BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 12.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,141,904 shares of the company's stock after acquiring an additional 129,358 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned about 0.08% of PepsiCo worth $194,180,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Cornerstone Advisors LLC raised its holdings in shares of PepsiCo by 4.5% during the third quarter. Cornerstone Advisors LLC now owns 76,200 shares of the company's stock worth $12,958,000 after acquiring an additional 3,300 shares in the last quarter. Citizens Financial Group Inc. RI raised its holdings in shares of PepsiCo by 7.6% during the third quarter. Citizens Financial Group Inc. RI now owns 230,480 shares of the company's stock worth $39,193,000 after acquiring an additional 16,284 shares in the last quarter. Moran Wealth Management LLC raised its holdings in shares of PepsiCo by 0.4% during the third quarter. Moran Wealth Management LLC now owns 65,506 shares of the company's stock worth $11,139,000 after acquiring an additional 253 shares in the last quarter. Moors & Cabot Inc. raised its holdings in PepsiCo by 0.6% during the third quarter. Moors & Cabot Inc. now owns 107,916 shares of the company's stock valued at $18,351,000 after buying an additional 635 shares in the last quarter. Finally, Darwin Wealth Management LLC bought a new position in PepsiCo during the third quarter valued at about $369,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research firms have weighed in on PEP. Redburn Atlantic upgraded PepsiCo to a "strong sell" rating in a report on Thursday, October 10th. Royal Bank of Canada cut their target price on PepsiCo from $177.00 to $176.00 and set a "sector perform" rating on the stock in a report on Friday, October 4th. StockNews.com upgraded PepsiCo from a "hold" rating to a "buy" rating in a report on Tuesday, November 5th. Hsbc Global Res raised PepsiCo to a "hold" rating in a research report on Thursday, October 10th. Finally, Barclays dropped their price objective on PepsiCo from $186.00 to $183.00 and set an "overweight" rating on the stock in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $183.92.
Check Out Our Latest Report on PepsiCo
PepsiCo Trading Up 1.3 %
Shares of PEP opened at $158.74 on Thursday. PepsiCo, Inc. has a 12-month low of $155.85 and a 12-month high of $183.41. 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 $217.79 billion, a price-to-earnings ratio of 23.41, a P/E/G ratio of 2.92 and a beta of 0.53. The stock's 50-day moving average price is $169.66 and its 200 day moving average price 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 (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.01. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The firm had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. During the same period in the previous year, the company posted $2.25 earnings per share. The company's quarterly revenue was down .6% compared to the same quarter last year. As a group, research analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current 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 paid a $1.355 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.41%. PepsiCo's dividend payout ratio is currently 79.94%.
PepsiCo Profile
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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.
Further Reading
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