Regentatlantic Capital LLC Trims Position in PepsiCo, Inc. (PEP)
Regentatlantic Capital LLC decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 5.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,017 shares of the company’s stock after selling 768 shares during the period. Regentatlantic Capital LLC’s holdings in PepsiCo were worth $1,417,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PEP. BlackRock Inc. increased its stake in shares of PepsiCo by 5.1% in the first quarter. BlackRock Inc. now owns 92,561,144 shares of the company’s stock worth $10,103,049,000 after purchasing an additional 4,496,990 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of PepsiCo by 8.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 8,772,804 shares of the company’s stock worth $957,552,000 after purchasing an additional 646,645 shares during the period. Amundi Pioneer Asset Management Inc. increased its stake in shares of PepsiCo by 11.3% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 7,017,904 shares of the company’s stock worth $766,005,000 after purchasing an additional 711,290 shares during the period. Fisher Asset Management LLC increased its stake in shares of PepsiCo by 3.6% in the second quarter. Fisher Asset Management LLC now owns 6,496,425 shares of the company’s stock worth $707,266,000 after purchasing an additional 227,728 shares during the period. Finally, American Century Companies Inc. increased its stake in shares of PepsiCo by 51.4% in the first quarter. American Century Companies Inc. now owns 4,429,044 shares of the company’s stock worth $483,430,000 after purchasing an additional 1,504,144 shares during the period. 70.40% of the stock is owned by hedge funds and other institutional investors.
Shares of PEP opened at $114.91 on Friday. PepsiCo, Inc. has a 12-month low of $95.94 and a 12-month high of $122.51. The company has a debt-to-equity ratio of 3.00, a quick ratio of 1.09 and a current ratio of 1.24. The stock has a market cap of $162.52 billion, a P/E ratio of 21.44, a PEG ratio of 2.71 and a beta of 0.66.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 7th will be paid a dividend of $0.9275 per share. The ex-dividend date is Thursday, September 6th. This represents a $3.71 annualized dividend and a yield of 3.23%. PepsiCo’s dividend payout ratio is 70.94%.
A number of equities analysts have recently commented on the company. BidaskClub upgraded PepsiCo from a “sell” rating to a “hold” rating in a research note on Saturday, September 15th. Guggenheim assumed coverage on PepsiCo in a research note on Thursday, September 13th. They issued a “neutral” rating and a $117.00 price objective on the stock. Zacks Investment Research upgraded PepsiCo from a “hold” rating to a “buy” rating and set a $126.00 price objective on the stock in a research note on Tuesday, September 11th. Goldman Sachs Group reiterated a “sell” rating and issued a $108.00 price objective on shares of PepsiCo in a research note on Monday, August 20th. Finally, SunTrust Banks lifted their price objective on PepsiCo to $110.00 and gave the stock a “hold” rating in a research note on Tuesday, July 24th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $119.50.
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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