Cerity Partners LLC Buys 96,198 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Cerity Partners LLC boosted its position in PepsiCo, Inc. (NASDAQ:PEP) by 11.3% during the third quarter, Holdings Channel reports. The fund owned 944,940 shares of the company’s stock after acquiring an additional 96,198 shares during the period. Cerity Partners LLC’s holdings in PepsiCo were worth $160,687,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PEP. Global Wealth Strategies & Associates grew its holdings in shares of PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares during the last quarter. Highline Wealth Partners LLC purchased a new stake in shares of PepsiCo during the third quarter valued at approximately $28,000. POM Investment Strategies LLC increased its stake in shares of PepsiCo by 141.3% in the second 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 period. Summit Securities Group LLC bought a new stake in PepsiCo in the 2nd quarter worth $30,000. Finally, Mattson Financial Services LLC bought a new position in shares of PepsiCo during the second quarter valued at about $34,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Trading Up 1.0 %

NASDAQ PEP opened at $162.00 on Friday. The stock’s fifty day moving average price is $169.01 and its 200-day moving average price is $170.98. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The stock has a market cap of $222.26 billion, a P/E ratio of 23.89, a P/E/G ratio of 2.99 and a beta of 0.53. PepsiCo, Inc. has a 12 month low of $155.85 and a 12 month 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 for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. The business had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. PepsiCo’s revenue was down .6% compared to the same quarter last year. During the same period last year, the business earned $2.25 EPS. As a group, equities analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders 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 annualized dividend and a yield of 3.35%. PepsiCo’s dividend payout ratio is 79.94%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Barclays reduced their price objective 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. Morgan Stanley cut shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price for the company. in a research report on Friday, September 20th. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Finally, Hsbc Global Res raised PepsiCo to a “hold” rating in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $183.92.

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.