Great Lakes Advisors LLC Sells 9,858 Shares of PepsiCo, Inc. $PEP

Great Lakes Advisors LLC lessened its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.6% during the 3rd quarter, Holdings Channel reports. The fund owned 621,629 shares of the company’s stock after selling 9,858 shares during the period. Great Lakes Advisors LLC’s holdings in PepsiCo were worth $87,302,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in PEP. Evolution Wealth Management Inc. bought a new stake in shares of PepsiCo in the 2nd quarter valued at about $27,000. JCIC Asset Management Inc. purchased a new position in PepsiCo in the third quarter worth $27,000. Vermillion & White Wealth Management Group LLC increased its position in shares of PepsiCo by 107.1% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 234 shares of the company’s stock worth $31,000 after purchasing an additional 121 shares in the last quarter. Halbert Hargrove Global Advisors LLC lifted its holdings in shares of PepsiCo by 667.7% during the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 238 shares of the company’s stock valued at $33,000 after purchasing an additional 207 shares during the last quarter. Finally, Frazier Financial Advisors LLC boosted its position in shares of PepsiCo by 85.3% in the 2nd quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock worth $35,000 after purchasing an additional 122 shares in the last quarter. 73.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Citigroup increased their price target on PepsiCo from $165.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, December 17th. Exane BNP Paribas upgraded shares of PepsiCo from a “hold” rating to a “strong-buy” rating in a report on Friday, January 16th. HSBC lifted their target price 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. JPMorgan Chase & Co. upgraded shares of PepsiCo from a “neutral” rating to an “overweight” rating and upped their price target for the company from $151.00 to $164.00 in a research note on Wednesday, December 10th. Finally, Rothschild & Co Redburn boosted their price objective on shares of PepsiCo from $117.00 to $120.00 and gave the company a “sell” rating in a report on Monday, December 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, PepsiCo has a consensus rating of “Hold” and an average price target of $159.29.

PepsiCo Stock Down 0.2%

Shares of PEP opened at $148.50 on Thursday. The company has a market capitalization of $203.05 billion, a price-to-earnings ratio of 28.23, a PEG ratio of 4.89 and a beta of 0.42. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $160.15. The stock’s 50-day moving average price is $145.74 and its 200-day moving average price is $145.30. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26.

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Investors of record on Friday, December 5th were paid a $1.4225 dividend. This represents a $5.69 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Friday, December 5th. PepsiCo’s payout ratio is currently 108.17%.

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.