PepsiCo, Inc. (NASDAQ:PEP) Shares Purchased by RBO & Co. LLC

RBO & Co. LLC raised its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 0.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 117,102 shares of the company’s stock after acquiring an additional 521 shares during the period. PepsiCo makes up approximately 3.1% of RBO & Co. LLC’s portfolio, making the stock its 11th biggest position. RBO & Co. LLC’s holdings in PepsiCo were worth $19,913,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Empowered Funds LLC grew its position in PepsiCo by 9.2% during the third quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock valued at $16,968,000 after acquiring an additional 8,406 shares during the period. Meridian Wealth Management LLC purchased a new stake in shares of PepsiCo during the 3rd quarter worth about $9,589,000. M&G Plc increased its position in PepsiCo by 3.6% during the 2nd quarter. M&G Plc now owns 426,269 shares of the company’s stock worth $70,334,000 after purchasing an additional 14,724 shares in the last quarter. Pinnacle Financial Partners Inc raised its holdings in PepsiCo by 3.5% in the third quarter. Pinnacle Financial Partners Inc now owns 135,331 shares of the company’s stock valued at $23,013,000 after buying an additional 4,547 shares during the period. Finally, Fiduciary Family Office LLC grew its stake in PepsiCo by 119.6% during the third quarter. Fiduciary Family Office LLC now owns 6,843 shares of the company’s stock worth $1,164,000 after buying an additional 3,727 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on PEP shares. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a report on Thursday, October 10th. TD Cowen lowered PepsiCo from a “buy” rating to a “hold” rating and lowered their target price for the company from $190.00 to $183.00 in a research note on Thursday, October 10th. 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 report on Wednesday, October 9th. Bank of America lowered their price objective on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Finally, Royal Bank of Canada decreased their target price on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research note on Friday, October 4th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, PepsiCo presently has an average rating of “Hold” and an average target price of $183.92.

PepsiCo Price Performance

Shares of PEP opened at $162.16 on Wednesday. PepsiCo, Inc. has a 52 week low of $155.85 and a 52 week high of $183.41. 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 firm has a market cap of $222.48 billion, a price-to-earnings ratio of 23.92, a PEG ratio of 3.04 and a beta of 0.53. The stock has a 50 day moving average of $168.43 and a 200-day moving average of $170.66.

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

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 6th will be issued a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend is Friday, December 6th. PepsiCo’s dividend payout ratio (DPR) is presently 79.94%.

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.