Atwood & Palmer Inc. Increases Stake in PepsiCo, Inc. (NASDAQ:PEP)

Atwood & Palmer Inc. raised its position in PepsiCo, Inc. (NASDAQ:PEP) by 1.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,753 shares of the company’s stock after purchasing an additional 160 shares during the period. Atwood & Palmer Inc.’s holdings in PepsiCo were worth $2,339,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Legal & General Group Plc boosted its position in shares of PepsiCo by 7.2% during the 2nd quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock worth $2,234,400,000 after acquiring an additional 905,468 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in PepsiCo by 7.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company’s stock valued at $1,673,632,000 after purchasing an additional 700,092 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in PepsiCo by 8.2% during the second quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock worth $1,221,089,000 after purchasing an additional 561,465 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of PepsiCo by 1.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock worth $846,030,000 after buying an additional 57,322 shares during the last quarter. Finally, Flossbach Von Storch AG grew its position in shares of PepsiCo by 67.2% in the 1st quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock valued at $798,047,000 after buying an additional 1,832,385 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Trading Down 0.5 %

NASDAQ PEP opened at $167.21 on Tuesday. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.87. The stock has a market capitalization of $229.67 billion, a P/E ratio of 24.27, a P/E/G ratio of 3.07 and a beta of 0.53. PepsiCo, Inc. has a 52-week low of $157.43 and a 52-week high of $183.41. The firm has a 50-day moving average price of $173.80 and a 200 day moving average price of $172.11.

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

PepsiCo Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 6th were issued a $1.355 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.24%. PepsiCo’s dividend payout ratio is presently 78.66%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on PEP shares. Barclays reduced their price target on shares of PepsiCo from $187.00 to $186.00 and set an “overweight” rating for the company in a research report on Friday. BNP Paribas started coverage on PepsiCo in a research report on Monday, June 24th. They issued a “neutral” rating and a $174.00 target price for the company. Wells Fargo & Company cut their price target on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Morgan Stanley downgraded 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. Finally, JPMorgan Chase & Co. lifted their target price on shares of PepsiCo from $182.00 to $185.00 and gave the company a “neutral” rating in a report on Tuesday, October 1st. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, PepsiCo presently has an average rating of “Hold” and a consensus price target of $185.29.

PepsiCo Company 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.