PepsiCo, Inc. (NASDAQ:PEP) Shares Acquired by Lincoln National Corp

Lincoln National Corp grew its holdings in PepsiCo, Inc. (NASDAQ:PEPGet Rating) by 1.4% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 30,864 shares of the company’s stock after acquiring an additional 438 shares during the quarter. Lincoln National Corp’s holdings in PepsiCo were worth $5,039,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in PEP. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of PepsiCo by 34.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,128,044 shares of the company’s stock valued at $188,812,000 after acquiring an additional 286,169 shares during the period. AMI Investment Management Inc. grew its holdings in shares of PepsiCo by 0.7% during the first quarter. AMI Investment Management Inc. now owns 16,627 shares of the company’s stock worth $2,783,000 after buying an additional 113 shares during the last quarter. Mather Group LLC. raised its stake in PepsiCo by 29.3% during the 1st quarter. Mather Group LLC. now owns 5,562 shares of the company’s stock valued at $931,000 after acquiring an additional 1,262 shares during the last quarter. Wsfs Capital Management LLC increased its holdings in shares of PepsiCo by 117.2% in the first quarter. Wsfs Capital Management LLC now owns 2,995 shares of the company’s stock valued at $501,000 after purchasing an additional 1,616 shares during the period. Finally, Equitable Holdings Inc. lifted its holdings in shares of PepsiCo by 8.5% during the first quarter. Equitable Holdings Inc. now owns 26,909 shares of the company’s stock worth $4,504,000 after purchasing an additional 2,116 shares during the period. 70.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PEP has been the topic of a number of analyst reports. JPMorgan Chase & Co. lowered their price objective on PepsiCo from $188.00 to $186.00 and set an “overweight” rating on the stock in a report on Friday, September 30th. Redburn Partners started coverage on PepsiCo in a report on Friday, November 4th. They issued a “sell” rating and a $141.00 price target on the stock. Barclays lifted their price target on PepsiCo from $183.00 to $185.00 and gave the stock an “overweight” rating in a research note on Friday, October 14th. StockNews.com upgraded PepsiCo from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 20th. Finally, Wedbush boosted their target price on shares of PepsiCo from $185.00 to $190.00 in a research note on Thursday, October 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, PepsiCo currently has a consensus rating of “Moderate Buy” and an average target price of $183.36.

Insider Activity

In related news, CEO Paula Santilli sold 2,787 shares of the company’s stock in a transaction on Wednesday, October 26th. The shares were sold at an average price of $179.63, for a total transaction of $500,628.81. Following the completion of the sale, the chief executive officer now directly owns 59,997 shares of the company’s stock, valued at approximately $10,777,261.11. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, SVP Marie T. Gallagher sold 5,558 shares of the company’s stock in a transaction on Wednesday, October 26th. The shares were sold at an average price of $180.01, for a total value of $1,000,495.58. Following the completion of the transaction, the senior vice president now directly owns 41,195 shares in the company, valued at $7,415,511.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Paula Santilli sold 2,787 shares of the business’s stock in a transaction on Wednesday, October 26th. The stock was sold at an average price of $179.63, for a total transaction of $500,628.81. Following the completion of the transaction, the chief executive officer now owns 59,997 shares in the company, valued at approximately $10,777,261.11. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.

PepsiCo Price Performance

PEP stock opened at $169.88 on Monday. The company has a market cap of $234.05 billion, a PE ratio of 24.30, a price-to-earnings-growth ratio of 3.04 and a beta of 0.57. The company has a current ratio of 0.92, a quick ratio of 0.72 and a debt-to-equity ratio of 1.89. The stock has a 50-day moving average price of $180.62 and a two-hundred day moving average price of $176.09. PepsiCo, Inc. has a 12-month low of $153.37 and a 12-month high of $186.84.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 6th. Shareholders of record on Friday, December 2nd were paid a dividend of $1.15 per share. The ex-dividend date was Thursday, December 1st. This represents a $4.60 annualized dividend and a yield of 2.71%. PepsiCo’s dividend payout ratio is currently 65.81%.

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

Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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