Hilton Capital Management LLC Grows Position in PepsiCo, Inc. (NASDAQ:PEP)

Hilton Capital Management LLC lifted its stake in PepsiCo, Inc. (NASDAQ:PEP) by 1.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 61,229 shares of the company’s stock after purchasing an additional 816 shares during the quarter. Hilton Capital Management LLC’s holdings in PepsiCo were worth $10,412,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. International Assets Investment Management LLC increased its stake in PepsiCo by 17,113.0% in the 3rd quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock worth $547,626,000 after acquiring an additional 3,201,676 shares during the last quarter. Swedbank AB grew its holdings in shares of PepsiCo by 211.4% in the third quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock valued at $398,847,000 after purchasing an additional 1,592,343 shares in the last quarter. PineStone Asset Management Inc. increased its position in PepsiCo by 125.2% in the second quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock worth $452,003,000 after purchasing an additional 1,523,631 shares during the last quarter. Legal & General Group Plc raised its stake in PepsiCo by 7.2% during the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock valued at $2,234,400,000 after purchasing an additional 905,468 shares in the last quarter. Finally, Janney Montgomery Scott LLC bought a new position in PepsiCo during the third quarter valued at $151,749,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PEP has been the topic of several recent research reports. Barclays decreased their target price on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. TD Cowen lowered PepsiCo from a “buy” rating to a “hold” rating and lowered their price objective for the company from $190.00 to $183.00 in a research note on Thursday, October 10th. Morgan Stanley downgraded PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price on the stock. in a research report on Friday, September 20th. Bank of America lowered their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research report on Wednesday, October 9th. One equities 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 stock. According to data from MarketBeat.com, PepsiCo has a consensus rating of “Hold” and a consensus price target of $183.92.

PepsiCo Stock Down 1.0 %

NASDAQ:PEP opened at $156.72 on Wednesday. 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 cap of $215.02 billion, a PE ratio of 23.12, a price-to-earnings-growth ratio of 2.96 and a beta of 0.53. The company has a 50-day moving average of $170.00 and a 200 day moving average of $171.24. PepsiCo, Inc. has a 1-year low of $155.85 and a 1-year high of $183.41.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. The firm 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 company’s quarterly revenue was down .6% on a year-over-year basis. During the same period last year, the firm earned $2.25 earnings per share. As a group, research analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Announces Dividend

The business also recently disclosed 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. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.46%. PepsiCo’s dividend payout ratio (DPR) is currently 79.94%.

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.