PepsiCo, Inc. (NASDAQ:PEP) Shares Purchased by Novare Capital Management LLC

Novare Capital Management LLC boosted its stake in PepsiCo, Inc. (NASDAQ:PEP) by 0.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,144 shares of the company’s stock after purchasing an additional 378 shares during the period. Novare Capital Management LLC’s holdings in PepsiCo were worth $10,908,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Granite Harbor Advisors Inc. acquired a new stake in shares of PepsiCo during the third quarter valued at about $251,000. Elk River Wealth Management LLC grew its stake in shares of PepsiCo by 3.4% during the third quarter. Elk River Wealth Management LLC now owns 25,633 shares of the company’s stock valued at $4,359,000 after acquiring an additional 831 shares in the last quarter. Empirical Asset Management LLC lifted its position in shares of PepsiCo by 7.3% during the third quarter. Empirical Asset Management LLC now owns 34,815 shares of the company’s stock worth $5,920,000 after purchasing an additional 2,382 shares during the last quarter. Oxler Private Wealth LLC lifted its position in shares of PepsiCo by 0.7% during the third quarter. Oxler Private Wealth LLC now owns 14,941 shares of the company’s stock worth $2,541,000 after purchasing an additional 108 shares during the last quarter. Finally, Stablepoint Partners LLC lifted its position in shares of PepsiCo by 1.1% during the third quarter. Stablepoint Partners LLC now owns 35,723 shares of the company’s stock worth $6,075,000 after purchasing an additional 384 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Trading Down 0.1 %

NASDAQ PEP traded down $0.25 on Monday, hitting $174.56. 670,140 shares of the stock were exchanged, compared to its average volume of 5,486,029. PepsiCo, Inc. has a 52-week low of $158.03 and a 52-week high of $183.41. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.64. The company has a market capitalization of $239.98 billion, a price-to-earnings ratio of 25.40, a P/E/G ratio of 3.11 and a beta of 0.53. The company’s 50-day moving average price is $173.52 and its two-hundred day moving average price is $172.07.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.01. The firm had revenue of $23.32 billion for the quarter, compared to analysts’ expectations of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.25 EPS. Research analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Bank of America cut their target price on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. DZ Bank cut PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target on the stock. in a report on Friday, July 19th. BNP Paribas assumed coverage on PepsiCo in a report on Monday, June 24th. They set a “neutral” rating and a $174.00 price target on the stock. JPMorgan Chase & Co. cut their price target on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Finally, Wells Fargo & Company cut their price target on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. One investment 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $183.92.

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.