Matrix Asset Advisors Inc. NY Grows Stake in PepsiCo, Inc. (NASDAQ:PEP)

Matrix Asset Advisors Inc. NY increased its position in PepsiCo, Inc. (NASDAQ:PEP) by 3.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,497 shares of the company’s stock after purchasing an additional 931 shares during the period. Matrix Asset Advisors Inc. NY’s holdings in PepsiCo were worth $5,356,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PEP. HCR Wealth Advisors boosted its stake in PepsiCo by 17.0% during the 3rd quarter. HCR Wealth Advisors now owns 2,618 shares of the company’s stock valued at $445,000 after purchasing an additional 380 shares during the last quarter. Ritholtz Wealth Management lifted its holdings in shares of PepsiCo by 4.1% during the third quarter. Ritholtz Wealth Management now owns 16,438 shares of the company’s stock valued at $2,795,000 after purchasing an additional 647 shares in the last quarter. Code Waechter LLC purchased a new stake in shares of PepsiCo during the third quarter valued at $448,000. McNamara Financial Services Inc. increased its holdings in PepsiCo by 0.7% in the 3rd quarter. McNamara Financial Services Inc. now owns 9,309 shares of the company’s stock worth $1,583,000 after buying an additional 67 shares in the last quarter. Finally, Silverlake Wealth Management LLC raised its position in PepsiCo by 8.3% in the 3rd quarter. Silverlake Wealth Management LLC now owns 2,547 shares of the company’s stock worth $433,000 after buying an additional 196 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 analysts have recently commented on the stock. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research note on Thursday. Morgan Stanley downgraded shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price for the company. in a research report on Friday, September 20th. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research note on Wednesday. Jefferies Financial Group reduced their price objective on PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Finally, TD Cowen downgraded PepsiCo from a “buy” rating to a “hold” rating and cut their price target for the company from $190.00 to $183.00 in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, PepsiCo has a consensus rating of “Hold” and a consensus target price of $183.92.

PepsiCo Stock Performance

PEP opened at $174.81 on Friday. The firm has a market cap of $240.33 billion, a P/E ratio of 25.37, a PEG ratio of 3.11 and a beta of 0.53. PepsiCo, Inc. has a 1-year low of $157.43 and a 1-year high of $183.41. The company has a 50 day simple moving average of $173.52 and a two-hundred day simple moving average of $172.08. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.64.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The business had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. During the same quarter in the prior year, the business posted $2.25 EPS. PepsiCo’s revenue for the quarter was down .6% compared to the same quarter last year. Equities analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 6th were paid a $1.355 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $5.42 annualized dividend and a yield of 3.10%. PepsiCo’s payout ratio is 78.66%.

PepsiCo Profile

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.