NovaPoint Capital LLC Purchases 369 Shares of PepsiCo, Inc. (NASDAQ:PEP)

NovaPoint Capital LLC boosted its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 1.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 23,588 shares of the company’s stock after purchasing an additional 369 shares during the quarter. PepsiCo makes up 1.2% of NovaPoint Capital LLC’s portfolio, making the stock its 28th largest position. NovaPoint Capital LLC’s holdings in PepsiCo were worth $4,011,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Capital Advisors Ltd. LLC lifted its holdings in PepsiCo by 3.6% in the 1st quarter. Capital Advisors Ltd. LLC now owns 3,961 shares of the company’s stock worth $693,000 after purchasing an additional 139 shares in the last quarter. Norden Group LLC boosted its position in shares of PepsiCo by 3,345.6% during the first quarter. Norden Group LLC now owns 179,377 shares of the company’s stock worth $31,391,000 after acquiring an additional 174,171 shares during the last quarter. Meyer Handelman Co. grew its stake in PepsiCo by 3.9% during the first quarter. Meyer Handelman Co. now owns 253,769 shares of the company’s stock valued at $44,412,000 after acquiring an additional 9,465 shares in the last quarter. Global Assets Advisory LLC bought a new stake in PepsiCo in the 1st quarter valued at $28,366,000. Finally, M&G Plc boosted its holdings in shares of PepsiCo by 3.6% during the 2nd quarter. M&G Plc now owns 426,269 shares of the company’s stock valued at $70,334,000 after purchasing an additional 14,724 shares during the last quarter. 73.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Bank of America reduced their target price on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. DZ Bank lowered shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price for the company. in a report on Friday, July 19th. Barclays decreased their price target on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a report on Thursday, October 10th. Finally, StockNews.com downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Thursday. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $183.92.

PepsiCo Trading Up 0.2 %

PEP opened at $175.06 on Friday. PepsiCo, Inc. has a one year low of $158.03 and a one year high of $183.41. 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 stock has a market cap of $240.18 billion, a price-to-earnings ratio of 25.82, a P/E/G ratio of 3.28 and a beta of 0.53. The stock’s 50 day moving average price is $173.78 and its 200-day moving average price is $172.13.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. The business had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The business’s revenue was down .6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.25 earnings per share. On average, equities analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Dividend Announcement

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