 shares of the company’s stock worth $116,000 after purchasing an additional 3 shares during the period. Patriot Financial Group Insurance Agency LLC increased its holdings in Pepsico by 5.9% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,211 shares of the company’s stock worth $138,000 after purchasing an additional 67 shares during the period. Finally, Riggs Asset Managment Co. Inc. increased its holdings in Pepsico by 14.9% during the 1st quarter. Riggs Asset Managment Co. Inc. now owns 1,270 shares of the company’s stock worth $142,000 after purchasing an additional 165 shares during the period. 70.08% of the stock is owned by institutional investors and hedge funds.
Shares of Pepsico, Inc. (PEP) opened at $118.05 on Tuesday. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.35 and a quick ratio of 1.21. The firm has a market capitalization of $169,526.55, a price-to-earnings ratio of 23.28, a PEG ratio of 3.35 and a beta of 0.68. Pepsico, Inc. has a 52-week low of $101.06 and a 52-week high of $119.74.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 8th. Stockholders of record on Friday, December 1st will be given a $0.805 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $3.22 dividend on an annualized basis and a dividend yield of 2.73%. Pepsico’s payout ratio is 66.53%.
PEP has been the topic of several research reports. Zacks Investment Research upgraded Pepsico from a “hold” rating to a “buy” rating and set a $132.00 price objective on the stock in a report on Tuesday, August 22nd. Jefferies Group downgraded Pepsico from a “buy” rating to a “hold” rating and cut their price target for the company from $133.00 to $108.00 in a report on Monday, October 2nd. Credit Suisse Group downgraded Pepsico from an “outperform” rating to a “neutral” rating and cut their price target for the company from $126.00 to $124.00 in a report on Friday, September 8th. Royal Bank of Canada reiterated a “hold” rating and issued a $115.00 price target on shares of Pepsico in a report on Wednesday, September 6th. Finally, Deutsche Bank reiterated a “buy” rating and issued a $122.00 price target (down from $125.00) on shares of Pepsico in a report on Friday, October 6th. Eight research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $122.73.
In other news, insider Ramon Laguarta sold 21,449 shares of the firm’s stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $110.51, for a total value of $2,370,328.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.26% of the stock is owned by company insiders.
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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