Erste Asset Management GmbH Acquires New Position in PepsiCo, Inc. (NASDAQ:PEP)

Erste Asset Management GmbH acquired a new stake in PepsiCo, Inc. (NASDAQ:PEP) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 141,312 shares of the company’s stock, valued at approximately $24,026,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. True Wealth Design LLC raised its position in shares of PepsiCo by 233.3% in the 3rd quarter. True Wealth Design LLC now owns 1,360 shares of the company’s stock valued at $231,000 after purchasing an additional 952 shares during the last quarter. Semmax Financial Advisors Inc. raised its position in shares of PepsiCo by 13.9% in the 3rd quarter. Semmax Financial Advisors Inc. now owns 3,534 shares of the company’s stock valued at $581,000 after purchasing an additional 432 shares during the last quarter. Cobblestone Capital Advisors LLC NY raised its position in PepsiCo by 1.6% during the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 112,987 shares of the company’s stock worth $19,213,000 after buying an additional 1,797 shares during the last quarter. Encompass More Asset Management raised its position in PepsiCo by 38.9% during the 3rd quarter. Encompass More Asset Management now owns 2,432 shares of the company’s stock worth $414,000 after buying an additional 681 shares during the last quarter. Finally, L.M. Kohn & Company raised its position in PepsiCo by 1.7% during the 3rd quarter. L.M. Kohn & Company now owns 17,262 shares of the company’s stock worth $2,935,000 after buying an additional 283 shares during the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research report on Wednesday, October 9th. JPMorgan Chase & Co. reduced their price target 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. Bank of America reduced their price target on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Finally, TD Cowen lowered shares of PepsiCo from a “buy” rating to a “hold” rating and reduced their price target for the stock from $190.00 to $183.00 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 data from MarketBeat, PepsiCo presently has a consensus rating of “Hold” and a consensus price target of $183.92.

PepsiCo Stock Up 0.4 %

NASDAQ PEP opened at $163.45 on Friday. The firm has a market cap of $224.25 billion, a PE ratio of 24.11, a P/E/G ratio of 3.05 and a beta of 0.53. PepsiCo, Inc. has a 52 week low of $155.85 and a 52 week high of $183.41. The business’s fifty day simple moving average is $167.79 and its 200-day simple moving average is $170.36. 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 (NASDAQ:PEP) last issued its quarterly earnings data 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. The firm had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. PepsiCo’s revenue was down .6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.25 EPS. As a group, equities analysts anticipate 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. Investors of record on Friday, December 6th will be issued a $1.355 dividend. The ex-dividend date is Friday, December 6th. This represents a $5.42 annualized dividend and a yield of 3.32%. PepsiCo’s dividend payout ratio (DPR) is currently 79.94%.

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.