Waters Parkerson & CO. LLC Purchases 6,144 Shares of PepsiCo, Inc. $PEP

Waters Parkerson & CO. LLC boosted its position in PepsiCo, Inc. (NASDAQ:PEP) by 3.0% in the third quarter, Holdings Channel.com reports. The firm owned 210,226 shares of the company’s stock after buying an additional 6,144 shares during the quarter. PepsiCo comprises approximately 1.4% of Waters Parkerson & CO. LLC’s investment portfolio, making the stock its 22nd largest position. Waters Parkerson & CO. LLC’s holdings in PepsiCo were worth $29,524,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new stake in PepsiCo during the second quarter worth about $2,330,594,000. Laurel Wealth Advisors LLC boosted its holdings in PepsiCo by 14,420.2% in the second quarter. Laurel Wealth Advisors LLC now owns 3,890,688 shares of the company’s stock worth $513,726,000 after acquiring an additional 3,863,893 shares in the last quarter. Kingstone Capital Partners Texas LLC bought a new position in shares of PepsiCo during the second quarter valued at $460,110,000. Charles Schwab Investment Management Inc. boosted its stake in PepsiCo by 9.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 29,031,404 shares of the company’s stock worth $3,833,406,000 after purchasing an additional 2,556,163 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in PepsiCo by 19.5% during the 2nd quarter. Franklin Resources Inc. now owns 15,577,073 shares of the company’s stock valued at $2,056,797,000 after purchasing an additional 2,541,455 shares during the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Stock Down 0.2%

Shares of PEP opened at $146.32 on Friday. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $160.15. 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 company has a market capitalization of $200.07 billion, a PE ratio of 27.82, a price-to-earnings-growth ratio of 4.80 and a beta of 0.42. The business’s 50 day moving average is $145.62 and its 200 day moving average is $144.61.

PepsiCo Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PEP. Evercore ISI raised their price target on shares of PepsiCo from $150.00 to $152.00 in a research report on Friday, October 10th. Bank of America upped their price target on PepsiCo from $150.00 to $155.00 and gave the company a “neutral” rating in a report on Friday, October 10th. The Goldman Sachs Group boosted their target price on PepsiCo from $165.00 to $167.00 and gave the stock a “buy” rating in a research report on Friday, October 10th. Wall Street Zen downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Saturday, December 27th. Finally, Barclays set a $148.00 price objective on shares of PepsiCo in a research report on Friday. Ten equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $161.32.

PepsiCo Profile

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.