Exchange Traded Concepts LLC Has $18.91 Million Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Exchange Traded Concepts LLC increased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 100.7% during the 3rd quarter, Holdings Channel reports. The fund owned 111,205 shares of the company’s stock after buying an additional 55,805 shares during the quarter. Exchange Traded Concepts LLC’s holdings in PepsiCo were worth $18,910,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Compton Wealth Advisory Group LLC increased its holdings in PepsiCo by 0.8% during the 3rd quarter. Compton Wealth Advisory Group LLC now owns 12,024 shares of the company’s stock worth $2,045,000 after purchasing an additional 100 shares in the last quarter. Carnegie Investment Counsel lifted its stake in PepsiCo by 1.9% in the 3rd quarter. Carnegie Investment Counsel now owns 179,423 shares of the company’s stock valued at $30,511,000 after acquiring an additional 3,419 shares in the last quarter. Cardinal Capital Management Inc. acquired a new position in PepsiCo during the 3rd quarter worth approximately $15,622,000. Retirement Planning Group LLC bought a new position in PepsiCo in the third quarter valued at $749,000. Finally, City State Bank lifted its position in PepsiCo by 13.2% during the 3rd quarter. City State Bank now owns 2,140 shares of the company’s stock worth $364,000 after buying an additional 250 shares in the last quarter. 73.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Jefferies Financial Group lowered their price target on PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. DZ Bank downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective for the company. in a research report on Friday, July 19th. TD Cowen lowered PepsiCo from a “buy” rating to a “hold” rating and dropped their price objective for the company from $190.00 to $183.00 in a research note on Thursday. BNP Paribas started coverage on shares of PepsiCo in a research note on Monday, June 24th. They set a “neutral” rating and a $174.00 target price for the company. Finally, Wells Fargo & Company decreased their price target on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $183.92.

PepsiCo Stock Up 1.1 %

Shares of NASDAQ PEP opened at $174.81 on Friday. PepsiCo, Inc. has a one year low of $157.43 and a one year high of $183.41. The business’s fifty day moving average price is $173.52 and its 200-day moving average price is $172.08. The stock has a market capitalization of $240.33 billion, a PE ratio of 25.37, a P/E/G ratio of 3.11 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 0.64.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $23.86 billion. During the same period in the previous year, the business earned $2.25 EPS. PepsiCo’s revenue was down .6% compared to the same quarter last year. On average, equities research analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 6th were issued a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.10%. The ex-dividend date was Friday, September 6th. PepsiCo’s payout ratio is 78.66%.

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.