EP Wealth Advisors LLC Buys 20,840 Shares of PepsiCo, Inc. (NASDAQ:PEP)

EP Wealth Advisors LLC raised its stake in PepsiCo, Inc. (NASDAQ:PEP) by 6.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 352,809 shares of the company’s stock after purchasing an additional 20,840 shares during the period. EP Wealth Advisors LLC’s holdings in PepsiCo were worth $59,995,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of PEP. Global Wealth Strategies & Associates increased its holdings in shares of 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 acquiring an additional 59 shares in the last quarter. Highline Wealth Partners LLC acquired a new position in PepsiCo during the 3rd quarter valued at approximately $28,000. POM Investment Strategies LLC lifted its stake in shares of PepsiCo by 141.3% during the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after buying an additional 106 shares during the period. Summit Securities Group LLC purchased a new stake in shares of PepsiCo during the second quarter valued at $30,000. Finally, Mattson Financial Services LLC acquired a new position in shares of PepsiCo in the 2nd quarter valued at $34,000. 73.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PEP has been the topic of several research analyst reports. Royal Bank of Canada dropped their price target on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. Bank of America decreased their price objective on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a report on Wednesday, October 9th. TD Cowen cut PepsiCo from a “buy” rating to a “hold” rating and decreased their price objective for the company from $190.00 to $183.00 in a report on Thursday, October 10th. Finally, Barclays reduced their price target on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $183.92.

PepsiCo Price Performance

Shares of NASDAQ PEP opened at $157.79 on Friday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The firm has a market cap of $216.49 billion, a PE ratio of 23.27, a PEG ratio of 2.98 and a beta of 0.52. PepsiCo, Inc. has a one year low of $155.85 and a one year high of $183.41. The firm has a fifty day moving average of $166.83 and a 200 day moving average of $169.72.

PepsiCo (NASDAQ:PEP) last issued its quarterly 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. The firm had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. PepsiCo’s quarterly revenue was down .6% compared to the same quarter last year. During the same period last year, the company posted $2.25 EPS. As a group, research analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Friday, December 6th. This represents a $5.42 annualized dividend and a yield of 3.43%. PepsiCo’s dividend payout ratio (DPR) is presently 79.94%.

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.