Prosperity Financial Group Inc. Buys 78 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Prosperity Financial Group Inc. increased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 5.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,444 shares of the company’s stock after acquiring an additional 78 shares during the quarter. Prosperity Financial Group Inc.’s holdings in PepsiCo were worth $246,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Global Wealth Strategies & Associates grew its stake in shares of PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after purchasing an additional 59 shares during the last quarter. Highline Wealth Partners LLC purchased a new stake in PepsiCo in the 3rd quarter worth approximately $28,000. POM Investment Strategies LLC grew its position 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 buying an additional 106 shares during the last quarter. Summit Securities Group LLC purchased a new position in shares of PepsiCo during the second quarter valued at approximately $30,000. Finally, Mattson Financial Services LLC bought a new position in shares of PepsiCo during the second quarter valued at approximately $34,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Price Performance

Shares of PEP opened at $162.00 on Monday. The firm has a market cap of $222.26 billion, a PE ratio of 23.89, a P/E/G ratio of 3.02 and a beta of 0.53. 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 firm has a fifty day simple moving average of $169.01 and a two-hundred day simple moving average of $170.89. PepsiCo, Inc. has a 1-year low of $155.85 and a 1-year high of $183.41.

PepsiCo (NASDAQ:PEP) last announced its 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. The business had revenue of $23.32 billion during 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 quarterly revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.25 EPS. On average, equities analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.35%. PepsiCo’s dividend payout ratio is presently 79.94%.

Analyst Ratings Changes

A number of research analysts have issued reports on PEP shares. Bank of America reduced their price objective on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Morgan Stanley lowered shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective for the company. in a report on Friday, September 20th. Royal Bank of Canada decreased their target price on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Finally, Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $183.92.

PepsiCo 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.