Financial Counselors Inc. Raises Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Financial Counselors Inc. lifted its stake in PepsiCo, Inc. (NASDAQ:PEP) by 2.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 364,673 shares of the company’s stock after purchasing an additional 9,300 shares during the quarter. PepsiCo comprises about 0.9% of Financial Counselors Inc.’s portfolio, making the stock its 27th largest holding. Financial Counselors Inc.’s holdings in PepsiCo were worth $62,013,000 as of its most recent filing with the Securities & Exchange Commission.

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

PepsiCo Stock Up 0.3 %

PEP stock opened at $162.72 on Thursday. The stock has a market capitalization of $223.25 billion, a P/E ratio of 24.00, a P/E/G ratio of 3.04 and a beta of 0.53. PepsiCo, Inc. has a 52 week low of $155.85 and a 52 week high of $183.41. The firm has a 50-day simple moving average of $168.18 and a 200-day simple moving average of $170.60. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, October 8th. The company reported $2.31 EPS 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 analysts’ expectations of $23.86 billion. During the same quarter in the prior year, the firm earned $2.25 earnings per share. The business’s revenue was down .6% compared to the same quarter last year. Equities analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The firm 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 $1.355 dividend. This represents a $5.42 annualized dividend and a dividend yield of 3.33%. The ex-dividend date is Friday, December 6th. PepsiCo’s dividend payout ratio is currently 79.94%.

Analyst Ratings Changes

Several equities research analysts have commented on PEP shares. JPMorgan Chase & Co. lowered 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. Royal Bank of Canada lowered their target price 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. Morgan Stanley cut PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target for the company. in a research report on Friday, September 20th. Barclays lowered their price objective on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Finally, TD Cowen lowered shares of PepsiCo from a “buy” rating to a “hold” rating and cut their target price for the company from $190.00 to $183.00 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 issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average 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.