LPL Financial LLC Boosts Stake in PepsiCo, Inc. (NASDAQ:PEP)

LPL Financial LLC increased its position in PepsiCo, Inc. (NASDAQ:PEP) by 8.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,844,337 shares of the company’s stock after purchasing an additional 142,191 shares during the period. LPL Financial LLC owned 0.13% of PepsiCo worth $313,629,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in PEP. Bank of Nova Scotia Trust Co. increased its position in PepsiCo by 19.4% during the 1st quarter. Bank of Nova Scotia Trust Co. now owns 7,864 shares of the company’s stock worth $1,376,000 after purchasing an additional 1,278 shares during the period. Steel Grove Capital Advisors LLC grew its holdings in shares of PepsiCo by 18.9% in the 1st quarter. Steel Grove Capital Advisors LLC now owns 2,944 shares of the company’s stock worth $515,000 after acquiring an additional 467 shares during the period. Kestra Advisory Services LLC grew its holdings in shares of PepsiCo by 9.2% in the 1st quarter. Kestra Advisory Services LLC now owns 177,893 shares of the company’s stock worth $31,148,000 after acquiring an additional 15,024 shares during the period. Fairview Capital Investment Management LLC grew its holdings in shares of PepsiCo by 3.8% in the 1st quarter. Fairview Capital Investment Management LLC now owns 3,515 shares of the company’s stock worth $615,000 after acquiring an additional 128 shares during the period. Finally, Talisman Wealth Advisors LLC grew its holdings in shares of PepsiCo by 4.6% in the 1st quarter. Talisman Wealth Advisors LLC now owns 1,557 shares of the company’s stock worth $272,000 after acquiring an additional 68 shares during the period. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Price Performance

PEP opened at $160.29 on Friday. The business’s 50-day moving average is $169.32 and its two-hundred day moving average is $171.08. 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. The firm has a market capitalization of $219.92 billion, a PE ratio of 23.64, a price-to-earnings-growth ratio of 2.92 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, topping the consensus estimate of $2.30 by $0.01. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The firm had revenue of $23.32 billion during the quarter, compared to analysts’ expectations of $23.86 billion. During the same period in the previous year, the business earned $2.25 earnings per share. The firm’s revenue for the quarter was down .6% on a year-over-year basis. Research analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 6th will be paid a dividend of $1.355 per share. The ex-dividend date is Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.38%. PepsiCo’s dividend payout ratio is presently 79.94%.

Wall Street Analyst Weigh In

PEP has been the topic of a number of recent research reports. Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price on the stock. in a research note on Friday, September 20th. 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 research note on Monday, September 30th. Barclays reduced their price target on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, PepsiCo has a consensus rating of “Hold” and an average 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.