Pacific Wealth Strategies Group Inc. decreased its position in PepsiCo, Inc. (NASDAQ:PEP) by 3.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,627 shares of the company’s stock after selling 182 shares during the period. Pacific Wealth Strategies Group Inc.’s holdings in PepsiCo were worth $634,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of PEP. Venturi Wealth Management LLC lifted its stake in PepsiCo by 13.7% during the 4th quarter. Venturi Wealth Management LLC now owns 67,356 shares of the company’s stock valued at $7,293,000 after acquiring an additional 8,132 shares during the period. Tibra Equities Europe Ltd bought a new position in PepsiCo in the 4th quarter worth approximately $2,872,000. Burney Co. boosted its stake in PepsiCo by 2.4% in the 4th quarter. Burney Co. now owns 79,452 shares of the company’s stock worth $8,778,000 after purchasing an additional 1,825 shares during the period. Matthew Goff Investment Advisor LLC boosted its stake in PepsiCo by 3.1% in the 4th quarter. Matthew Goff Investment Advisor LLC now owns 44,057 shares of the company’s stock worth $4,867,000 after purchasing an additional 1,304 shares during the period. Finally, Northern Trust Corp boosted its stake in PepsiCo by 3.2% in the 4th quarter. Northern Trust Corp now owns 20,185,841 shares of the company’s stock worth $2,230,132,000 after purchasing an additional 623,727 shares during the period. Institutional investors and hedge funds own 71.46% of the company’s stock.
Several research analysts have weighed in on the company. Jefferies Financial Group upped their price target on PepsiCo from $123.00 to $134.00 and gave the stock a “hold” rating in a research note on Wednesday, July 10th. Citigroup upped their price target on PepsiCo from $139.00 to $143.00 and gave the stock a “neutral” rating in a research note on Friday, October 4th. Atlantic Securities initiated coverage on PepsiCo in a research note on Monday, July 29th. They issued an “overweight” rating and a $145.00 price target for the company. BMO Capital Markets reiterated a “market perform” rating and set a $133.00 target price (up from $128.00) on shares of PepsiCo in a research report on Friday, October 4th. Finally, Deutsche Bank increased their target price on PepsiCo from $141.00 to $142.00 and gave the company a “hold” rating in a research report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. PepsiCo presently has an average rating of “Hold” and an average price target of $135.53.
Shares of NASDAQ PEP traded up $0.21 during midday trading on Wednesday, reaching $137.45. 458,528 shares of the stock traded hands, compared to its average volume of 4,669,979. The company has a debt-to-equity ratio of 2.08, a current ratio of 0.95 and a quick ratio of 0.77. The stock has a market capitalization of $195.61 billion, a PE ratio of 24.28, a P/E/G ratio of 3.65 and a beta of 0.56. PepsiCo, Inc. has a one year low of $104.53 and a one year high of $140.45. The company’s 50 day moving average is $135.67 and its 200 day moving average is $130.39.
PepsiCo (NASDAQ:PEP) last posted its earnings results on Thursday, October 3rd. The company reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.06. The firm had revenue of $17.19 billion during the quarter, compared to the consensus estimate of $16.93 billion. PepsiCo had a return on equity of 55.00% and a net margin of 18.78%. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.59 EPS. As a group, equities analysts forecast that PepsiCo, Inc. will post 5.5 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 6th were given a $0.955 dividend. The ex-dividend date was Thursday, September 5th. This represents a $3.82 dividend on an annualized basis and a yield of 2.78%. PepsiCo’s dividend payout ratio is presently 67.49%.
PepsiCo Company Profile
PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its 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 Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.
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