Sara Bay Financial Buys New Shares in PepsiCo, Inc. (NASDAQ:PEP)

Sara Bay Financial purchased a new stake in PepsiCo, Inc. (NASDAQ:PEP) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,395 shares of the company’s stock, valued at approximately $407,000.

Several other institutional investors also recently modified their holdings of PEP. Foresight Capital Management Advisors Inc. boosted its stake in PepsiCo by 9.1% during the third quarter. Foresight Capital Management Advisors Inc. now owns 15,366 shares of the company’s stock worth $2,613,000 after buying an additional 1,277 shares in the last quarter. SignalPoint Asset Management LLC boosted its position in shares of PepsiCo by 1.3% during the 3rd quarter. SignalPoint Asset Management LLC now owns 7,615 shares of the company’s stock valued at $1,295,000 after acquiring an additional 100 shares in the last quarter. Fulton Bank N.A. increased its stake in PepsiCo by 21.0% in the third quarter. Fulton Bank N.A. now owns 22,983 shares of the company’s stock valued at $3,908,000 after acquiring an additional 3,992 shares during the period. Founders Capital Management raised its position in PepsiCo by 6.9% in the third quarter. Founders Capital Management now owns 9,600 shares of the company’s stock worth $1,632,000 after purchasing an additional 621 shares in the last quarter. Finally, Prentice Wealth Management LLC boosted its holdings in PepsiCo by 6.3% during the third quarter. Prentice Wealth Management LLC now owns 3,770 shares of the company’s stock valued at $641,000 after purchasing an additional 223 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Trading Down 0.5 %

Shares of PEP stock traded down $0.76 on Monday, reaching $167.21. 5,453,608 shares of the stock were exchanged, compared to its average volume of 5,492,564. The stock has a 50 day moving average price of $173.80 and a 200 day moving average price of $172.11. The stock has a market cap of $229.67 billion, a PE ratio of 24.27, a P/E/G ratio of 3.07 and a beta of 0.53. PepsiCo, Inc. has a one year low of $157.43 and a one year high of $183.41. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.83 and a quick ratio of 0.64.

PepsiCo (NASDAQ:PEP) last released its earnings results on Thursday, July 11th. The company reported $2.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.12. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The company had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $22.59 billion. During the same period in the prior year, the company posted $2.09 EPS. The company’s revenue was up .8% compared to the same quarter last year. Equities research analysts forecast that PepsiCo, Inc. will post 8.13 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 6th were given a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.24%. The ex-dividend date was Friday, September 6th. PepsiCo’s payout ratio is 78.66%.

Wall Street Analyst Weigh In

PEP has been the subject of several analyst reports. JPMorgan Chase & Co. raised their target price on PepsiCo from $182.00 to $185.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. Barclays cut their price objective on PepsiCo from $187.00 to $186.00 and set an “overweight” rating for the company in a report on Friday. BNP Paribas assumed coverage on shares of PepsiCo in a report on Monday, June 24th. They issued a “neutral” rating and a $174.00 target price on the stock. Jefferies Financial Group reduced their price target on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Finally, DZ Bank lowered shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective for the company. in a report on Friday, July 19th. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $185.29.

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.