4,421 Shares in PepsiCo, Inc. $PEP Bought by Shum Financial Group Inc.

Shum Financial Group Inc. purchased a new stake in PepsiCo, Inc. (NASDAQ:PEP) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 4,421 shares of the company’s stock, valued at approximately $621,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PEP. Sterling Investment Management LLC acquired a new stake in shares of PepsiCo during the third quarter valued at $2,960,000. Merit Financial Group LLC lifted its holdings in PepsiCo by 6.5% in the 3rd quarter. Merit Financial Group LLC now owns 121,795 shares of the company’s stock valued at $17,105,000 after purchasing an additional 7,451 shares in the last quarter. Moody Lynn & Lieberson LLC boosted its stake in shares of PepsiCo by 23.7% during the 3rd quarter. Moody Lynn & Lieberson LLC now owns 65,955 shares of the company’s stock worth $9,263,000 after purchasing an additional 12,658 shares during the last quarter. Marietta Wealth Management LLC grew its holdings in shares of PepsiCo by 4.2% during the third quarter. Marietta Wealth Management LLC now owns 62,027 shares of the company’s stock worth $8,711,000 after buying an additional 2,499 shares in the last quarter. Finally, Calamos Wealth Management LLC raised its position in shares of PepsiCo by 85.8% in the third quarter. Calamos Wealth Management LLC now owns 9,653 shares of the company’s stock valued at $1,356,000 after buying an additional 4,457 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Down 0.1%

Shares of NASDAQ:PEP opened at $144.16 on Wednesday. The firm has a market cap of $197.12 billion, a PE ratio of 27.41, a price-to-earnings-growth ratio of 4.98 and a beta of 0.42. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $160.15. The company has a fifty day simple moving average of $146.91 and a 200 day simple moving average of $143.68.

PepsiCo (NASDAQ:PEP) last released its earnings results on Wednesday, October 8th. The company reported $2.29 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.03. The company 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 revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.31 EPS. On average, equities research analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Friday, December 5th will be given a $1.4225 dividend. The ex-dividend date is Friday, December 5th. This represents a $5.69 annualized dividend and a dividend yield of 3.9%. PepsiCo’s dividend payout ratio (DPR) is presently 108.17%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PEP shares. Piper Sandler raised their target price on shares of PepsiCo from $161.00 to $172.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 9th. Bank of America lifted their price objective on PepsiCo from $150.00 to $155.00 and gave the company a “neutral” rating in a research report on Friday, October 10th. HSBC increased their target price on PepsiCo from $145.00 to $152.00 and gave the stock a “hold” rating in a research report on Friday, October 10th. JPMorgan Chase & Co. raised shares of PepsiCo from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $151.00 to $164.00 in a research note on Wednesday, December 10th. Finally, Wall Street Zen downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Saturday. Eight analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $158.75.

PepsiCo Company 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.