PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by L2 Asset Management LLC

L2 Asset Management LLC trimmed its position in PepsiCo, Inc. (NASDAQ:PEPFree Report) by 95.4% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 163 shares of the company’s stock after selling 3,391 shares during the period. L2 Asset Management LLC’s holdings in PepsiCo were worth $28,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in PEP. DHJJ Financial Advisors Ltd. bought a new position in shares of PepsiCo during the third quarter worth about $25,000. Spotlight Asset Group Inc. acquired a new stake in shares of PepsiCo in the second quarter valued at approximately $27,000. Pacifica Partners Inc. bought a new stake in shares of PepsiCo during the third quarter valued at approximately $27,000. West Tower Group LLC bought a new position in PepsiCo in the 2nd quarter worth approximately $36,000. Finally, VitalStone Financial LLC acquired a new stake in PepsiCo in the 2nd quarter valued at approximately $46,000. 71.40% of the stock is currently owned by institutional investors.

Insider Buying and Selling at PepsiCo

In other PepsiCo news, CFO Hugh F. Johnston sold 48,388 shares of the firm’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $166.65, for a total value of $8,063,860.20. Following the sale, the chief financial officer now directly owns 96,627 shares in the company, valued at approximately $16,102,889.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on PEP shares. Wells Fargo & Company increased their price target on PepsiCo from $170.00 to $172.00 in a research note on Wednesday, October 11th. Wedbush lowered their price objective on shares of PepsiCo from $206.00 to $195.00 and set an “outperform” rating on the stock in a research note on Monday, October 9th. DZ Bank upgraded PepsiCo from a “hold” rating to a “buy” rating and set a $187.00 target price for the company in a research report on Thursday, October 19th. upgraded PepsiCo from a “hold” rating to a “buy” rating in a research report on Friday, October 13th. Finally, Morgan Stanley cut their price objective on PepsiCo from $210.00 to $190.00 and set an “equal weight” rating for the company in a report on Wednesday, October 11th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $186.79.

Read Our Latest Stock Analysis on PepsiCo

PepsiCo Price Performance

PEP stock opened at $170.97 on Monday. The firm has a 50-day moving average of $168.24 and a two-hundred day moving average of $171.73. 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 one year low of $155.83 and a one year high of $196.88. The firm has a market capitalization of $235.06 billion, a PE ratio of 28.50, a P/E/G ratio of 2.57 and a beta of 0.54.

PepsiCo Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 5th. Investors of record on Friday, December 1st were given a dividend of $1.265 per share. The ex-dividend date was Thursday, November 30th. This represents a $5.06 annualized dividend and a dividend yield of 2.96%. PepsiCo’s dividend payout ratio is presently 84.33%.

PepsiCo 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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