Clifford Swan Investment Counsel LLC Reduces Position in PepsiCo, Inc. (NASDAQ:PEP)

Clifford Swan Investment Counsel LLC lessened its stake in shares of PepsiCo, Inc. (NASDAQ:PEPGet Rating) by 3.1% during the 3rd quarter, Holdings Channel reports. The firm owned 119,451 shares of the company’s stock after selling 3,830 shares during the quarter. Clifford Swan Investment Counsel LLC’s holdings in PepsiCo were worth $19,502,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of PEP. Charles Schwab Investment Management Inc. lifted its stake in PepsiCo by 10.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 15,264,902 shares of the company’s stock valued at $2,555,040,000 after acquiring an additional 1,427,405 shares during the period. Legal & General Group Plc lifted its stake in PepsiCo by 3.6% during the 2nd quarter. Legal & General Group Plc now owns 10,875,847 shares of the company’s stock valued at $1,812,570,000 after acquiring an additional 374,472 shares during the period. FMR LLC lifted its stake in PepsiCo by 10.0% during the 2nd quarter. FMR LLC now owns 9,947,607 shares of the company’s stock valued at $1,657,869,000 after acquiring an additional 902,261 shares during the period. Deutsche Bank AG lifted its stake in PepsiCo by 10.5% during the 2nd quarter. Deutsche Bank AG now owns 9,235,919 shares of the company’s stock valued at $1,539,254,000 after acquiring an additional 875,296 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in PepsiCo by 6.7% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,499,034 shares of the company’s stock valued at $749,809,000 after acquiring an additional 282,600 shares during the period. Hedge funds and other institutional investors own 70.76% of the company’s stock.

PepsiCo Price Performance

Shares of PepsiCo stock traded down $0.28 during trading hours on Wednesday, reaching $170.41. 308,628 shares of the company’s stock were exchanged, compared to its average volume of 4,261,339. PepsiCo, Inc. has a 1 year low of $153.37 and a 1 year high of $186.84. The company has a market capitalization of $234.78 billion, a P/E ratio of 24.42, a price-to-earnings-growth ratio of 3.03 and a beta of 0.57. The business has a fifty day moving average of $180.33 and a two-hundred day moving average of $176.02. The company has a quick ratio of 0.72, a current ratio of 0.92 and a debt-to-equity ratio of 1.89.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 6th. Investors of record on Friday, December 2nd were issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date was Thursday, December 1st. PepsiCo’s dividend payout ratio is currently 65.81%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Wells Fargo & Company boosted their target price on shares of PepsiCo from $174.00 to $190.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 3rd. Redburn Partners assumed coverage on shares of PepsiCo in a research note on Friday, November 4th. They issued a “sell” rating and a $141.00 target price for the company. Deutsche Bank Aktiengesellschaft boosted their target price on shares of PepsiCo from $181.00 to $186.00 and gave the company a “hold” rating in a research note on Tuesday, December 6th. Royal Bank of Canada boosted their target price on shares of PepsiCo from $165.00 to $170.00 and gave the company a “sector perform” rating in a research note on Thursday, October 13th. Finally, Credit Suisse Group cut their price target on shares of PepsiCo from $173.00 to $172.00 and set a “neutral” rating for the company in a report on Monday, October 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $183.36.

PepsiCo Company Profile

(Get Rating)

PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of beverages, food, and snacks. It operates through the following business segments: Frito-Lay North America (FLNA), Quaker Foods North America (QFNA), PepsiCo Beverages North America (PBNA), Latin America (LatAm), Europe, Africa, Middle East, and South Asia (AMESA), and Asia Pacific, Australia and New Zealand, and China Region (APAC).

Further Reading

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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