World Investment Advisors LLC Grows Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

World Investment Advisors LLC lifted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 14.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 70,606 shares of the company's stock after purchasing an additional 8,991 shares during the quarter. World Investment Advisors LLC's holdings in PepsiCo were worth $12,007,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. State Street Corp lifted its stake in shares of PepsiCo by 5.1% in the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company's stock valued at $9,738,429,000 after acquiring an additional 2,775,679 shares during the last quarter. Geode Capital Management LLC grew its holdings in PepsiCo by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company's stock worth $5,170,529,000 after acquiring an additional 543,558 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of PepsiCo by 5.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company's stock valued at $3,632,413,000 after acquiring an additional 1,125,059 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of PepsiCo by 7.2% during the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company's stock worth $2,234,400,000 after purchasing an additional 905,468 shares during the period. Finally, Wellington Management Group LLP grew its stake in shares of PepsiCo by 2.7% in the third quarter. Wellington Management Group LLP now owns 12,098,551 shares of the company's stock worth $2,057,359,000 after purchasing an additional 313,468 shares during the last quarter. Institutional investors own 73.07% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on PEP shares. TD Cowen lowered PepsiCo from a "buy" rating to a "hold" rating and lowered their target price for the stock from $190.00 to $183.00 in a research report on Thursday, October 10th. Barclays decreased their target price on PepsiCo from $186.00 to $183.00 and set an "overweight" rating for the company in a research note on Thursday, October 10th. Hsbc Global Res raised shares of PepsiCo to a "hold" rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. cut their price objective on shares of PepsiCo from $185.00 to $183.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 9th. Finally, Royal Bank of Canada decreased their target price on PepsiCo from $177.00 to $176.00 and set a "sector perform" rating for the company in a research report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $184.31.

PepsiCo Price Performance

Shares of NASDAQ PEP traded up $2.13 during midday trading on Thursday, hitting $158.90. 6,828,325 shares of the company's stock were exchanged, compared to its average volume of 5,514,660. The business's fifty day moving average price is $166.14 and its two-hundred day moving average price is $169.20. 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 company has a market cap of $218.01 billion, a price-to-earnings ratio of 23.47, a PEG ratio of 2.94 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 announced its quarterly earnings data 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 firm 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%. The business's quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the business posted $2.25 EPS. As a group, research analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Announces Dividend

The business also recently declared 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 yield of 3.41%. PepsiCo's payout ratio is 79.94%.

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.