Sanders Capital LLC Grows Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Sanders Capital LLC lifted its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.3% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 5,071,671 shares of the company’s stock after acquiring an additional 114,452 shares during the period. PepsiCo makes up approximately 1.2% of Sanders Capital LLC’s investment portfolio, making the stock its 24th largest holding. Sanders Capital LLC owned 0.37% of PepsiCo worth $862,438,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Global Wealth Strategies & Associates increased its holdings in shares of PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares during the period. Highline Wealth Partners LLC acquired a new position in PepsiCo in the 3rd quarter worth approximately $28,000. POM Investment Strategies LLC raised its position in PepsiCo by 141.3% during the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after buying an additional 106 shares during the last quarter. Summit Securities Group LLC acquired a new stake in PepsiCo during the 2nd quarter valued at approximately $30,000. Finally, Mattson Financial Services LLC acquired a new stake in shares of PepsiCo in the second quarter worth $34,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Stock Performance

NASDAQ:PEP opened at $163.05 on Tuesday. The company has a fifty day moving average of $168.73 and a two-hundred day moving average of $170.78. PepsiCo, Inc. has a fifty-two week low of $155.85 and a fifty-two week high of $183.41. The stock has a market capitalization of $223.70 billion, a PE ratio of 24.05, a P/E/G ratio of 3.02 and a beta of 0.53. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89.

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

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 6th will be given a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend is Friday, December 6th. PepsiCo’s payout ratio is 79.94%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft decreased their price objective on PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a report on Wednesday, October 9th. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research report on Thursday, October 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, TD Cowen lowered shares of PepsiCo from a “buy” rating to a “hold” rating and cut their target price for the company from $190.00 to $183.00 in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, PepsiCo currently has an average rating of “Hold” and a consensus price target 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.