Voya Financial Advisors Inc. Raises Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Voya Financial Advisors Inc. boosted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 19.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,189 shares of the company’s stock after acquiring an additional 521 shares during the quarter. Voya Financial Advisors Inc.’s holdings in PepsiCo were worth $542,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Wellington Management Group LLP raised its holdings in PepsiCo by 2.7% in the 3rd quarter. Wellington Management Group LLP now owns 12,098,551 shares of the company’s stock worth $2,057,359,000 after purchasing an additional 313,468 shares during the period. Wallace Capital Management Inc. raised its stake in shares of PepsiCo by 4.5% during the 3rd quarter. Wallace Capital Management Inc. now owns 2,331 shares of the company’s stock worth $396,000 after buying an additional 100 shares during the period. Weaver Consulting Group grew its stake in PepsiCo by 7.2% in the 3rd quarter. Weaver Consulting Group now owns 2,928 shares of the company’s stock valued at $498,000 after acquiring an additional 196 shares during the period. Wills Financial Group Inc. increased its holdings in PepsiCo by 2.1% in the 3rd quarter. Wills Financial Group Inc. now owns 49,164 shares of the company’s stock worth $8,360,000 after acquiring an additional 1,014 shares in the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc lifted its holdings in PepsiCo by 3.7% during the third quarter. Texas Capital Bank Wealth Management Services Inc now owns 5,998 shares of the company’s stock valued at $1,020,000 after purchasing an additional 215 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Down 1.7 %

PEP stock opened at $157.79 on Friday. PepsiCo, Inc. has a 1-year low of $155.85 and a 1-year high of $183.41. The stock has a market cap of $216.49 billion, a P/E ratio of 23.27, a P/E/G ratio of 2.98 and a beta of 0.52. The stock’s fifty day simple moving average is $166.83 and its two-hundred day simple moving average is $169.72. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96.

PepsiCo (NASDAQ:PEP) last released 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 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 earnings per share. The company’s revenue for the quarter was down .6% on a year-over-year basis. Analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 6th will be paid a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date is Friday, December 6th. PepsiCo’s payout ratio is 79.94%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PEP shares. Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target on the stock. in a research note on Friday, September 20th. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. TD Cowen lowered 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 report on Thursday, October 10th. Barclays cut their price objective on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Finally, Hsbc Global Res raised PepsiCo to a “hold” rating in a report on Thursday, October 10th. One research 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, PepsiCo has a consensus rating of “Hold” and a consensus price target of $183.92.

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.