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

Iron Horse Wealth Management LLC raised its stake in PepsiCo, Inc. (NASDAQ:PEP) by 28.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 701 shares of the company’s stock after purchasing an additional 156 shares during the period. Iron Horse Wealth Management LLC’s holdings in PepsiCo were worth $119,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of PEP. Legal & General Group Plc raised its position in shares of PepsiCo by 7.2% in the 2nd quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock valued at $2,234,400,000 after purchasing an additional 905,468 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in PepsiCo by 7.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company’s stock worth $1,673,632,000 after acquiring an additional 700,092 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in PepsiCo by 8.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock valued at $1,221,089,000 after purchasing an additional 561,465 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of PepsiCo by 1.1% in the second quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock valued at $846,030,000 after purchasing an additional 57,322 shares during the period. Finally, Flossbach Von Storch AG lifted its holdings in shares of PepsiCo by 67.2% during the first quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock worth $798,047,000 after purchasing an additional 1,832,385 shares during the period. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. 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. TD Cowen cut shares of PepsiCo from a “buy” rating to a “hold” rating and cut their price objective for the company from $190.00 to $183.00 in a report on Thursday, October 10th. Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target for the company. in a research note on Friday, September 20th. DZ Bank downgraded PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price for the company. in a research note on Friday, July 19th. Finally, Jefferies Financial Group decreased their price objective on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $183.92.

PepsiCo Stock Down 0.7 %

PEP traded down $1.24 on Wednesday, hitting $173.13. 947,648 shares of the company were exchanged, compared to its average volume of 5,466,450. The firm has a 50-day moving average price of $173.90 and a two-hundred day moving average price of $172.23. 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 twelve month low of $158.03 and a twelve month high of $183.41. The company has a market cap of $237.53 billion, a price-to-earnings ratio of 25.51, a price-to-earnings-growth ratio of 3.26 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last issued 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. 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 analysts’ expectations of $23.86 billion. During the same quarter last year, the company earned $2.25 earnings per share. The firm’s revenue was down .6% compared to the same quarter last year. On average, equities analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 6th were paid a $1.355 dividend. The ex-dividend date was Friday, September 6th. This represents a $5.42 annualized dividend and a yield of 3.13%. PepsiCo’s dividend payout ratio is presently 79.94%.

PepsiCo Company 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.