B&L Asset Management LLC Makes New $1.18 Million Investment in PepsiCo, Inc. (NASDAQ:PEP)

B&L Asset Management LLC bought a new position in PepsiCo, Inc. (NASDAQ:PEP) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 6,954 shares of the company’s stock, valued at approximately $1,183,000.

A number of other hedge funds have also made changes to their positions in PEP. Global Wealth Strategies & Associates raised its position in PepsiCo by 59.0% in the 3rd 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 last quarter. Highline Wealth Partners LLC bought a new position in shares of PepsiCo in the third quarter valued at about $28,000. POM Investment Strategies LLC lifted 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 in the last quarter. Summit Securities Group LLC acquired a new stake in PepsiCo in the 2nd quarter valued at about $30,000. Finally, Rakuten Securities Inc. raised its stake in shares of PepsiCo by 93.2% in the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after acquiring an additional 96 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PEP. Deutsche Bank Aktiengesellschaft decreased their price target on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research note on Wednesday, October 9th. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Hsbc Global Res raised PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Bank of America lowered their price objective on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Finally, Morgan Stanley lowered shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price on the stock. in a research note on Friday, September 20th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $183.92.

PepsiCo Trading Up 0.4 %

PEP opened at $163.45 on Friday. The firm’s fifty day moving average is $167.79 and its two-hundred day moving average is $170.36. The firm has a market cap of $224.25 billion, a PE ratio of 24.11, a price-to-earnings-growth ratio of 3.05 and a beta of 0.53. PepsiCo, Inc. has a twelve month low of $155.85 and a twelve month high of $183.41. 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 data on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $23.86 billion. During the same quarter last year, the business posted $2.25 EPS. The firm’s revenue was down .6% compared to the same quarter last year. Equities research analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Dividend Announcement

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

PepsiCo Company 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.