Eaton Financial Holdings Company LLC Invests $1.69 Million in PepsiCo, Inc. (NASDAQ:PEP)

Eaton Financial Holdings Company LLC bought a new stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 9,936 shares of the company's stock, valued at approximately $1,690,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Global Wealth Strategies & Associates boosted its position in PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company's stock worth $27,000 after buying an additional 59 shares during the period. Highline Wealth Partners LLC bought a new stake in shares of PepsiCo in the third quarter worth $28,000. POM Investment Strategies LLC increased its holdings in PepsiCo by 141.3% in the second quarter. POM Investment Strategies LLC now owns 181 shares of the company's stock valued at $30,000 after purchasing an additional 106 shares during the period. Summit Securities Group LLC bought a new position in PepsiCo during the 2nd quarter worth $30,000. Finally, Legacy Investment Solutions LLC bought a new stake in shares of PepsiCo in the 3rd quarter valued at about $31,000. Institutional investors own 73.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. TD Cowen cut shares of PepsiCo from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $190.00 to $183.00 in a research report on Thursday, October 10th. Redburn Atlantic raised PepsiCo to a "strong sell" rating in a research report on Thursday, October 10th. Hsbc Global Res upgraded PepsiCo to a "hold" rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. lowered their target price on PepsiCo from $185.00 to $183.00 and set a "neutral" rating for the company in a report on Wednesday, October 9th. Finally, StockNews.com raised shares of PepsiCo from a "hold" rating to a "buy" rating in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $184.31.

PepsiCo Stock Performance

Shares of PepsiCo stock traded up $2.13 during trading hours on Thursday, hitting $158.90. 6,707,042 shares of the company's stock traded hands, compared to its average volume of 5,514,155. The company has a fifty day simple moving average of $166.14 and a 200-day simple moving average of $169.20. 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 stock has a market capitalization of $218.01 billion, a price-to-earnings ratio of 23.47, a PEG ratio of 2.94 and a beta of 0.52. PepsiCo, Inc. has a 12-month low of $155.85 and a 12-month 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.30 by $0.01. The business had revenue of $23.32 billion for the quarter, compared to analysts' expectations of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The firm's quarterly revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the business posted $2.25 EPS. Equities research analysts anticipate 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. Stockholders 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 dividend yield of 3.41%. The ex-dividend date is Friday, December 6th. PepsiCo's dividend payout ratio is presently 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.