Code Waechter LLC Buys Shares of 2,635 PepsiCo, Inc. (NASDAQ:PEP)

Code Waechter LLC acquired a new stake in shares of PepsiCo, Inc. (NASDAQ:PEP) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 2,635 shares of the company’s stock, valued at approximately $448,000.

A number of other hedge funds also recently made changes to their positions in the stock. Global Wealth Strategies & Associates boosted its stake in shares of PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares in the last quarter. Valued Wealth Advisors LLC lifted its stake in shares of PepsiCo by 77.5% in the 1st quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock valued at $28,000 after acquiring an additional 69 shares during the last quarter. POM Investment Strategies LLC grew its position in PepsiCo by 141.3% during the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after acquiring an additional 106 shares during the last quarter. Summit Securities Group LLC purchased a new position in PepsiCo in the 2nd quarter worth approximately $30,000. Finally, Fortis Group Advisors LLC grew its holdings in shares of PepsiCo by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock worth $33,000 after purchasing an additional 97 shares during the last quarter. 73.07% of the stock is owned by institutional investors.

PepsiCo Price Performance

Shares of PepsiCo stock traded up $1.82 during trading on Friday, reaching $174.81. 4,720,299 shares of the stock traded hands, compared to its average volume of 5,510,471. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.64. The company has a market capitalization of $239.84 billion, a price-to-earnings ratio of 25.78, a P/E/G ratio of 3.11 and a beta of 0.53. PepsiCo, Inc. has a 52-week low of $157.43 and a 52-week high of $183.41. The business has a fifty day simple moving average of $173.52 and a two-hundred day simple moving average of $172.08.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $23.86 billion. During the same quarter in the previous year, the business posted $2.25 earnings per share. PepsiCo’s quarterly revenue was down .6% on a year-over-year basis. Sell-side analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 6th were given a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date was Friday, September 6th. PepsiCo’s dividend payout ratio (DPR) is 79.94%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company cut their price objective on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Bank of America reduced their price target on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. BNP Paribas initiated coverage on PepsiCo in a report on Monday, June 24th. They issued a “neutral” rating and a $174.00 price objective for the company. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research note on Thursday. Finally, TD Cowen cut shares of PepsiCo from a “buy” rating to a “hold” rating and lowered their price target for the company from $190.00 to $183.00 in a research report on Thursday. One investment 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price 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.