PepsiCo, Inc. (NASDAQ:PEP) Stock Position Boosted by Raymond James & Associates

Raymond James & Associates grew its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 7.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,272,043 shares of the company’s stock after buying an additional 149,849 shares during the quarter. Raymond James & Associates owned about 0.17% of PepsiCo worth $386,361,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Global Wealth Strategies & Associates grew its holdings in PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after acquiring an additional 59 shares during the period. Valued Wealth Advisors LLC grew its stake in shares of PepsiCo by 77.5% in the 1st quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after purchasing an additional 69 shares during the last quarter. POM Investment Strategies LLC raised its holdings in shares of PepsiCo by 141.3% in the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after purchasing an additional 106 shares in the last quarter. Summit Securities Group LLC bought a new stake in PepsiCo during the second quarter worth approximately $30,000. Finally, Mattson Financial Services LLC acquired a new position in PepsiCo in the second quarter worth approximately $34,000. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Stock Up 0.2 %

PEP stock traded up $0.39 during mid-day trading on Friday, hitting $175.06. The stock had a trading volume of 5,097,170 shares, compared to its average volume of 5,492,675. PepsiCo, Inc. has a 1-year low of $158.03 and a 1-year high of $183.41. The company has a fifty day moving average of $173.78 and a 200 day moving average of $172.13. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The stock has a market capitalization of $240.18 billion, a price-to-earnings ratio of 25.82, a PEG ratio of 3.28 and a beta of 0.53.

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

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 6th were issued a dividend of $1.355 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $5.42 annualized dividend and a yield of 3.10%. PepsiCo’s dividend payout ratio (DPR) is currently 79.94%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company reduced their price objective on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. BNP Paribas assumed coverage on PepsiCo in a research note on Monday, June 24th. They issued a “neutral” rating and a $174.00 price target on the stock. Jefferies Financial Group reduced their price objective on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Royal Bank of Canada dropped their target price 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. Finally, Morgan Stanley downgraded shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target for the company. in a research report on Friday, September 20th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price 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.