PepsiCo, Inc. (NASDAQ:PEP) Shares Purchased by Fisher Asset Management LLC

Fisher Asset Management LLC raised its stake in PepsiCo, Inc. (NASDAQ:PEP) by 5.7% in the third quarter, HoldingsChannel.com reports. The fund owned 7,854,268 shares of the company’s stock after purchasing an additional 422,080 shares during the quarter. Fisher Asset Management LLC’s holdings in PepsiCo were worth $1,335,618,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC boosted its position in PepsiCo by 17,113.0% during the third 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 boosted its holdings in shares of PepsiCo by 211.4% during the third quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock worth $398,847,000 after purchasing an additional 1,592,343 shares during the last quarter. PineStone Asset Management Inc. grew its position in shares of PepsiCo by 125.2% in the second quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock valued at $452,003,000 after purchasing an additional 1,523,631 shares during the period. Charles Schwab Investment Management Inc. lifted its position in PepsiCo by 5.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock worth $3,632,413,000 after buying an additional 1,125,059 shares during the period. Finally, Legal & General Group Plc boosted its stake in PepsiCo by 7.2% in the 2nd quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock worth $2,234,400,000 after buying an additional 905,468 shares during the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Stock Performance

Shares of PEP stock opened at $162.00 on Monday. 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 capitalization of $222.26 billion, a price-to-earnings ratio of 23.89, a PEG ratio of 3.02 and a beta of 0.53. PepsiCo, Inc. has a one year low of $155.85 and a one year high of $183.41. The company’s 50-day simple moving average is $169.01 and its 200-day simple moving average is $170.89.

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

PepsiCo Dividend Announcement

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 given 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 3.35%. PepsiCo’s dividend payout ratio is currently 79.94%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on PEP shares. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a report on Thursday, October 10th. TD Cowen downgraded PepsiCo from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $190.00 to $183.00 in a report on Thursday, October 10th. JPMorgan Chase & Co. reduced their target price on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Finally, Royal Bank of Canada decreased their target price on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, PepsiCo has a consensus rating of “Hold” and a consensus price target 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.