Northwest & Ethical Investments L.P. lowered its position in shares of PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 15.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,069 shares of the company’s stock after selling 4,915 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in PepsiCo were worth $4,433,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Global Wealth Strategies & Associates boosted its stake in PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after acquiring an additional 59 shares during the last quarter. Highline Wealth Partners LLC purchased a new position in PepsiCo in the third quarter valued at approximately $28,000. POM Investment Strategies LLC grew its holdings in PepsiCo by 141.3% during the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after purchasing an additional 106 shares during the period. Summit Securities Group LLC purchased a new stake in PepsiCo in the second quarter worth $30,000. Finally, Rakuten Securities Inc. raised its stake in shares of PepsiCo by 93.2% in the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after buying an additional 96 shares during the period. Hedge funds and other institutional investors own 73.07% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on PEP. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Barclays reduced their target price on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. TD Cowen cut shares of PepsiCo from a “buy” rating to a “hold” rating and dropped their price target for the company from $190.00 to $183.00 in a research note on Thursday, October 10th. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Finally, Morgan Stanley cut shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price on the stock. in a report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $183.92.
PepsiCo Stock Performance
NASDAQ:PEP opened at $162.72 on Friday. The stock has a market cap of $223.25 billion, a P/E ratio of 24.00, a PEG ratio of 3.03 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. The business’s 50-day moving average price is $167.95 and its two-hundred day moving average price is $170.55. PepsiCo, Inc. has a twelve month low of $155.85 and a twelve month high of $183.41.
PepsiCo (NASDAQ:PEP – Get Free Report) last announced its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The business had revenue of $23.32 billion for the quarter, compared to the consensus estimate of $23.86 billion. During the same period last year, the firm posted $2.25 earnings per share. PepsiCo’s quarterly revenue was down .6% on a year-over-year basis. As a group, equities analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.
PepsiCo Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 6th will be given a $1.355 dividend. The ex-dividend date is Friday, December 6th. This represents a $5.42 annualized dividend and a yield of 3.33%. PepsiCo’s dividend payout ratio (DPR) is presently 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.
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