McClarren Financial Advisors Inc. Raises Position in PepsiCo, Inc. (NASDAQ:PEP)

McClarren Financial Advisors Inc. boosted its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 256.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,938 shares of the company’s stock after buying an additional 2,114 shares during the period. McClarren Financial Advisors Inc.’s holdings in PepsiCo were worth $500,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of PEP. Flossbach Von Storch AG grew its position in shares of PepsiCo by 67.2% during the 1st quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock valued at $798,047,000 after purchasing an additional 1,832,385 shares in the last quarter. Swedbank AB grew its position in shares of PepsiCo by 211.4% during the 3rd quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock valued at $398,847,000 after purchasing an additional 1,592,343 shares in the last quarter. PineStone Asset Management Inc. grew its position in shares of PepsiCo by 125.2% during the 2nd quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock valued at $452,003,000 after purchasing an additional 1,523,631 shares in the last quarter. Van ECK Associates Corp grew its position in shares of PepsiCo by 429.3% during the 1st quarter. Van ECK Associates Corp now owns 1,454,793 shares of the company’s stock valued at $254,603,000 after purchasing an additional 1,179,922 shares in the last quarter. Finally, Legal & General Group Plc grew its position in shares of PepsiCo by 7.2% during the 2nd quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock valued at $2,234,400,000 after purchasing an additional 905,468 shares in the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Stock Performance

PepsiCo stock traded up $0.39 during midday trading on Friday, reaching $175.06. 5,097,170 shares of the company traded hands, compared to its average volume of 5,492,675. The firm has a market capitalization of $240.18 billion, a price-to-earnings ratio of 25.82, a price-to-earnings-growth ratio of 3.28 and a beta of 0.53. The business has a 50 day moving average of $173.78 and a two-hundred day moving average of $172.14. PepsiCo, Inc. has a 12 month low of $158.03 and a 12 month 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 0.70.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results 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. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The business had revenue of $23.32 billion for the quarter, compared to the consensus estimate of $23.86 billion. During the same period last year, the firm earned $2.25 earnings per share. The company’s quarterly revenue was down .6% on a year-over-year basis. As a group, research analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 6th were given 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 presently 79.94%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Morgan Stanley downgraded shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective for the company. in a report on Friday, September 20th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a report on Wednesday, October 9th. Royal Bank of Canada dropped their price objective on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. 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 report on Tuesday, July 9th. Finally, TD Cowen downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and lowered their price target for the stock from $190.00 to $183.00 in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $183.92.

About PepsiCo

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.