William Allan Corp Grows Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

William Allan Corp lifted its position in PepsiCo, Inc. (NASDAQ:PEP) by 4.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,454 shares of the company’s stock after purchasing an additional 563 shares during the quarter. William Allan Corp’s holdings in PepsiCo were worth $2,288,000 at the end of the most recent quarter.

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

PepsiCo Stock Performance

Shares of PEP stock opened at $162.72 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The company’s fifty day moving average price is $167.95 and its 200-day moving average price is $170.55. The stock has a market cap of $223.25 billion, a PE ratio of 24.00, a price-to-earnings-growth ratio of 3.03 and a beta of 0.53. PepsiCo, Inc. has a 12 month low of $155.85 and a 12 month high of $183.41.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping 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 analysts’ expectations of $23.86 billion. During the same quarter in the prior year, the company earned $2.25 earnings per share. The business’s revenue was down .6% compared to the same quarter last year. On average, equities analysts expect 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. Shareholders of record on Friday, December 6th will be paid a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend is Friday, December 6th. PepsiCo’s payout ratio is 79.94%.

Analysts Set New Price Targets

PEP has been the topic of several analyst reports. Bank of America decreased their target price on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Morgan Stanley cut PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price on the stock. in a research note on Friday, September 20th. TD Cowen lowered 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, October 10th. Finally, Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $183.92.

About PepsiCo

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.