OneAscent Financial Services LLC Purchases New Shares in PepsiCo, Inc. (NASDAQ:PEP)

OneAscent Financial Services LLC acquired a new stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,031 shares of the company's stock, valued at approximately $856,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Meixler Investment Management Ltd. grew its holdings in PepsiCo by 4.4% during the second quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company's stock worth $228,000 after buying an additional 58 shares in the last quarter. Opes Wealth Management LLC grew its holdings in PepsiCo by 2.2% during the second quarter. Opes Wealth Management LLC now owns 2,748 shares of the company's stock worth $453,000 after buying an additional 59 shares in the last quarter. Global Wealth Strategies & Associates grew its holdings in PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company's stock worth $27,000 after buying an additional 59 shares in the last quarter. Bank of Stockton grew its stake in PepsiCo by 2.3% in the 2nd quarter. Bank of Stockton now owns 2,716 shares of the company's stock valued at $448,000 after purchasing an additional 60 shares during the period. Finally, Oxbow Advisors LLC grew its stake in PepsiCo by 0.7% in the 2nd quarter. Oxbow Advisors LLC now owns 8,982 shares of the company's stock valued at $1,481,000 after purchasing an additional 60 shares during the period. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Price Performance

Shares of NASDAQ:PEP traded down $1.61 on Tuesday, hitting $156.72. The company's stock had a trading volume of 7,195,365 shares, compared to its average volume of 5,479,357. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. The company has a market capitalization of $215.02 billion, a PE ratio of 23.12, a PEG ratio of 2.96 and a beta of 0.53. The company has a 50-day simple moving average of $170.00 and a 200 day simple moving average of $171.24. PepsiCo, Inc. has a 1 year low of $155.85 and a 1 year high of $183.41.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.30 by $0.01. The firm had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The company's revenue was down .6% on a year-over-year basis. During the same period in the prior year, the company earned $2.25 EPS. Sell-side analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 6th will be given a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a yield of 3.46%. PepsiCo's payout ratio is 79.94%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Bank of America reduced their price objective on PepsiCo from $190.00 to $185.00 and set a "buy" rating for the company in a research note on Monday, September 30th. Royal Bank of Canada reduced their price objective on PepsiCo from $177.00 to $176.00 and set a "sector perform" rating for the company in a research note on Friday, October 4th. Barclays reduced their price objective on PepsiCo from $186.00 to $183.00 and set an "overweight" rating for the company in a research note on Thursday, October 10th. JPMorgan Chase & Co. dropped their price target on PepsiCo from $185.00 to $183.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 9th. Finally, Morgan Stanley cut PepsiCo from an "overweight" rating to an "equal weight" rating and set a $185.00 price target on the stock. in a research report on Friday, September 20th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $183.92.

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.