PepsiCo, Inc. $PEP Holdings Increased by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC increased its stake in PepsiCo, Inc. (NASDAQ:PEP) by 38.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 43,472 shares of the company’s stock after acquiring an additional 12,162 shares during the period. HBK Sorce Advisory LLC’s holdings in PepsiCo were worth $6,036,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PEP. Nova Wealth Management Inc. bought a new position in PepsiCo during the 1st quarter valued at $25,000. Evolution Wealth Management Inc. bought a new position in PepsiCo during the second quarter valued at about $27,000. Legend Financial Advisors Inc. acquired a new position in PepsiCo during the second quarter worth about $29,000. Vermillion & White Wealth Management Group LLC raised its position in PepsiCo by 107.1% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 234 shares of the company’s stock worth $31,000 after acquiring an additional 121 shares in the last quarter. Finally, Frazier Financial Advisors LLC lifted its holdings in PepsiCo by 85.3% in the 2nd quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock valued at $35,000 after acquiring an additional 122 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

Shares of PepsiCo stock opened at $147.05 on Tuesday. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $160.15. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26. The stock has a market cap of $201.07 billion, a PE ratio of 27.96, a price-to-earnings-growth ratio of 5.11 and a beta of 0.42. The business has a fifty day simple moving average of $147.96 and a 200-day simple moving average of $143.13.

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

PepsiCo Dividend Announcement

The business also recently declared 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. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Friday, December 5th. PepsiCo’s dividend payout ratio is 108.17%.

Analysts Set New Price Targets

PEP has been the topic of a number of research reports. Jefferies Financial Group boosted their target price on shares of PepsiCo from $163.00 to $164.00 and gave the stock a “hold” rating in a report on Tuesday, December 9th. Evercore ISI upped their price target on PepsiCo from $150.00 to $152.00 in a report on Friday, October 10th. The Goldman Sachs Group raised their price objective on PepsiCo from $165.00 to $167.00 and gave the stock a “buy” rating in a research note on Friday, October 10th. DZ Bank raised PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 target price on the stock in a research report on Tuesday, October 21st. Finally, Royal Bank Of Canada decreased their price target on PepsiCo from $146.00 to $145.00 and set a “sector perform” rating for the company in a research report on Monday, September 15th. Eight investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $158.75.

About PepsiCo

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.