McKinley Carter Wealth Services Inc. purchased a new position in shares of PepsiCo, Inc. (NASDAQ:PEP) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 27,951 shares of the company’s stock, valued at approximately $3,125,000. PepsiCo makes up 0.9% of McKinley Carter Wealth Services Inc.’s portfolio, making the stock its 27th largest position.
Several other hedge funds and other institutional investors have also recently bought and sold shares of PEP. Mainstay Capital Management LLC ADV boosted its position in PepsiCo by 10,787.0% in the second quarter. Mainstay Capital Management LLC ADV now owns 10,887 shares of the company’s stock valued at $100,000 after buying an additional 10,787 shares in the last quarter. WealthTrust Arizona LLC raised its stake in shares of PepsiCo by 268.7% during the third quarter. WealthTrust Arizona LLC now owns 1,106 shares of the company’s stock valued at $124,000 after acquiring an additional 806 shares during the last quarter. Fort L.P. bought a new position in shares of PepsiCo during the second quarter valued at $125,000. Patriot Financial Group Insurance Agency LLC raised its stake in shares of PepsiCo by 196.0% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 1,119 shares of the company’s stock valued at $125,000 after acquiring an additional 741 shares during the last quarter. Finally, Canton Hathaway LLC bought a new position in shares of PepsiCo during the third quarter valued at $127,000. Institutional investors and hedge funds own 70.07% of the company’s stock.
In related news, EVP Mehmood Khan sold 168,295 shares of PepsiCo stock in a transaction on Tuesday, October 23rd. The shares were sold at an average price of $110.12, for a total transaction of $18,532,645.40. Following the completion of the transaction, the executive vice president now owns 173,702 shares of the company’s stock, valued at $19,128,064.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP David Yawman sold 12,024 shares of PepsiCo stock in a transaction on Tuesday, October 16th. The stock was sold at an average price of $106.99, for a total transaction of $1,286,447.76. Following the transaction, the executive vice president now directly owns 59,133 shares of the company’s stock, valued at approximately $6,326,639.67. The disclosure for this sale can be found here. Insiders have sold 200,393 shares of company stock valued at $22,075,812 in the last three months. 0.27% of the stock is owned by insiders.
PEP has been the subject of several analyst reports. ValuEngine raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Saturday, December 1st. Zacks Investment Research reaffirmed a “sell” rating on shares of PepsiCo in a research note on Monday, December 31st. Macquarie set a $122.00 price target on shares of PepsiCo and gave the company an “outperform” rating in a research note on Friday, September 28th. BidaskClub downgraded shares of PepsiCo from a “hold” rating to a “sell” rating in a research note on Thursday, September 27th. Finally, Deutsche Bank dropped their price target on shares of PepsiCo from $118.00 to $116.00 and set a “hold” rating for the company in a research note on Wednesday, October 3rd. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $117.50.
Shares of NASDAQ PEP opened at $108.16 on Monday. PepsiCo, Inc. has a twelve month low of $95.94 and a twelve month high of $122.51. The firm has a market cap of $151.73 billion, a P/E ratio of 20.68, a PEG ratio of 2.61 and a beta of 0.67. The company has a quick ratio of 1.15, a current ratio of 1.31 and a debt-to-equity ratio of 2.95.
The company also recently announced a quarterly dividend, which was paid on Monday, January 7th. Investors of record on Friday, December 7th were paid a dividend of $0.9275 per share. This represents a $3.71 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date of this dividend was Thursday, December 6th. PepsiCo’s dividend payout ratio is presently 70.94%.
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PepsiCo Company Profile
PepsiCo, Inc operates as a food and beverage company worldwide. Its Frito-Lay North America segment offers Lay's and Ruffles potato chips; Doritos, Tostitos, and Santitas tortilla chips; and Cheetos snacks, branded dips, and Fritos corn chips. The company's 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 brands Quaker, Aunt Jemima, Cap'n crunch, life, Quaker Chewy, and Rice-A-Roni.
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