Quantinno Capital Management LP Purchases 24,589 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Quantinno Capital Management LP lifted its position in PepsiCo, Inc. (NASDAQ:PEP) by 34.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 96,283 shares of the company’s stock after acquiring an additional 24,589 shares during the period. Quantinno Capital Management LP’s holdings in PepsiCo were worth $16,373,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in PEP. BDF Gestion purchased a new stake in PepsiCo during the second quarter valued at approximately $2,643,000. CCM Investment Advisers LLC increased its stake in shares of PepsiCo by 3.8% in the second quarter. CCM Investment Advisers LLC now owns 67,252 shares of the company’s stock worth $11,092,000 after purchasing an additional 2,445 shares in the last quarter. Bath Savings Trust Co boosted its position in shares of PepsiCo by 1.8% during the second quarter. Bath Savings Trust Co now owns 74,172 shares of the company’s stock worth $12,233,000 after acquiring an additional 1,285 shares during the last quarter. Norway Savings Bank boosted its position in shares of PepsiCo by 6.1% during the second quarter. Norway Savings Bank now owns 12,247 shares of the company’s stock worth $2,020,000 after acquiring an additional 701 shares during the last quarter. Finally, Capital Investment Advisors LLC boosted its position in shares of PepsiCo by 2.8% during the second quarter. Capital Investment Advisors LLC now owns 39,088 shares of the company’s stock worth $6,447,000 after acquiring an additional 1,059 shares during the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on PEP. JPMorgan Chase & Co. dropped their price objective on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Barclays dropped their price target on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Morgan Stanley lowered shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective for the company. in a report on Friday, September 20th. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Finally, Royal Bank of Canada reduced their price target 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. One research 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’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $183.92.

PepsiCo Stock Down 0.9 %

NASDAQ:PEP opened at $160.18 on Thursday. The company has a market cap of $219.77 billion, a PE ratio of 23.63, a P/E/G ratio of 3.01 and a beta of 0.52. PepsiCo, Inc. has a twelve month low of $155.85 and a twelve month high of $183.41. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The company’s 50 day moving average is $167.26 and its two-hundred day moving average is $169.94.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.30 by $0.01. The business had revenue of $23.32 billion for the quarter, compared to the consensus estimate of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.25 EPS. 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 will be paid on Monday, January 6th. Stockholders of record on Friday, December 6th will be issued a $1.355 dividend. This represents a $5.42 annualized dividend and a dividend yield of 3.38%. The ex-dividend date of this dividend is Friday, December 6th. PepsiCo’s dividend payout ratio (DPR) is currently 79.94%.

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.