Highland Capital Management LLC Boosts Stake in PepsiCo, Inc. (NASDAQ:PEP)

Highland Capital Management LLC increased its position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 2.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 91,503 shares of the company's stock after purchasing an additional 2,146 shares during the quarter. PepsiCo makes up about 0.8% of Highland Capital Management LLC's investment portfolio, making the stock its 23rd largest holding. Highland Capital Management LLC's holdings in PepsiCo were worth $13,914,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ferguson Shapiro LLC boosted its position in shares of PepsiCo by 5.9% in the 4th quarter. Ferguson Shapiro LLC now owns 1,806 shares of the company's stock worth $275,000 after purchasing an additional 101 shares in the last quarter. Franklin Parlapiano Turner & Welch LLC boosted its holdings in PepsiCo by 2.7% in the fourth quarter. Franklin Parlapiano Turner & Welch LLC now owns 45,527 shares of the company's stock worth $6,923,000 after acquiring an additional 1,201 shares in the last quarter. Hanson & Doremus Investment Management increased its holdings in shares of PepsiCo by 25.8% during the fourth quarter. Hanson & Doremus Investment Management now owns 5,669 shares of the company's stock valued at $862,000 after acquiring an additional 1,162 shares in the last quarter. Plimoth Trust Co. LLC raised its position in shares of PepsiCo by 3.6% in the 4th quarter. Plimoth Trust Co. LLC now owns 17,272 shares of the company's stock worth $2,626,000 after purchasing an additional 604 shares during the last quarter. Finally, Ibex Wealth Advisors purchased a new stake in PepsiCo during the 4th quarter valued at about $217,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. StockNews.com raised shares of PepsiCo from a "hold" rating to a "buy" rating in a report on Tuesday, November 5th. Barclays cut their target price on PepsiCo from $183.00 to $158.00 and set an "overweight" rating on the stock in a research note on Friday, January 17th. Royal Bank of Canada restated a "sector perform" rating and issued a $172.00 price target on shares of PepsiCo in a research note on Wednesday. JPMorgan Chase & Co. reduced their price objective on PepsiCo from $183.00 to $165.00 and set a "neutral" rating for the company in a report on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of PepsiCo from $184.00 to $178.00 and set a "buy" rating on the stock in a research note on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $176.73.

PepsiCo Stock Performance

Shares of NASDAQ PEP traded up $1.18 during trading on Thursday, hitting $151.55. The company had a trading volume of 2,502,565 shares, compared to its average volume of 6,539,499. PepsiCo, Inc. has a 12 month low of $141.51 and a 12 month 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 firm has a market capitalization of $207.92 billion, a P/E ratio of 22.41, a price-to-earnings-growth ratio of 2.86 and a beta of 0.54. The stock has a 50 day simple moving average of $153.51 and a 200 day simple moving average of $165.07.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were given a dividend of $1.355 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.58%. PepsiCo's payout ratio is 79.94%.

About PepsiCo

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.