PepsiCo, Inc. (NASDAQ:PEP) Shares Acquired by Sunpointe LLC

Sunpointe LLC grew its position in PepsiCo, Inc. (NASDAQ:PEP) by 33.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,721 shares of the company’s stock after acquiring an additional 435 shares during the period. Sunpointe LLC’s holdings in PepsiCo were worth $293,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of PEP. Flossbach Von Storch AG increased its stake in shares of PepsiCo by 67.2% during the first quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock worth $798,047,000 after purchasing an additional 1,832,385 shares in the last quarter. Swedbank AB grew its stake in PepsiCo by 211.4% during the 3rd quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock valued at $398,847,000 after acquiring an additional 1,592,343 shares in the last quarter. PineStone Asset Management Inc. grew its stake in PepsiCo by 125.2% during the 2nd quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock valued at $452,003,000 after acquiring an additional 1,523,631 shares in the last quarter. Van ECK Associates Corp grew its stake in PepsiCo by 429.3% during the 1st quarter. Van ECK Associates Corp now owns 1,454,793 shares of the company’s stock valued at $254,603,000 after acquiring an additional 1,179,922 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in PepsiCo by 7.2% during the 2nd quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock valued at $2,234,400,000 after acquiring an additional 905,468 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Down 0.7 %

PepsiCo stock traded down $1.19 during mid-day trading on Wednesday, reaching $174.71. 207,382 shares of the company’s stock were exchanged, compared to its average volume of 5,480,546. The company has a market cap of $240.19 billion, a P/E ratio of 25.53, a P/E/G ratio of 3.11 and a beta of 0.53. PepsiCo, Inc. has a twelve month low of $158.03 and a twelve month high of $183.41. The company has a quick ratio of 0.64, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The company has a fifty day moving average of $173.63 and a 200-day moving average of $172.08.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, topping 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 company had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. During the same period in the prior year, the business earned $2.25 EPS. The firm’s quarterly revenue was down .6% on a year-over-year basis. Sell-side analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 6th were given a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend was Friday, September 6th. PepsiCo’s dividend payout ratio is presently 78.66%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PEP shares. DZ Bank cut shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective for the company. in a research note on Friday, July 19th. Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Wells Fargo & Company dropped their price target on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Bank of America dropped their price target 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. Finally, Jefferies Financial Group dropped their price target on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. One research 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. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $183.92.

About PepsiCo

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.