Elk River Wealth Management LLC Grows Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Elk River Wealth Management LLC grew its stake in PepsiCo, Inc. (NASDAQ:PEP) by 3.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,633 shares of the company’s stock after purchasing an additional 831 shares during the period. Elk River Wealth Management LLC’s holdings in PepsiCo were worth $4,359,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Centaurus Financial Inc. lifted its holdings in shares of PepsiCo by 13.4% in the fourth quarter. Centaurus Financial Inc. now owns 4,913 shares of the company’s stock valued at $834,000 after purchasing an additional 581 shares in the last quarter. Scarborough Advisors LLC purchased a new stake in shares of PepsiCo in the fourth quarter valued at $103,000. Northwest Bank & Trust Co acquired a new position in PepsiCo in the fourth quarter valued at $78,000. Fortis Group Advisors LLC boosted its stake in PepsiCo by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock worth $33,000 after buying an additional 97 shares during the last quarter. Finally, Twin Focus Capital Partners LLC purchased a new stake in PepsiCo in the 4th quarter valued at about $201,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analysts Set New Price Targets

PEP has been the subject of a number of research analyst reports. Bank of America dropped their price objective on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. Jefferies Financial Group dropped their price objective on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Wells Fargo & Company reduced their target price on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective on the stock. in a research report on Friday, September 20th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. 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, the company presently has an average rating of “Hold” and a consensus price target of $183.92.

PepsiCo Stock Up 0.1 %

Shares of PepsiCo stock traded up $0.23 during trading on Monday, reaching $175.04. The company had a trading volume of 420,140 shares, compared to its average volume of 5,484,767. The company has a market cap of $240.64 billion, a price-to-earnings ratio of 25.37, a price-to-earnings-growth ratio of 3.11 and a beta of 0.53. PepsiCo, Inc. has a fifty-two week low of $158.03 and a fifty-two week high of $183.41. The firm’s fifty day moving average is $173.52 and its 200-day moving average is $172.07. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.64 and a current ratio of 0.89.

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

PepsiCo Dividend Announcement

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