New Millennium Group LLC Buys 7,038 Shares of PepsiCo, Inc. (NASDAQ:PEP)

New Millennium Group LLC lifted its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 2,738.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 7,295 shares of the company's stock after acquiring an additional 7,038 shares during the period. PepsiCo makes up about 0.8% of New Millennium Group LLC's investment portfolio, making the stock its 29th biggest position. New Millennium Group LLC's holdings in PepsiCo were worth $1,241,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. International Assets Investment Management LLC lifted its holdings in PepsiCo by 17,113.0% during the 3rd quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company's stock valued at $547,626,000 after purchasing an additional 3,201,676 shares during the last quarter. Swedbank AB lifted its holdings in PepsiCo by 211.4% during the 3rd quarter. Swedbank AB now owns 2,345,467 shares of the company's stock valued at $398,847,000 after purchasing an additional 1,592,343 shares during the last quarter. PineStone Asset Management Inc. lifted its holdings in PepsiCo by 125.2% during the 2nd quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company's stock valued at $452,003,000 after purchasing an additional 1,523,631 shares during the last quarter. Legal & General Group Plc lifted its holdings in PepsiCo by 7.2% during the 2nd quarter. Legal & General Group Plc now owns 13,547,547 shares of the company's stock valued at $2,234,400,000 after purchasing an additional 905,468 shares during the last quarter. Finally, Janney Montgomery Scott LLC bought a new position in PepsiCo during the 3rd quarter valued at about $151,749,000. 73.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PEP. TD Cowen downgraded shares of PepsiCo from a "buy" rating to a "hold" rating and cut their price target for the company from $190.00 to $183.00 in a report on Thursday, October 10th. JPMorgan Chase & Co. dropped their target price on shares of PepsiCo from $185.00 to $183.00 and set a "neutral" rating for the company in a research note on Wednesday, October 9th. Hsbc Global Res raised shares of PepsiCo to a "hold" rating in a research note on Thursday, October 10th. StockNews.com raised shares of PepsiCo from a "hold" rating to a "buy" rating in a research note on Tuesday, November 5th. Finally, Morgan Stanley downgraded shares of PepsiCo from an "overweight" rating to an "equal weight" rating and set a $185.00 target price for the company. in a research note 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. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $183.92.

PepsiCo Trading Down 1.0 %

Shares of NASDAQ:PEP traded down $1.61 during trading on Tuesday, hitting $156.72. 7,195,365 shares of the company's stock were exchanged, compared to its average volume of 5,479,357. PepsiCo, Inc. has a 1-year low of $155.85 and a 1-year high of $183.41. The firm has a 50-day moving average price of $170.42 and a two-hundred day moving average price of $171.38. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The firm has a market cap of $215.02 billion, a P/E ratio of 23.13, a PEG ratio of 2.96 and a beta of 0.53.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued 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 firm had revenue of $23.32 billion during the quarter, compared to analysts' expectations of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The business's revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.25 earnings per share. Equities analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Announces Dividend

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