Clifford Swan Investment Counsel LLC Sells 3,830 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Clifford Swan Investment Counsel LLC lessened its stake in shares of PepsiCo, Inc. (NASDAQ:PEPGet Rating) by 3.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 119,451 shares of the company’s stock after selling 3,830 shares during the quarter. Clifford Swan Investment Counsel LLC’s holdings in PepsiCo were worth $19,502,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. City State Bank grew its stake in shares of PepsiCo by 6.5% in the third quarter. City State Bank now owns 1,986 shares of the company’s stock worth $324,000 after purchasing an additional 122 shares during the last quarter. Aries Wealth Management bought a new stake in PepsiCo during the second quarter valued at $2,622,000. Mcrae Capital Management Inc. boosted its position in PepsiCo by 1.3% during the second quarter. Mcrae Capital Management Inc. now owns 11,967 shares of the company’s stock valued at $1,994,000 after acquiring an additional 156 shares during the last quarter. Hixon Zuercher LLC boosted its position in PepsiCo by 4.6% during the third quarter. Hixon Zuercher LLC now owns 26,730 shares of the company’s stock valued at $4,364,000 after acquiring an additional 1,168 shares during the last quarter. Finally, Mission Wealth Management LP boosted its position in PepsiCo by 6.7% during the second quarter. Mission Wealth Management LP now owns 21,376 shares of the company’s stock valued at $3,563,000 after acquiring an additional 1,343 shares during the last quarter. Institutional investors own 70.76% of the company’s stock.

PepsiCo Stock Down 0.2 %

PEP stock traded down $0.28 during trading on Wednesday, reaching $170.41. The stock had a trading volume of 308,628 shares, compared to its average volume of 4,261,339. PepsiCo, Inc. has a one year low of $153.37 and a one year high of $186.84. The company has a quick ratio of 0.72, a current ratio of 0.92 and a debt-to-equity ratio of 1.89. The company’s 50 day moving average is $180.33 and its two-hundred day moving average is $176.02. The company has a market capitalization of $234.78 billion, a price-to-earnings ratio of 24.42, a P/E/G ratio of 3.03 and a beta of 0.57.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 6th. Shareholders of record on Friday, December 2nd were given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date was Thursday, December 1st. PepsiCo’s payout ratio is 65.81%.

Analyst Upgrades and Downgrades

PEP has been the topic of a number of research analyst reports. Barclays upped their price target on shares of PepsiCo from $183.00 to $185.00 and gave the company an “overweight” rating in a research report on Friday, October 14th. JPMorgan Chase & Co. dropped their price objective on shares of PepsiCo from $188.00 to $186.00 and set an “overweight” rating on the stock in a report on Friday, September 30th. Argus upped their price objective on shares of PepsiCo from $195.00 to $206.00 in a report on Wednesday, December 7th. Royal Bank of Canada upped their price objective on shares of PepsiCo from $165.00 to $170.00 and gave the company a “sector perform” rating in a report on Thursday, October 13th. Finally, Wells Fargo & Company upped their price objective on shares of PepsiCo from $174.00 to $190.00 and gave the company an “equal weight” rating in a report on Tuesday, January 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $183.36.

PepsiCo Profile

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PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of beverages, food, and snacks. It operates through the following business segments: Frito-Lay North America (FLNA), Quaker Foods North America (QFNA), PepsiCo Beverages North America (PBNA), Latin America (LatAm), Europe, Africa, Middle East, and South Asia (AMESA), and Asia Pacific, Australia and New Zealand, and China Region (APAC).

Further Reading

Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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