Highland Capital Management LLC Boosts Stock Position in PepsiCo, Inc. $PEP

Highland Capital Management LLC increased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 17.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 92,775 shares of the company’s stock after buying an additional 13,809 shares during the quarter. PepsiCo comprises 0.6% of Highland Capital Management LLC’s holdings, making the stock its 29th largest position. Highland Capital Management LLC’s holdings in PepsiCo were worth $13,029,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of PepsiCo during the 2nd quarter valued at about $2,330,594,000. Laurel Wealth Advisors LLC increased its holdings in shares of PepsiCo by 14,420.2% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 3,890,688 shares of the company’s stock worth $513,726,000 after buying an additional 3,863,893 shares during the last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in shares of PepsiCo during the 2nd quarter valued at approximately $460,110,000. Charles Schwab Investment Management Inc. lifted its holdings in PepsiCo by 9.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 29,031,404 shares of the company’s stock valued at $3,833,406,000 after acquiring an additional 2,556,163 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in PepsiCo by 19.5% in the second quarter. Franklin Resources Inc. now owns 15,577,073 shares of the company’s stock worth $2,056,797,000 after acquiring an additional 2,541,455 shares during the period. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Price Performance

PepsiCo stock opened at $143.64 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26. PepsiCo, Inc. has a 52-week low of $127.60 and a 52-week high of $160.15. The firm has a market cap of $196.40 billion, a PE ratio of 27.31, a price-to-earnings-growth ratio of 4.96 and a beta of 0.42. The company’s 50 day moving average is $147.47 and its two-hundred day moving average is $143.23.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Wednesday, October 8th. The company reported $2.29 EPS for the quarter, topping the consensus estimate of $2.26 by $0.03. The business had revenue of $23.94 billion during the quarter, compared to the consensus estimate of $23.91 billion. PepsiCo had a net margin of 7.82% and a return on equity of 57.58%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.31 earnings per share. On average, research analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Friday, December 5th will be issued a dividend of $1.4225 per share. The ex-dividend date is Friday, December 5th. This represents a $5.69 annualized dividend and a yield of 4.0%. PepsiCo’s dividend payout ratio is 108.17%.

Wall Street Analysts Forecast Growth

PEP has been the subject of a number of research analyst reports. UBS Group reiterated a “buy” rating and set a $172.00 price target on shares of PepsiCo in a report on Tuesday, December 9th. Citigroup lifted their price target on shares of PepsiCo from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, December 17th. Evercore ISI upped their price objective on shares of PepsiCo from $150.00 to $152.00 in a report on Friday, October 10th. Bank of America lifted their target price on shares of PepsiCo from $150.00 to $155.00 and gave the company a “neutral” rating in a report on Friday, October 10th. Finally, Royal Bank Of Canada decreased their price target on PepsiCo from $146.00 to $145.00 and set a “sector perform” rating on the stock in a research note on Monday, September 15th. Eight analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, PepsiCo currently has an average rating of “Hold” and an average price target of $158.75.

PepsiCo Profile

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.