PepsiCo, Inc. (PEP) Stake Lessened by DORCHESTER WEALTH MANAGEMENT Co
DORCHESTER WEALTH MANAGEMENT Co trimmed its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 1.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,547 shares of the company’s stock after selling 610 shares during the period. PepsiCo accounts for about 1.4% of DORCHESTER WEALTH MANAGEMENT Co’s portfolio, making the stock its 29th biggest holding. DORCHESTER WEALTH MANAGEMENT Co’s holdings in PepsiCo were worth $4,197,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in PEP. Penserra Capital Management LLC grew its position in shares of PepsiCo by 16.6% in the fourth quarter. Penserra Capital Management LLC now owns 3,335 shares of the company’s stock valued at $399,000 after purchasing an additional 475 shares during the period. Keeler Thomas Management LLC acquired a new stake in shares of PepsiCo in the fourth quarter valued at about $2,507,000. Cypress Capital Management LLC grew its position in shares of PepsiCo by 5.3% in the fourth quarter. Cypress Capital Management LLC now owns 19,191 shares of the company’s stock valued at $2,301,000 after purchasing an additional 973 shares during the period. Lbmc Investment Advisors LLC acquired a new stake in shares of PepsiCo in the fourth quarter valued at about $261,000. Finally, Carnick & Kubik Group LLC acquired a new stake in shares of PepsiCo in the fourth quarter valued at about $2,029,000. 70.90% of the stock is owned by institutional investors.
NASDAQ:PEP opened at $112.15 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 3.00. The stock has a market capitalization of $160.84 billion, a PE ratio of 21.44, a price-to-earnings-growth ratio of 2.68 and a beta of 0.71. PepsiCo, Inc. has a twelve month low of $95.94 and a twelve month high of $122.51.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 7th will be paid a $0.9275 dividend. This represents a $3.71 annualized dividend and a dividend yield of 3.31%. The ex-dividend date of this dividend is Thursday, September 6th. PepsiCo’s dividend payout ratio is currently 70.94%.
Several brokerages have recently issued reports on PEP. SunTrust Banks dropped their target price on shares of PepsiCo to $105.00 and set a “hold” rating on the stock in a research report on Friday, April 27th. Zacks Investment Research upgraded shares of PepsiCo from a “sell” rating to a “hold” rating in a research report on Sunday, July 15th. BidaskClub upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, June 26th. ValuEngine lowered shares of PepsiCo from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Finally, Barclays reiterated a “hold” rating and issued a $108.00 target price on shares of PepsiCo in a research report on Monday, April 30th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $119.67.
PepsiCo Company Profile
PepsiCo, Inc operates as a food and beverage company worldwide. Its Frito-Lay North America segment offers Lay's and Ruffles potato chips; Doritos, Tostitos, and Santitas tortilla chips; and Cheetos snacks, branded dips, and Fritos corn chips. The company's Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the brands Quaker, Aunt Jemima, Cap'n crunch, life, Quaker Chewy, and Rice-A-Roni.
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