Kestra Investment Management LLC Buys Shares of 3,102 PepsiCo, Inc. (NASDAQ:PEP)

Kestra Investment Management LLC acquired a new stake in PepsiCo, Inc. (NASDAQ:PEP) during the third quarter, Holdings Channel reports. The institutional investor acquired 3,102 shares of the company’s stock, valued at approximately $527,000.

A number of other institutional investors have also made changes to their positions in the business. Mather Group LLC. raised its stake in PepsiCo by 17.3% in the second quarter. Mather Group LLC. now owns 16,517 shares of the company’s stock valued at $2,891,000 after buying an additional 2,431 shares during the period. Lynx Investment Advisory bought a new position in PepsiCo in the 2nd quarter valued at about $89,000. Sage Capital Advisors llc raised its position in shares of PepsiCo by 0.9% in the 2nd quarter. Sage Capital Advisors llc now owns 39,474 shares of the company’s stock valued at $6,510,000 after buying an additional 355 shares in the last quarter. Baker Ellis Asset Management LLC lifted its holdings in shares of PepsiCo by 2.0% during the 2nd quarter. Baker Ellis Asset Management LLC now owns 37,128 shares of the company’s stock worth $6,124,000 after acquiring an additional 745 shares during the period. Finally, Eastover Investment Advisors LLC increased its stake in PepsiCo by 1.6% in the second quarter. Eastover Investment Advisors LLC now owns 36,355 shares of the company’s stock valued at $5,947,000 after acquiring an additional 561 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

NASDAQ PEP opened at $163.45 on Monday. The company 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 company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a twelve month low of $155.85 and a twelve month high of $183.41. The stock has a fifty day simple moving average of $167.79 and a 200 day simple moving average of $170.30.

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

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 6th will be paid a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend is Friday, December 6th. PepsiCo’s dividend payout ratio is presently 79.94%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. cut their target price on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. TD Cowen lowered PepsiCo from a “buy” rating to a “hold” rating and reduced their price objective for the company from $190.00 to $183.00 in a research note on Thursday, October 10th. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Barclays reduced their price target on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Finally, Morgan Stanley cut shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective for the company. in a research report on Friday, September 20th. One investment 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. According to MarketBeat, PepsiCo has a consensus rating of “Hold” and an average price target of $183.92.

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.