Portfolio Design Labs LLC Invests $3.09 Million in PepsiCo, Inc. (NASDAQ:PEP)

Portfolio Design Labs LLC bought a new stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 18,156 shares of the company's stock, valued at approximately $3,087,000.

A number of other institutional investors and hedge funds have also bought and sold shares of PEP. First Horizon Advisors Inc. grew its stake in PepsiCo by 0.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 62,925 shares of the company's stock worth $10,701,000 after buying an additional 444 shares during the last quarter. Hilton Capital Management LLC grew its stake in PepsiCo by 1.4% during the 3rd quarter. Hilton Capital Management LLC now owns 61,229 shares of the company's stock valued at $10,412,000 after purchasing an additional 816 shares during the last quarter. NS Partners Ltd grew its stake in PepsiCo by 1.0% during the 3rd quarter. NS Partners Ltd now owns 141,781 shares of the company's stock valued at $24,110,000 after purchasing an additional 1,366 shares during the last quarter. Prospera Private Wealth LLC purchased a new stake in PepsiCo during the 3rd quarter valued at about $4,838,000. Finally, Avior Wealth Management LLC grew its stake in PepsiCo by 4.0% during the 3rd quarter. Avior Wealth Management LLC now owns 18,313 shares of the company's stock valued at $3,114,000 after purchasing an additional 703 shares during the last quarter. 73.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PEP shares. JPMorgan Chase & Co. decreased their price objective on PepsiCo from $185.00 to $183.00 and set a "neutral" rating for the company in a report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft decreased their price objective on PepsiCo from $180.00 to $179.00 and set a "hold" rating for the company in a report on Wednesday, October 9th. Morgan Stanley cut PepsiCo from an "overweight" rating to an "equal weight" rating and set a $185.00 price objective for the company. in a report on Friday, September 20th. Royal Bank of Canada reduced their price target on PepsiCo from $177.00 to $176.00 and set a "sector perform" rating for the company in a report on Friday, October 4th. Finally, TD Cowen cut PepsiCo from a "buy" rating to a "hold" rating and reduced their price target for the stock from $190.00 to $183.00 in a report on Thursday, October 10th. One 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's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $183.92.

PepsiCo Stock Performance

PEP traded up $2.02 during trading on Wednesday, reaching $158.74. The company's stock had a trading volume of 4,983,495 shares, compared to its average volume of 5,483,438. PepsiCo, Inc. has a 52-week low of $155.85 and a 52-week high of $183.41. The company's fifty day moving average price is $170.00 and its 200-day moving average price is $171.24. The company has a market capitalization of $217.79 billion, a price-to-earnings ratio of 23.36, a price-to-earnings-growth ratio of 2.96 and a beta of 0.53. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its quarterly earnings results 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. 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 the consensus estimate of $23.86 billion. During the same period last year, the firm earned $2.25 EPS. The company's revenue for the quarter was down .6% on a year-over-year basis. On average, equities analysts forecast 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. Investors of record on Friday, December 6th will be given a dividend of $1.355 per share. The ex-dividend date 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%.

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.