Charles Schwab Investment Management Inc. Purchases 1,125,059 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Charles Schwab Investment Management Inc. increased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 5.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 21,360,850 shares of the company’s stock after purchasing an additional 1,125,059 shares during the period. PepsiCo makes up about 0.7% of Charles Schwab Investment Management Inc.’s portfolio, making the stock its 29th biggest position. Charles Schwab Investment Management Inc.’s holdings in PepsiCo were worth $3,632,413,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Global Wealth Strategies & Associates lifted its stake in shares of PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after purchasing an additional 59 shares during the last quarter. Highline Wealth Partners LLC bought a new stake in shares of PepsiCo in the 3rd quarter valued at about $28,000. POM Investment Strategies LLC grew its position in shares of PepsiCo by 141.3% in the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after buying an additional 106 shares during the last quarter. Summit Securities Group LLC bought a new position in shares of PepsiCo during the 2nd quarter worth approximately $30,000. Finally, Mattson Financial Services LLC acquired a new stake in PepsiCo in the second quarter valued at approximately $34,000. 73.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PEP. Bank of America lowered their price objective on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Deutsche Bank Aktiengesellschaft lowered their price target on PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research report on Wednesday, October 9th. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. TD Cowen downgraded PepsiCo from a “buy” rating to a “hold” rating and decreased their target price for the stock from $190.00 to $183.00 in a report on Thursday, October 10th. Finally, Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $183.92.

PepsiCo Stock Performance

Shares of PepsiCo stock opened at $158.86 on Thursday. The stock has a market capitalization of $217.95 billion, a price-to-earnings ratio of 23.41, a price-to-earnings-growth ratio of 2.92 and a beta of 0.53. 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 business has a 50-day moving average of $169.66 and a 200 day moving average of $171.16. PepsiCo, Inc. has a 12 month low of $155.85 and a 12 month high of $183.41.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating 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 business had revenue of $23.32 billion for the quarter, compared to analysts’ expectations of $23.86 billion. During the same period last year, the firm earned $2.25 earnings per share. The company’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, sell-side analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 6th will be issued a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date is Friday, December 6th. PepsiCo’s dividend payout ratio (DPR) is 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.