PepsiCo, Inc. (NASDAQ:PEP) Shares Purchased by Eagle Asset Management Inc.

Eagle Asset Management Inc. raised its stake in PepsiCo, Inc. (NASDAQ:PEP) by 16.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 684,395 shares of the company’s stock after buying an additional 96,365 shares during the quarter. Eagle Asset Management Inc.’s holdings in PepsiCo were worth $113,001,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Bank of Nova Scotia Trust Co. increased its position in PepsiCo by 19.4% during the 1st quarter. Bank of Nova Scotia Trust Co. now owns 7,864 shares of the company’s stock worth $1,376,000 after purchasing an additional 1,278 shares in the last quarter. Steel Grove Capital Advisors LLC grew its stake in PepsiCo by 18.9% in the 1st quarter. Steel Grove Capital Advisors LLC now owns 2,944 shares of the company’s stock worth $515,000 after acquiring an additional 467 shares during the period. Kestra Advisory Services LLC lifted its stake in shares of PepsiCo by 9.2% during the 1st quarter. Kestra Advisory Services LLC now owns 177,893 shares of the company’s stock worth $31,148,000 after purchasing an additional 15,024 shares during the period. Fairview Capital Investment Management LLC grew its position in shares of PepsiCo by 3.8% in the first quarter. Fairview Capital Investment Management LLC now owns 3,515 shares of the company’s stock valued at $615,000 after purchasing an additional 128 shares during the period. Finally, Talisman Wealth Advisors LLC lifted its position in PepsiCo by 4.6% during the first quarter. Talisman Wealth Advisors LLC now owns 1,557 shares of the company’s stock worth $272,000 after buying an additional 68 shares during the period. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Trading Up 1.0 %

Shares of PepsiCo stock opened at $160.29 on Friday. 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 has a fifty day simple moving average of $169.32 and a 200-day simple moving average of $171.08. PepsiCo, Inc. has a fifty-two week low of $155.85 and a fifty-two week high of $183.41. The firm has a market cap of $219.92 billion, a price-to-earnings ratio of 23.64, a price-to-earnings-growth ratio of 2.92 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 (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The business had revenue of $23.32 billion for the quarter, compared to analysts’ expectations of $23.86 billion. During the same period in the previous year, the firm posted $2.25 EPS. The company’s quarterly revenue was down .6% on a year-over-year basis. On average, equities analysts forecast 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 $1.355 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $5.42 annualized dividend and a yield of 3.38%. PepsiCo’s dividend payout ratio is presently 79.94%.

Analysts Set New Price Targets

Several research analysts recently weighed in on PEP shares. Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price on the stock. in a research report on Friday, September 20th. TD Cowen downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $190.00 to $183.00 in a research note on Thursday, October 10th. Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Bank of America decreased their price target on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Finally, Barclays reduced their price objective on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, PepsiCo has a consensus rating of “Hold” and an average target price of $183.92.

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.