Franklin Resources Inc. Purchases 2,264,445 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Franklin Resources Inc. lifted its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 21.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,021,316 shares of the company's stock after purchasing an additional 2,264,445 shares during the quarter. PepsiCo accounts for about 0.6% of Franklin Resources Inc.'s investment portfolio, making the stock its 25th largest holding. Franklin Resources Inc. owned 0.95% of PepsiCo worth $2,293,049,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Global Wealth Strategies & Associates boosted its stake in shares of 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 acquiring an additional 59 shares in the last quarter. Highline Wealth Partners LLC acquired a new stake in PepsiCo during the third quarter worth about $28,000. POM Investment Strategies LLC increased its stake in PepsiCo by 141.3% during 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 period. Summit Securities Group LLC bought a new position in PepsiCo in the second quarter worth $30,000. Finally, Legacy Investment Solutions LLC acquired a new stake in PepsiCo during the third quarter valued at approximately $31,000. Institutional investors and hedge funds own 73.07% of the company's stock.

PepsiCo Trading Down 0.6 %

Shares of PepsiCo stock traded down $0.93 during trading on Friday, reaching $157.97. 4,165,910 shares of the company were exchanged, compared to its average volume of 5,509,151. PepsiCo, Inc. has a twelve month low of $155.85 and a twelve month high of $183.41. The business has a 50-day moving average price of $165.94 and a 200-day moving average price of $169.13. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The firm has a market capitalization of $216.73 billion, a price-to-earnings ratio of 23.44, a P/E/G ratio of 2.92 and a beta of 0.52.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share 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 the consensus estimate of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. PepsiCo's revenue for the quarter was down .6% on a year-over-year basis. During the same period last year, the company posted $2.25 EPS. Sell-side analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The firm 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 dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.43%. The ex-dividend date is Friday, December 6th. PepsiCo's dividend payout ratio (DPR) is presently 79.94%.

Analysts Set New Price Targets

Several research firms recently commented on PEP. JPMorgan Chase & Co. cut their target price on PepsiCo from $185.00 to $183.00 and set a "neutral" rating for the company in a research report on Wednesday, October 9th. Royal Bank of Canada dropped their target price on shares of PepsiCo from $177.00 to $176.00 and set a "sector perform" rating for the company in a research report on Friday, October 4th. Redburn Atlantic raised shares of PepsiCo to a "strong sell" rating in a report on Thursday, October 10th. Morgan Stanley downgraded PepsiCo from an "overweight" rating to an "equal weight" rating and set a $185.00 target price on the stock. in a report on Friday, September 20th. Finally, Deutsche Bank Aktiengesellschaft upgraded PepsiCo from a "hold" rating to a "buy" rating and lifted their price objective for the company from $179.00 to $184.00 in a research report on Thursday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $184.31.

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.