Costello Asset Management INC Sells 8,609 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Costello Asset Management INC lessened its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 24.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,761 shares of the company’s stock after selling 8,609 shares during the quarter. PepsiCo comprises 2.7% of Costello Asset Management INC’s investment portfolio, making the stock its 11th largest position. Costello Asset Management INC’s holdings in PepsiCo were worth $4,069,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. International Assets Investment Management LLC raised its holdings in shares of PepsiCo by 17,113.0% during the 3rd quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock valued at $547,626,000 after buying an additional 3,201,676 shares in the last quarter. State Street Corp raised its stake in shares of PepsiCo by 5.1% during the third quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after acquiring an additional 2,775,679 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of PepsiCo by 21.1% in 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 last quarter. Swedbank AB boosted its stake in shares of PepsiCo by 211.4% in the 3rd quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock valued at $398,847,000 after purchasing an additional 1,592,343 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of PepsiCo by 5.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock valued at $3,632,413,000 after purchasing an additional 1,125,059 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Stock Performance

PepsiCo stock opened at $150.69 on Friday. PepsiCo, Inc. has a fifty-two week low of $141.51 and a fifty-two week high of $183.41. The stock has a market cap of $206.75 billion, a price-to-earnings ratio of 22.23, a PEG ratio of 2.91 and a beta of 0.54. The stock’s 50 day simple moving average is $153.12 and its two-hundred day simple moving average is $164.88. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were issued a $1.355 dividend. The ex-dividend date was Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.60%. PepsiCo’s dividend payout ratio (DPR) is 79.94%.

Analyst Ratings Changes

Several analysts have issued reports on PEP shares. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Royal Bank of Canada restated a “sector perform” rating and set a $172.00 price target on shares of PepsiCo in a research report on Wednesday. UBS Group lowered their price objective on PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft cut their target price on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. Finally, Barclays lowered their price target on shares of PepsiCo from $183.00 to $158.00 and set an “overweight” rating for the company in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $176.73.

PepsiCo 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.