Bernzott Capital Advisors Has $6.99 Million Position in PepsiCo, Inc. (NASDAQ:PEP)
Bernzott Capital Advisors reduced its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 6.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 58,184 shares of the company’s stock after selling 4,196 shares during the quarter. Bernzott Capital Advisors’ holdings in PepsiCo were worth $6,988,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of PEP. Front Barnett Associates LLC grew its holdings in shares of PepsiCo by 0.9% in the first quarter. Front Barnett Associates LLC now owns 126,262 shares of the company’s stock valued at $15,164,000 after acquiring an additional 1,103 shares in the last quarter. Intellectus Partners LLC purchased a new stake in shares of PepsiCo during the first quarter worth $383,000. Accident Compensation Corp lifted its position in shares of PepsiCo by 31.6% during the first quarter. Accident Compensation Corp now owns 38,337 shares of the company’s stock worth $4,604,000 after acquiring an additional 9,200 shares in the last quarter. Kinneret Advisory LLC lifted its position in shares of PepsiCo by 12.6% during the first quarter. Kinneret Advisory LLC now owns 42,273 shares of the company’s stock worth $5,077,000 after acquiring an additional 4,729 shares in the last quarter. Finally, PFS Investments Inc. bought a new position in shares of PepsiCo during the first quarter valued at about $621,000. 70.71% of the stock is currently owned by institutional investors and hedge funds.
Shares of PEP stock traded up $1.87 during trading hours on Friday, hitting $132.44. 6,989,014 shares of the company’s stock traded hands, compared to its average volume of 6,200,209. The stock’s fifty day simple moving average is $132.92 and its two-hundred day simple moving average is $134.60. PepsiCo, Inc. has a 12-month low of $101.42 and a 12-month high of $147.20. The stock has a market cap of $181.17 billion, a price-to-earnings ratio of 25.72, a PEG ratio of 4.99 and a beta of 0.59. The company has a quick ratio of 0.94, a current ratio of 1.10 and a debt-to-equity ratio of 2.61.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be given a dividend of $1.0225 per share. The ex-dividend date is Thursday, June 4th. This represents a $4.09 annualized dividend and a dividend yield of 3.09%. This is an increase from PepsiCo’s previous quarterly dividend of $0.96. PepsiCo’s dividend payout ratio (DPR) is 73.96%.
PEP has been the topic of a number of recent research reports. Credit Suisse Group raised PepsiCo from an “underperform” rating to an “outperform” rating and raised their price objective for the company from $138.00 to $144.00 in a research note on Friday, March 27th. Barclays reaffirmed a “hold” rating and set a $136.00 price objective on shares of PepsiCo in a research note on Friday, April 17th. Goldman Sachs Group initiated coverage on PepsiCo in a research note on Wednesday, April 1st. They issued a “conviction-buy” rating on the stock. DZ Bank reissued a “buy” rating and issued a $136.00 target price on shares of PepsiCo in a research note on Thursday, March 26th. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $153.00 target price on shares of PepsiCo in a research note on Tuesday, April 14th. Nine analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. PepsiCo presently has an average rating of “Buy” and a consensus target price of $142.00.
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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