Geode Capital Management LLC Buys 543,558 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Geode Capital Management LLC lifted its position in PepsiCo, Inc. (NASDAQ:PEP) by 1.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 30,497,268 shares of the company’s stock after purchasing an additional 543,558 shares during the period. Geode Capital Management LLC owned 2.22% of PepsiCo worth $5,170,529,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Empowered Funds LLC raised its stake in PepsiCo by 9.2% in the third quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock worth $16,968,000 after buying an additional 8,406 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of PepsiCo by 11.0% in the 3rd quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock worth $59,549,000 after acquiring an additional 34,633 shares in the last quarter. IHT Wealth Management LLC lifted its stake in shares of PepsiCo by 19.3% during the 3rd quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock worth $5,493,000 after purchasing an additional 5,220 shares during the last quarter. Meridian Wealth Management LLC purchased a new position in PepsiCo in the third quarter valued at about $9,589,000. Finally, Kestra Investment Management LLC bought a new position in PepsiCo in the third quarter worth about $527,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Stock Up 1.1 %

NASDAQ:PEP opened at $159.47 on Tuesday. The firm has a market capitalization of $218.79 billion, a P/E ratio of 23.52, a PEG ratio of 2.94 and a beta of 0.52. The company’s fifty day moving average price is $166.62 and its 200-day moving average price is $169.42. PepsiCo, Inc. has a 1-year low of $155.85 and a 1-year high of $183.41. 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 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 return on equity of 57.32% and a net margin of 10.18%. The business had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. The company’s revenue was down .6% on a year-over-year basis. During the same quarter last year, the business posted $2.25 EPS. As a group, equities research analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 6th will be issued a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend is Friday, December 6th. PepsiCo’s dividend payout ratio (DPR) is 79.94%.

Wall Street Analyst Weigh In

PEP has been the topic of a number of analyst reports. Royal Bank of Canada cut their price objective on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. JPMorgan Chase & Co. cut their price target on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Barclays decreased their price objective on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Finally, Hsbc Global Res raised PepsiCo to a “hold” rating in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, PepsiCo has an average rating of “Hold” and a consensus 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.