Benjamin Edwards Inc. Increases Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Benjamin Edwards Inc. increased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 739.9% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 119,863 shares of the company’s stock after purchasing an additional 105,592 shares during the period. Benjamin Edwards Inc.’s holdings in PepsiCo were worth $20,394,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Kestra Investment Management LLC purchased a new position in shares of PepsiCo during the 3rd quarter valued at $527,000. Paradigm Capital Management LLC NV purchased a new position in PepsiCo during the third quarter worth about $507,000. FSA Wealth Management LLC bought a new position in PepsiCo in the 3rd quarter worth about $114,000. B&L Asset Management LLC purchased a new stake in shares of PepsiCo in the 3rd quarter valued at about $1,183,000. Finally, Erste Asset Management GmbH bought a new stake in shares of PepsiCo during the 3rd quarter valued at about $24,026,000. Institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on PEP. JPMorgan Chase & Co. cut their target price on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a report on Thursday, October 10th. Bank of America reduced their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target for the company. in a research report on Friday, September 20th. Finally, Barclays cut their price objective on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock 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. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $183.92.

PepsiCo Price Performance

NASDAQ PEP opened at $163.45 on Monday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. PepsiCo, Inc. has a 1-year low of $155.85 and a 1-year high of $183.41. The stock has a market capitalization of $224.25 billion, a price-to-earnings ratio of 24.11, a PEG ratio of 3.05 and a beta of 0.53. The business’s fifty day moving average price is $167.79 and its 200-day moving average price is $170.30.

PepsiCo (NASDAQ:PEP) last announced its earnings results 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 net margin of 10.18% and a return on equity of 57.32%. The company had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. During the same period in the previous year, the business posted $2.25 earnings per share. The firm’s quarterly revenue was down .6% compared to the same quarter last year. On average, equities analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 6th will be paid a $1.355 dividend. This represents a $5.42 annualized dividend and a dividend yield of 3.32%. The ex-dividend date is Friday, December 6th. PepsiCo’s dividend payout ratio (DPR) is currently 79.94%.

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.