Pekin Hardy Strauss Inc. Grows Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Pekin Hardy Strauss Inc. grew its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,310 shares of the company’s stock after buying an additional 814 shares during the period. Pekin Hardy Strauss Inc.’s holdings in PepsiCo were worth $5,324,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in PEP. Charles Schwab Investment Management Inc. lifted its stake in PepsiCo by 5.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock valued at $3,632,413,000 after buying an additional 1,125,059 shares during the last quarter. Legal & General Group Plc raised its position in PepsiCo by 7.2% in the 2nd quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock valued at $2,234,400,000 after purchasing an additional 905,468 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in PepsiCo by 2.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,383,621 shares of the company’s stock worth $1,765,735,000 after purchasing an additional 236,091 shares during the period. Dimensional Fund Advisors LP increased its stake in PepsiCo by 8.2% in the second quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock valued at $1,221,089,000 after purchasing an additional 561,465 shares during the period. Finally, Ameriprise Financial Inc. raised its holdings in shares of PepsiCo by 1.1% in the second quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock valued at $846,030,000 after buying an additional 57,322 shares during the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Trading Up 1.0 %

NASDAQ PEP opened at $162.00 on Friday. PepsiCo, Inc. has a 12 month low of $155.85 and a 12 month high of $183.41. The company has a 50-day moving average of $169.01 and a 200-day moving average of $170.94. The company has a market cap of $222.26 billion, a P/E ratio of 23.89, a P/E/G ratio of 2.99 and a beta of 0.53. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, beating 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 firm had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. During the same quarter last year, the firm posted $2.25 earnings per share. PepsiCo’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, equities analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 6th will be issued a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend is Friday, December 6th. PepsiCo’s dividend payout ratio is presently 79.94%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Royal Bank of Canada reduced their price target on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. Bank of America lowered their price target on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a report on Wednesday, October 9th. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Finally, StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus 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.