Mattern Capital Management LLC Acquires 3,035 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Mattern Capital Management LLC boosted its position in shares of PepsiCo, Inc. (NASDAQ:PEPFree Report) by 8.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 40,866 shares of the company’s stock after buying an additional 3,035 shares during the period. Mattern Capital Management LLC’s holdings in PepsiCo were worth $6,924,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Janney Capital Management LLC increased its holdings in shares of PepsiCo by 1.4% in the 3rd quarter. Janney Capital Management LLC now owns 80,461 shares of the company’s stock valued at $13,633,000 after acquiring an additional 1,084 shares during the period. Archer Investment Corp increased its holdings in shares of PepsiCo by 8.5% in the 3rd quarter. Archer Investment Corp now owns 10,641 shares of the company’s stock valued at $1,803,000 after acquiring an additional 834 shares during the period. Landscape Capital Management L.L.C. purchased a new position in shares of PepsiCo in the 3rd quarter valued at $14,707,000. Spinnaker Trust increased its holdings in shares of PepsiCo by 0.7% in the 3rd quarter. Spinnaker Trust now owns 31,710 shares of the company’s stock valued at $5,373,000 after acquiring an additional 213 shares during the period. Finally, Spire Wealth Management boosted its position in shares of PepsiCo by 88.4% in the 3rd quarter. Spire Wealth Management now owns 50,439 shares of the company’s stock worth $8,546,000 after purchasing an additional 23,668 shares in the last quarter. 71.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at PepsiCo

In related news, CFO Hugh F. Johnston sold 48,388 shares of PepsiCo stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $166.65, for a total value of $8,063,860.20. Following the completion of the transaction, the chief financial officer now owns 96,627 shares in the company, valued at approximately $16,102,889.55. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.15% of the stock is owned by company insiders.

PepsiCo Stock Performance

Shares of NASDAQ PEP traded down $0.57 during trading on Monday, reaching $170.40. 866,774 shares of the company traded hands, compared to its average volume of 5,027,069. The company has a current ratio of 0.88, a quick ratio of 0.71 and a debt-to-equity ratio of 1.89. PepsiCo, Inc. has a 12-month low of $155.83 and a 12-month high of $196.88. The firm’s fifty day simple moving average is $168.24 and its 200 day simple moving average is $171.73. The stock has a market cap of $234.28 billion, a P/E ratio of 28.50, a PEG ratio of 2.57 and a beta of 0.54.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 5th. Investors of record on Friday, December 1st were paid a $1.265 dividend. The ex-dividend date was Thursday, November 30th. This represents a $5.06 annualized dividend and a dividend yield of 2.97%. PepsiCo’s dividend payout ratio is presently 84.33%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Morgan Stanley lowered their price objective on PepsiCo from $210.00 to $190.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 11th. Barclays lowered their price objective on PepsiCo from $181.00 to $179.00 and set an “overweight” rating for the company in a research report on Tuesday, January 16th. JPMorgan Chase & Co. cut PepsiCo from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $185.00 to $176.00 in a research report on Tuesday, December 19th. Citigroup lowered their price target on PepsiCo from $200.00 to $180.00 and set a “neutral” rating for the company in a research report on Wednesday, October 11th. Finally, Wedbush lowered their price target on PepsiCo from $206.00 to $195.00 and set an “outperform” rating for the company in a research report on Monday, October 9th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, PepsiCo currently has a consensus rating of “Hold” and a consensus target price of $186.79.

Check Out Our Latest Stock Report on PEP

PepsiCo Company Profile

(Free Report)

PepsiCo, Inc manufactures, markets, distributes, and sells various beverages and convenient foods worldwide. The company operates through seven segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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