Sterling Investment Management LLC Acquires New Shares in PepsiCo, Inc. $PEP

Sterling Investment Management LLC bought a new position in shares of PepsiCo, Inc. (NASDAQ:PEP) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 21,079 shares of the company’s stock, valued at approximately $2,960,000. PepsiCo makes up about 1.8% of Sterling Investment Management LLC’s portfolio, making the stock its 18th biggest position.

Other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of PepsiCo during the second quarter worth $2,330,594,000. Laurel Wealth Advisors LLC boosted 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 in the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in shares of PepsiCo during the 2nd quarter worth approximately $460,110,000. Charles Schwab Investment Management Inc. increased its stake in shares of PepsiCo by 9.7% in the 2nd 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 in the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of PepsiCo by 19.5% during the 2nd quarter. Franklin Resources Inc. now owns 15,577,073 shares of the company’s stock valued at $2,056,797,000 after acquiring an additional 2,541,455 shares during the period. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Royal Bank Of Canada decreased their price target on shares of PepsiCo from $146.00 to $145.00 and set a “sector perform” rating for the company in a research note on Monday, September 15th. Barclays upped their price target on PepsiCo from $142.00 to $144.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 10th. Piper Sandler raised their price objective on PepsiCo from $161.00 to $172.00 and gave the company an “overweight” rating in a research note on Tuesday, December 9th. HSBC upped 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. Finally, Wells Fargo & Company lifted their price target on shares of PepsiCo from $150.00 to $154.00 and gave the company a “positive” rating in a research report on Friday, October 10th. Eight equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, PepsiCo currently has a consensus rating of “Hold” and a consensus target price of $158.75.

PepsiCo Trading Down 0.1%

Shares of PepsiCo stock opened at $144.16 on Wednesday. The stock has a fifty day simple moving average of $146.91 and a 200 day simple moving average of $143.68. 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 market capitalization of $197.12 billion, a P/E ratio of 27.41, a price-to-earnings-growth ratio of 4.98 and a beta of 0.42.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Wednesday, October 8th. The company reported $2.29 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $23.91 billion. During the same quarter in the prior year, the firm earned $2.31 EPS. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, sell-side analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Friday, December 5th will be paid a $1.4225 dividend. This represents a $5.69 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Friday, December 5th. PepsiCo’s payout ratio is currently 108.17%.

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.