PepsiCo, Inc. (NASDAQ:PEP) Shares Acquired by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. raised its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 31,310 shares of the company’s stock after buying an additional 814 shares during the period. Pekin Hardy Strauss Inc.’s holdings in PepsiCo were worth $5,324,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Global Wealth Strategies & Associates boosted its stake in PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after buying an additional 59 shares in the last quarter. Highline Wealth Partners LLC acquired a new position in shares of PepsiCo in the 3rd quarter worth approximately $28,000. POM Investment Strategies LLC raised its holdings in shares of PepsiCo by 141.3% in the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after purchasing an additional 106 shares in the last quarter. Summit Securities Group LLC acquired a new stake in PepsiCo during the second quarter valued at approximately $30,000. Finally, Mattson Financial Services LLC acquired a new position in PepsiCo in the second quarter worth approximately $34,000. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Stock Up 1.0 %

Shares of PepsiCo stock opened at $162.00 on Friday. The stock has a 50-day simple moving average of $169.01 and a 200-day simple moving average of $170.94. PepsiCo, Inc. has a 52-week low of $155.85 and a 52-week high of $183.41. The firm has a market cap of $222.26 billion, a price-to-earnings ratio of 23.89, a P/E/G ratio of 2.99 and a beta of 0.53. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, topping 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 company had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. During the same period in the previous year, the firm posted $2.25 earnings per share. The company’s revenue for the quarter was down .6% compared to the same quarter last year. On average, equities research analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 6th will be paid a dividend of $1.355 per share. The ex-dividend date is Friday, December 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.35%. PepsiCo’s dividend payout ratio (DPR) is presently 79.94%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft reduced their price objective on PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Royal Bank of Canada decreased their target price on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. Barclays reduced their price target on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Finally, Morgan Stanley downgraded shares of 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. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target 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.