Truepoint Inc. Purchases 536 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Truepoint Inc. lifted its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 34.7% during the third quarter, HoldingsChannel reports. The firm owned 2,081 shares of the company’s stock after buying an additional 536 shares during the quarter. Truepoint Inc.’s holdings in PepsiCo were worth $354,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PEP. Global Wealth Strategies & Associates raised 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 worth $27,000 after acquiring an additional 59 shares during the period. Highline Wealth Partners LLC acquired a new stake in shares of PepsiCo during the third quarter worth $28,000. POM Investment Strategies LLC increased its stake in PepsiCo by 141.3% in the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after buying an additional 106 shares during the last quarter. Summit Securities Group LLC acquired a new stake in PepsiCo in the 2nd quarter valued at $30,000. Finally, Mattson Financial Services LLC acquired a new stake in PepsiCo in the 2nd quarter valued at $34,000. 73.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on PEP. Barclays lowered their price objective on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a report on Thursday, October 10th. TD Cowen downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and reduced their target price for the stock from $190.00 to $183.00 in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a report on Wednesday, October 9th. Finally, Royal Bank of Canada cut their price objective on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. One research 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 data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $183.92.

PepsiCo Price Performance

Shares of NASDAQ:PEP opened at $162.00 on Friday. The firm has a 50 day moving average of $169.01 and a 200-day moving average of $170.94. The stock has a market capitalization of $222.26 billion, a PE ratio of 23.89, a PEG ratio of 2.99 and a beta of 0.53. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a 12 month low of $155.85 and a 12 month high of $183.41.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.30 by $0.01. The company 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 business’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.25 EPS. On average, equities research analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

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. This represents a $5.42 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date is Friday, December 6th. PepsiCo’s dividend payout ratio is 79.94%.

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.