Everence Capital Management Inc. Raises Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Everence Capital Management Inc. grew its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 48.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 56,089 shares of the company’s stock after purchasing an additional 18,250 shares during the period. Everence Capital Management Inc.’s holdings in PepsiCo were worth $8,529,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Opes Wealth Management LLC lifted its stake in shares of PepsiCo by 2.2% during the second quarter. Opes Wealth Management LLC now owns 2,748 shares of the company’s stock worth $453,000 after buying an additional 59 shares during the period. Global Wealth Strategies & Associates lifted its position in PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after acquiring an additional 59 shares during the period. Oxbow Advisors LLC increased its holdings in shares of PepsiCo by 0.7% in the second quarter. Oxbow Advisors LLC now owns 8,982 shares of the company’s stock valued at $1,481,000 after purchasing an additional 60 shares during the period. Cross Staff Investments Inc lifted its holdings in shares of PepsiCo by 0.9% during the third quarter. Cross Staff Investments Inc now owns 7,080 shares of the company’s stock worth $1,204,000 after purchasing an additional 60 shares during the period. Finally, Paulson Wealth Management Inc. boosted its position in PepsiCo by 2.1% in the third quarter. Paulson Wealth Management Inc. now owns 2,986 shares of the company’s stock valued at $508,000 after buying an additional 60 shares during the last quarter. 73.07% of the stock is owned by institutional investors.

PepsiCo Price Performance

PepsiCo stock traded up $0.56 during midday trading on Friday, reaching $150.77. The company had a trading volume of 1,438,999 shares, compared to its average volume of 3,073,778. PepsiCo, Inc. has a 12-month low of $149.71 and a 12-month high of $183.41. The firm’s fifty day simple moving average is $159.95 and its 200-day simple moving average is $167.37. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. The company has a market capitalization of $206.85 billion, a P/E ratio of 22.24, a P/E/G ratio of 2.94 and a beta of 0.52.

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

PepsiCo Dividend Announcement

The firm also recently declared 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 3.59%. The ex-dividend date of this dividend is Friday, December 6th. PepsiCo’s dividend payout ratio is currently 79.94%.

Wall Street Analyst Weigh In

Several analysts have commented on PEP shares. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Morgan Stanley downgraded PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target on the stock. in a research report on Friday, September 20th. Barclays lowered their target price on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Finally, Bank of America lowered their price objective on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $184.31.

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.