Livingston Group Asset Management CO operating as Southport Capital Management Lowers Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Livingston Group Asset Management CO operating as Southport Capital Management lowered its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 31,712 shares of the company’s stock after selling 1,253 shares during the period. PepsiCo makes up approximately 1.7% of Livingston Group Asset Management CO operating as Southport Capital Management’s holdings, making the stock its 8th biggest position. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in PepsiCo were worth $4,334,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. grew its position in PepsiCo by 1.4% in the 2nd quarter. BlackRock Inc. now owns 102,361,480 shares of the company’s stock worth $13,422,659,000 after purchasing an additional 1,413,723 shares during the period. State Street Corp grew its position in PepsiCo by 1.4% in the 3rd quarter. State Street Corp now owns 66,734,823 shares of the company’s stock worth $9,149,344,000 after purchasing an additional 890,014 shares during the period. Morgan Stanley grew its position in PepsiCo by 1.1% in the 2nd quarter. Morgan Stanley now owns 11,058,425 shares of the company’s stock worth $1,450,090,000 after purchasing an additional 117,564 shares during the period. Nuveen Asset Management LLC grew its position in PepsiCo by 9,617.2% in the 2nd quarter. Nuveen Asset Management LLC now owns 9,770,327 shares of the company’s stock worth $1,281,183,000 after purchasing an additional 9,669,780 shares during the period. Finally, California Public Employees Retirement System grew its position in PepsiCo by 6.7% in the 3rd quarter. California Public Employees Retirement System now owns 9,480,885 shares of the company’s stock worth $1,299,829,000 after purchasing an additional 593,811 shares during the period. 71.14% of the stock is currently owned by hedge funds and other institutional investors.

PEP stock traded up $0.48 during mid-day trading on Thursday, hitting $139.68. The company had a trading volume of 1,274,035 shares, compared to its average volume of 3,649,497. The company has a market capitalization of $190.83 billion, a price-to-earnings ratio of 24.68, a P/E/G ratio of 3.30 and a beta of 0.53. PepsiCo, Inc. has a 12-month low of $107.70 and a 12-month high of $140.45. The company has a quick ratio of 0.77, a current ratio of 0.95 and a debt-to-equity ratio of 2.08. The company has a 50-day moving average price of $136.51 and a 200 day moving average price of $134.57.

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Friday, December 6th were paid a $0.955 dividend. This represents a $3.82 annualized dividend and a yield of 2.73%. The ex-dividend date was Thursday, December 5th. PepsiCo’s payout ratio is currently 67.49%.

PEP has been the subject of a number of research analyst reports. Morgan Stanley downgraded shares of PepsiCo from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 16th. Citigroup boosted their price objective on shares of PepsiCo from $139.00 to $143.00 and gave the company a “neutral” rating in a research report on Friday, October 4th. JPMorgan Chase & Co. set a $154.00 price objective on shares of PepsiCo and gave the company a “buy” rating in a research report on Thursday, October 3rd. ValuEngine downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Evercore ISI reissued a “hold” rating on shares of PepsiCo in a research report on Sunday, December 15th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $135.53.

PepsiCo 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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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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