Sabal Trust CO boosted its position in PepsiCo, Inc. (NASDAQ:PEP) by 0.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 246,034 shares of the company’s stock after acquiring an additional 1,410 shares during the period. PepsiCo accounts for 2.7% of Sabal Trust CO’s portfolio, making the stock its 11th largest position. Sabal Trust CO’s holdings in PepsiCo were worth $33,626,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of PEP. United Asset Strategies Inc. lifted its stake in PepsiCo by 5.6% in the third quarter. United Asset Strategies Inc. now owns 15,266 shares of the company’s stock valued at $2,093,000 after buying an additional 816 shares during the period. AQR Capital Management LLC lifted its stake in PepsiCo by 27.6% in the second quarter. AQR Capital Management LLC now owns 3,484,704 shares of the company’s stock valued at $456,949,000 after buying an additional 754,455 shares during the period. Commonwealth Equity Services LLC lifted its stake in PepsiCo by 2.4% in the third quarter. Commonwealth Equity Services LLC now owns 677,097 shares of the company’s stock valued at $92,830,000 after buying an additional 16,041 shares during the period. Assetmark Inc. lifted its stake in PepsiCo by 19.0% in the second quarter. Assetmark Inc. now owns 5,417 shares of the company’s stock valued at $710,000 after buying an additional 864 shares during the period. Finally, Great Lakes Advisors LLC lifted its stake in PepsiCo by 6.8% in the third quarter. Great Lakes Advisors LLC now owns 60,188 shares of the company’s stock valued at $8,252,000 after buying an additional 3,843 shares during the period. Institutional investors and hedge funds own 71.14% of the company’s stock.
Several equities analysts have weighed in on the company. BMO Capital Markets reissued a “market perform” rating and issued a $133.00 target price (up previously from $128.00) on shares of PepsiCo in a research note on Friday, October 4th. Credit Suisse Group increased their target price on PepsiCo from $117.00 to $126.00 and gave the company an “underperform” rating in a research note on Friday, October 4th. Deutsche Bank increased their target price on PepsiCo from $141.00 to $142.00 and gave the company a “hold” rating in a research note on Tuesday, September 24th. Evercore ISI reissued a “hold” rating on shares of PepsiCo in a research note on Sunday, December 15th. Finally, Guggenheim set a $130.00 target price on PepsiCo and gave the company a “hold” rating in a research note on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $135.53.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Friday, December 6th were given a dividend of $0.955 per share. This represents a $3.82 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend was Thursday, December 5th. PepsiCo’s dividend payout ratio is currently 67.49%.
PepsiCo Company Profile
PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.
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