Peapack Gladstone Financial Corp Raises Position in PepsiCo, Inc. (NASDAQ:PEP)

Peapack Gladstone Financial Corp boosted its position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 1.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 422,080 shares of the company's stock after purchasing an additional 4,768 shares during the period. PepsiCo comprises approximately 1.0% of Peapack Gladstone Financial Corp's portfolio, making the stock its 20th biggest holding. Peapack Gladstone Financial Corp's holdings in PepsiCo were worth $71,774,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Global Wealth Strategies & Associates lifted its position in shares of 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 acquiring an additional 59 shares in the last quarter. Highline Wealth Partners LLC bought a new position in shares of PepsiCo in the third quarter worth $28,000. POM Investment Strategies LLC increased its holdings in shares of PepsiCo by 141.3% in the second quarter. POM Investment Strategies LLC now owns 181 shares of the company's stock worth $30,000 after purchasing an additional 106 shares during the period. Summit Securities Group LLC bought a new position in shares of PepsiCo in the second quarter worth $30,000. Finally, Legacy Investment Solutions LLC bought a new position in shares of PepsiCo in the third quarter worth $31,000. Hedge funds and other institutional investors own 73.07% of the company's stock.

PepsiCo Trading Down 0.6 %

NASDAQ PEP traded down $0.93 during trading on Friday, hitting $157.97. 4,166,791 shares of the company's stock traded hands, compared to its average volume of 5,509,020. 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 fifty day moving average of $165.94 and a two-hundred day moving average of $169.13. The firm has a market cap of $216.73 billion, a P/E ratio of 23.44, a PEG ratio of 2.92 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 posted its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping analysts' consensus estimates of $2.30 by $0.01. The company had revenue of $23.32 billion during the quarter, compared to analyst estimates 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 in the prior year, the business posted $2.25 earnings per share. As a group, sell-side analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.43%. PepsiCo's dividend payout ratio is currently 79.94%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Royal Bank of Canada decreased their price target on shares of PepsiCo from $177.00 to $176.00 and set a "sector perform" rating on the stock in a report on Friday, October 4th. Barclays decreased their price target on shares of PepsiCo from $186.00 to $183.00 and set an "overweight" rating on the stock in a report on Thursday, October 10th. TD Cowen cut PepsiCo from a "buy" rating to a "hold" rating and reduced their target price for the company from $190.00 to $183.00 in a research note on Thursday, October 10th. Bank of America reduced their target price on PepsiCo from $190.00 to $185.00 and set a "buy" rating on the stock in a research note on Monday, September 30th. Finally, Hsbc Global Res raised PepsiCo to a "hold" rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, PepsiCo has an average rating of "Hold" and a consensus target price 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.