Cardinal Capital Management Inc. Has $13.77 Million Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Cardinal Capital Management Inc. trimmed its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 1.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 90,565 shares of the company’s stock after selling 1,305 shares during the quarter. Cardinal Capital Management Inc.’s holdings in PepsiCo were worth $13,771,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. State Street Corp grew its holdings in shares of PepsiCo by 5.1% during the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after purchasing an additional 2,775,679 shares in the last quarter. Geode Capital Management LLC lifted its position in PepsiCo by 1.8% in the third quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock worth $5,170,529,000 after purchasing an additional 543,558 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in PepsiCo by 5.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock worth $3,632,413,000 after buying an additional 1,125,059 shares in the last quarter. Legal & General Group Plc increased its holdings in PepsiCo by 7.2% in the 2nd quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock valued at $2,234,400,000 after buying an additional 905,468 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in shares of PepsiCo by 21.1% during the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock worth $2,293,049,000 after acquiring an additional 2,264,445 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PEP. Royal Bank of Canada lowered their target price on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Barclays decreased their price target on PepsiCo from $183.00 to $158.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Finally, Bank of America lowered their target price on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $178.20.

PepsiCo Stock Up 0.4 %

Shares of PEP opened at $148.62 on Friday. The firm has a market capitalization of $203.91 billion, a price-to-earnings ratio of 21.92, a PEG ratio of 2.86 and a beta of 0.54. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The business’s fifty day moving average price is $154.40 and its two-hundred day moving average price is $165.52.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were given a $1.355 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.65%. PepsiCo’s payout ratio is 79.94%.

PepsiCo Company Profile

PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of 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.