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:PEPFree Report) 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:PEPGet Free Report) 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.

Get Our Latest Stock Report on PEP

PepsiCo Profile

(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.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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