VELA Investment Management LLC Has $4.90 Million Stake in PepsiCo, Inc. $PEP

VELA Investment Management LLC increased its stake in PepsiCo, Inc. (NASDAQ:PEP) by 30.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 34,895 shares of the company’s stock after purchasing an additional 8,130 shares during the quarter. PepsiCo makes up 1.2% of VELA Investment Management LLC’s investment portfolio, making the stock its 19th largest holding. VELA Investment Management LLC’s holdings in PepsiCo were worth $4,901,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PEP. Anchor Capital Advisors LLC lifted its position in PepsiCo by 29.1% during the 3rd quarter. Anchor Capital Advisors LLC now owns 129,621 shares of the company’s stock worth $18,204,000 after acquiring an additional 29,190 shares during the last quarter. Avidian Wealth Enterprises LLC lifted its position in shares of PepsiCo by 8.2% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 17,853 shares of the company’s stock worth $2,507,000 after purchasing an additional 1,357 shares during the last quarter. Rakuten Investment Management Inc. bought a new stake in PepsiCo during the 3rd quarter valued at approximately $448,000. Cornerstone Wealth Group LLC increased its position in PepsiCo by 3.3% in the 3rd quarter. Cornerstone Wealth Group LLC now owns 83,057 shares of the company’s stock worth $11,665,000 after buying an additional 2,686 shares during the period. Finally, Chicago Partners Investment Group LLC lifted its holdings in shares of PepsiCo by 11.7% during the third quarter. Chicago Partners Investment Group LLC now owns 22,643 shares of the company’s stock worth $3,399,000 after buying an additional 2,374 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Trading Down 0.6%

Shares of PEP opened at $146.74 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26. The stock has a market cap of $200.64 billion, a PE ratio of 27.90, a PEG ratio of 4.84 and a beta of 0.42. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $160.15. The stock has a 50 day simple moving average of $145.79 and a 200-day simple moving average of $144.90.

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Stockholders of record on Friday, December 5th were paid a $1.4225 dividend. This represents a $5.69 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Friday, December 5th. PepsiCo’s payout ratio is currently 108.17%.

Analyst Ratings Changes

PEP has been the topic of several research analyst reports. HSBC raised their price objective on shares of PepsiCo from $145.00 to $152.00 and gave the stock a “hold” rating in a research note on Friday, October 10th. Citigroup boosted their price objective on shares of PepsiCo from $165.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, December 17th. Bank of America upped their price objective on shares of PepsiCo from $150.00 to $155.00 and gave the company a “neutral” rating in a research report on Friday, October 10th. Barclays set a $148.00 target price on PepsiCo in a research report on Friday, January 16th. Finally, Wells Fargo & Company upped 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. One research 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 given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $159.29.

About PepsiCo

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.