Concentric Wealth Management LLC Boosts Stake in PepsiCo, Inc. (NASDAQ:PEP)

Concentric Wealth Management LLC boosted its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 0.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,212 shares of the company’s stock after buying an additional 164 shares during the period. PepsiCo makes up 1.5% of Concentric Wealth Management LLC’s investment portfolio, making the stock its 23rd biggest holding. Concentric Wealth Management LLC’s holdings in PepsiCo were worth $5,988,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Empowered Funds LLC boosted its stake in PepsiCo by 9.2% during the third quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock worth $16,968,000 after acquiring an additional 8,406 shares in the last quarter. Meridian Wealth Management LLC purchased a new stake in shares of PepsiCo in the 3rd quarter worth $9,589,000. M&G Plc raised its stake in PepsiCo by 3.6% during the 2nd quarter. M&G Plc now owns 426,269 shares of the company’s stock worth $70,334,000 after acquiring an additional 14,724 shares during the period. Pinnacle Financial Partners Inc boosted its holdings in PepsiCo by 3.5% in the 3rd quarter. Pinnacle Financial Partners Inc now owns 135,331 shares of the company’s stock worth $23,013,000 after buying an additional 4,547 shares during the period. Finally, Fiduciary Family Office LLC lifted its holdings in PepsiCo by 119.6% in the 3rd quarter. Fiduciary Family Office LLC now owns 6,843 shares of the company’s stock worth $1,164,000 after purchasing an additional 3,727 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. 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. Royal Bank of Canada lowered their price target on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. TD Cowen downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $190.00 to $183.00 in a research note on Thursday, October 10th. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, PepsiCo has a consensus rating of “Hold” and a consensus target price of $183.92.

PepsiCo Trading Up 1.0 %

Shares of PepsiCo stock opened at $162.00 on Monday. PepsiCo, Inc. has a fifty-two week low of $155.85 and a fifty-two week high of $183.41. The business’s fifty day moving average is $169.01 and its two-hundred day moving average is $170.89. The firm has a market cap of $222.26 billion, a PE ratio of 23.89, a P/E/G ratio of 3.02 and a beta of 0.53. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96.

PepsiCo (NASDAQ:PEP) last posted its quarterly 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. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The firm had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. During the same quarter last year, the firm posted $2.25 earnings per share. PepsiCo’s revenue for the quarter was down .6% compared to the same quarter last year. Analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current 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 issued a $1.355 dividend. This represents a $5.42 annualized dividend and a dividend yield of 3.35%. The ex-dividend date is Friday, December 6th. PepsiCo’s dividend payout ratio (DPR) 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.