Zurcher Kantonalbank Zurich Cantonalbank Purchases 11,226 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 2.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 570,680 shares of the company's stock after acquiring an additional 11,226 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in PepsiCo were worth $97,044,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Global Wealth Strategies & Associates grew its holdings in shares of PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company's stock valued at $27,000 after buying an additional 59 shares in the last quarter. Highline Wealth Partners LLC purchased a new stake in shares of PepsiCo in the third quarter worth approximately $28,000. POM Investment Strategies LLC boosted its holdings in shares of PepsiCo by 141.3% during 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 purchased a new position in PepsiCo during the second quarter valued at approximately $30,000. Finally, Mattson Financial Services LLC acquired a new position in PepsiCo in the 2nd quarter valued at approximately $34,000. Institutional investors and hedge funds own 73.07% of the company's stock.

PepsiCo Stock Performance

NASDAQ:PEP traded up $0.56 during trading hours on Thursday, hitting $162.72. 3,620,676 shares of the company traded hands, compared to its average volume of 5,488,934. 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 stock has a market capitalization of $223.25 billion, a price-to-earnings ratio of 24.00, a P/E/G ratio of 3.04 and a beta of 0.53. The firm has a 50-day moving average of $168.18 and a 200 day moving average of $170.60. PepsiCo, Inc. has a twelve month low of $155.85 and a twelve month high of $183.41.

PepsiCo (NASDAQ:PEP - Get Free Report) last released its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.01. The business 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 firm's revenue was down .6% on a year-over-year basis. During the same quarter last year, the company earned $2.25 earnings per share. On average, analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 6th will be issued a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend is Friday, December 6th. PepsiCo's dividend payout ratio (DPR) is presently 79.94%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PEP. Bank of America dropped their price target on shares of PepsiCo from $190.00 to $185.00 and set a "buy" rating on the stock in a research note on Monday, September 30th. JPMorgan Chase & Co. cut their price target on PepsiCo from $185.00 to $183.00 and set a "neutral" rating for the company in a research note on Wednesday, October 9th. Redburn Atlantic raised PepsiCo to a "strong sell" rating in a research note on Thursday, October 10th. Morgan Stanley cut 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. Finally, Hsbc Global Res upgraded shares of PepsiCo to a "hold" rating 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 issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $183.92.

PepsiCo 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.