Y Intercept Hong Kong Ltd Raises Position in PepsiCo, Inc. (NASDAQ:PEP)

Y Intercept Hong Kong Ltd increased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 107.8% during the third quarter, HoldingsChannel reports. The fund owned 24,948 shares of the company’s stock after buying an additional 12,941 shares during the period. Y Intercept Hong Kong Ltd’s holdings in PepsiCo were worth $4,242,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in PEP. Empowered Funds LLC lifted its position in shares of PepsiCo by 9.2% during the 3rd quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock valued at $16,968,000 after acquiring an additional 8,406 shares during the period. Janus Henderson Group PLC raised its holdings in PepsiCo by 11.0% during the third quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock worth $59,549,000 after purchasing an additional 34,633 shares during the last quarter. IHT Wealth Management LLC boosted its position in PepsiCo by 19.3% during the third quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock worth $5,493,000 after purchasing an additional 5,220 shares in the last quarter. Meridian Wealth Management LLC acquired a new stake in PepsiCo in the third quarter valued at $9,589,000. Finally, Kestra Investment Management LLC acquired a new position in shares of PepsiCo during the 3rd quarter worth $527,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on PEP shares. JPMorgan Chase & Co. lowered their price objective on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Royal Bank of Canada lowered their price target on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. TD Cowen downgraded PepsiCo from a “buy” rating to a “hold” rating and cut their price objective for the stock from $190.00 to $183.00 in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft lowered their target price on PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a report on Wednesday, October 9th. Finally, StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. One investment 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, the company currently has an average rating of “Hold” and an average price target of $183.92.

PepsiCo Stock Performance

NASDAQ PEP opened at $157.79 on Monday. The business’s 50-day moving average price is $166.83 and its 200 day moving average price is $169.56. 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, Inc. has a twelve month low of $155.85 and a twelve month high of $183.41. The company has a market capitalization of $216.49 billion, a PE ratio of 23.27, a price-to-earnings-growth ratio of 2.94 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last announced 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. 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 analyst estimates of $23.86 billion. During the same period in the prior year, the firm posted $2.25 EPS. The company’s revenue was down .6% on a year-over-year basis. On average, research analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Dividend Announcement

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

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.