Cornerstone Advisors LLC boosted its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 4.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,200 shares of the company's stock after purchasing an additional 3,300 shares during the period. Cornerstone Advisors LLC's holdings in PepsiCo were worth $12,958,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Global Wealth Strategies & Associates raised its position in PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company's stock worth $27,000 after purchasing an additional 59 shares during the last quarter. Highline Wealth Partners LLC bought a new stake in shares of PepsiCo during the third quarter worth $28,000. POM Investment Strategies LLC boosted 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 acquiring an additional 106 shares during the last quarter. Summit Securities Group LLC acquired a new stake in PepsiCo in the second quarter worth about $30,000. Finally, Mattson Financial Services LLC acquired a new position in PepsiCo during the 2nd quarter valued at about $34,000. Institutional investors and hedge funds own 73.07% of the company's stock.
PepsiCo Stock Performance
Shares of PepsiCo stock opened at $158.74 on Thursday. 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 firm has a market cap of $217.79 billion, a price-to-earnings ratio of 23.41, a price-to-earnings-growth ratio of 2.92 and a beta of 0.53. PepsiCo, Inc. has a one year low of $155.85 and a one year high of $183.41. The stock's 50-day moving average is $169.66 and its 200-day moving average is $171.16.
PepsiCo (NASDAQ:PEP - Get Free Report) last issued its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The company had revenue of $23.32 billion during the quarter, compared to analysts' expectations of $23.86 billion. During the same period last year, the business earned $2.25 EPS. The business's quarterly revenue was down .6% on a year-over-year basis. Equities analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.
PepsiCo Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 6th will be issued a $1.355 dividend. This represents a $5.42 annualized dividend and a dividend yield of 3.41%. The ex-dividend date is Friday, December 6th. PepsiCo's payout ratio is 79.94%.
Analysts Set New Price Targets
PEP has been the subject of a number of recent research reports. TD Cowen downgraded shares of PepsiCo from a "buy" rating to a "hold" rating and dropped their price target for the stock from $190.00 to $183.00 in a research note on Thursday, October 10th. StockNews.com upgraded PepsiCo from a "hold" rating to a "buy" rating in a research report on Tuesday, November 5th. Barclays cut their target price on PepsiCo from $186.00 to $183.00 and set an "overweight" rating on the stock in a research note on Thursday, October 10th. Morgan Stanley lowered PepsiCo from an "overweight" rating to an "equal weight" rating and set a $185.00 target price for the company. in a research report on Friday, September 20th. Finally, Redburn Atlantic raised shares of PepsiCo to a "strong sell" rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, PepsiCo presently has an average rating of "Hold" and a consensus price target of $183.92.
Read Our Latest Stock Report on PEP
About PepsiCo
(
Free Report)
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.
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