Starfire Investment Advisers Inc. Sells 761 Shares of PepsiCo, Inc. (PEP)

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Starfire Investment Advisers Inc. reduced its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 22.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,603 shares of the company’s stock after selling 761 shares during the quarter. Starfire Investment Advisers Inc.’s holdings in PepsiCo were worth $291,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Mainstay Capital Management LLC ADV grew its holdings in PepsiCo by 10,787.0% in the second quarter. Mainstay Capital Management LLC ADV now owns 10,887 shares of the company’s stock valued at $100,000 after purchasing an additional 10,787 shares during the period. WealthTrust Arizona LLC grew its holdings in PepsiCo by 268.7% in the third quarter. WealthTrust Arizona LLC now owns 1,106 shares of the company’s stock valued at $124,000 after purchasing an additional 806 shares during the period. Fort L.P. acquired a new stake in PepsiCo in the second quarter valued at approximately $125,000. Patriot Financial Group Insurance Agency LLC grew its holdings in PepsiCo by 196.0% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 1,119 shares of the company’s stock valued at $125,000 after purchasing an additional 741 shares during the period. Finally, Canton Hathaway LLC acquired a new stake in PepsiCo in the third quarter valued at approximately $127,000. Institutional investors own 70.07% of the company’s stock.

A number of analysts have recently issued reports on the company. Susquehanna Bancshares lowered their price target on PepsiCo from $136.00 to $135.00 and set a “positive” rating on the stock in a research note on Friday, September 28th. Citigroup lowered their price target on PepsiCo from $118.00 to $116.00 and set a “hold” rating on the stock in a research note on Wednesday, October 3rd. Royal Bank of Canada lifted their price target on PepsiCo to $115.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 3rd. BMO Capital Markets lowered their price target on PepsiCo from $110.00 to $109.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 3rd. Finally, Morgan Stanley lowered their price target on PepsiCo from $127.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, October 4th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $117.50.

NASDAQ PEP opened at $108.16 on Friday. The firm has a market cap of $151.73 billion, a price-to-earnings ratio of 20.68, a P/E/G ratio of 2.61 and a beta of 0.67. The company has a current ratio of 1.31, a quick ratio of 1.15 and a debt-to-equity ratio of 2.95. PepsiCo, Inc. has a fifty-two week low of $95.94 and a fifty-two week high of $122.51.

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 7th. Shareholders of record on Friday, December 7th were paid a dividend of $0.9275 per share. This represents a $3.71 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date of this dividend was Thursday, December 6th. PepsiCo’s dividend payout ratio (DPR) is currently 70.94%.

In other PepsiCo news, EVP David Yawman sold 12,024 shares of the business’s stock in a transaction on Tuesday, October 16th. The stock was sold at an average price of $106.99, for a total transaction of $1,286,447.76. Following the transaction, the executive vice president now owns 59,133 shares of the company’s stock, valued at $6,326,639.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mehmood Khan sold 168,295 shares of the business’s stock in a transaction on Tuesday, October 23rd. The stock was sold at an average price of $110.12, for a total value of $18,532,645.40. Following the transaction, the executive vice president now directly owns 173,702 shares in the company, valued at approximately $19,128,064.24. The disclosure for this sale can be found here. Insiders have sold 200,393 shares of company stock worth $22,075,812 in the last three months. 0.27% of the stock is currently owned by corporate insiders.

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PepsiCo Company Profile

PepsiCo, Inc operates as a food and beverage company worldwide. Its Frito-Lay North America segment offers Lay's and Ruffles potato chips; Doritos, Tostitos, and Santitas tortilla chips; and Cheetos snacks, branded dips, and Fritos corn chips. The company's 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 brands Quaker, Aunt Jemima, Cap'n crunch, life, Quaker Chewy, and Rice-A-Roni.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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