World Investment Advisors LLC Has $12.01 Million Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

World Investment Advisors LLC increased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 14.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 70,606 shares of the company’s stock after acquiring an additional 8,991 shares during the quarter. World Investment Advisors LLC’s holdings in PepsiCo were worth $12,007,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Empowered Funds LLC boosted its position in shares of PepsiCo by 9.2% in the third 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 grew its holdings in shares of PepsiCo by 11.0% during the 3rd 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 in the last quarter. IHT Wealth Management LLC raised its stake in PepsiCo by 19.3% in the third quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock valued at $5,493,000 after purchasing an additional 5,220 shares in the last quarter. Meridian Wealth Management LLC bought a new stake in PepsiCo during the third quarter worth about $9,589,000. Finally, Kestra Investment Management LLC bought a new position in PepsiCo in the 3rd quarter valued at about $527,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PEP has been the topic of several analyst reports. TD Cowen lowered shares of PepsiCo from a “buy” rating to a “hold” rating and reduced their price target for the stock from $190.00 to $183.00 in a research report on Thursday, October 10th. Royal Bank of Canada decreased their price target on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. lowered their price target on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $184.31.

PepsiCo Trading Down 1.9 %

NASDAQ:PEP opened at $156.77 on Thursday. PepsiCo, Inc. has a 52 week low of $155.85 and a 52 week high of $183.41. The firm’s fifty day moving average is $166.39 and its 200-day moving average is $169.29. The firm has a market cap of $215.09 billion, a P/E ratio of 23.12, a P/E/G ratio of 2.94 and a beta of 0.52. 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 released its earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, topping the consensus estimate of $2.30 by $0.01. The business had revenue of $23.32 billion during the quarter, compared to analysts’ expectations of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The firm’s revenue was down .6% on a year-over-year basis. During the same quarter last year, the firm posted $2.25 earnings per share. Equities analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 6th will be given a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date is Friday, December 6th. PepsiCo’s payout ratio is 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.