PepsiCo, Inc. $PEP Shares Sold by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 93.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,052 shares of the company’s stock after selling 62,374 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in PepsiCo were worth $569,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. Brighton Jones LLC grew its position in PepsiCo by 12.4% during the 4th quarter. Brighton Jones LLC now owns 59,392 shares of the company’s stock worth $9,031,000 after purchasing an additional 6,574 shares during the last quarter. Caxton Associates LLP acquired a new stake in shares of PepsiCo during the first quarter worth about $251,000. Balefire LLC purchased a new position in shares of PepsiCo during the second quarter worth about $322,000. Pallas Capital Advisors LLC increased its position in PepsiCo by 94.3% in the 2nd quarter. Pallas Capital Advisors LLC now owns 18,801 shares of the company’s stock valued at $2,483,000 after acquiring an additional 9,123 shares during the period. Finally, Sunpointe LLC raised its stake in PepsiCo by 25.6% during the 2nd quarter. Sunpointe LLC now owns 2,337 shares of the company’s stock valued at $309,000 after acquiring an additional 476 shares during the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Price Performance

NASDAQ:PEP opened at $146.57 on Friday. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $160.15. The firm has a market cap of $200.41 billion, a price-to-earnings ratio of 27.87, a price-to-earnings-growth ratio of 4.78 and a beta of 0.42. The company’s 50-day moving average is $145.55 and its two-hundred day moving average is $144.51. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26.

PepsiCo Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have weighed in on PEP. JPMorgan Chase & Co. upgraded PepsiCo from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $151.00 to $164.00 in a research note on Wednesday, December 10th. Bank of America lifted 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. Loop Capital set a $164.00 price objective on shares of PepsiCo in a research report on Thursday, October 23rd. Wall Street Zen downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Saturday, December 27th. Finally, BNP Paribas upgraded shares of PepsiCo from a “neutral” rating to an “outperform” rating in a research report on Friday. Nine research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $158.58.

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.