PepsiCo, Inc. (NASDAQ:PEP) Shares Purchased by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC increased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 12.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,829 shares of the company’s stock after purchasing an additional 1,527 shares during the quarter. Miracle Mile Advisors LLC’s holdings in PepsiCo were worth $2,352,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of PEP. XML Financial LLC lifted its holdings in PepsiCo by 3.9% in the fourth quarter. XML Financial LLC now owns 14,252 shares of the company’s stock valued at $2,421,000 after acquiring an additional 538 shares during the period. Unigestion Holding SA increased its position in shares of PepsiCo by 43.0% in the fourth quarter. Unigestion Holding SA now owns 161,310 shares of the company’s stock valued at $27,397,000 after buying an additional 48,469 shares in the last quarter. Keyes Stange & Wooten Wealth Management LLC purchased a new position in shares of PepsiCo in the fourth quarter valued at $328,000. Vontobel Asset Management Inc. increased its position in shares of PepsiCo by 23.6% in the fourth quarter. Vontobel Asset Management Inc. now owns 1,640,057 shares of the company’s stock valued at $289,649,000 after buying an additional 313,078 shares in the last quarter. Finally, MGO One Seven LLC increased its position in shares of PepsiCo by 46.7% in the fourth quarter. MGO One Seven LLC now owns 25,508 shares of the company’s stock valued at $4,332,000 after buying an additional 8,115 shares in the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PEP. TD Cowen dropped their price target on PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Royal Bank of Canada dropped their price target on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research report on Friday. DZ Bank cut PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective for the company. in a research report on Friday, July 19th. BNP Paribas initiated coverage on PepsiCo in a research report on Monday, June 24th. They set a “neutral” rating and a $174.00 price objective for the company. Finally, Wells Fargo & Company dropped their price objective on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, PepsiCo has an average rating of “Hold” and an average target price of $185.29.

PepsiCo Stock Down 0.5 %

Shares of NASDAQ:PEP opened at $167.21 on Tuesday. The stock has a market capitalization of $229.67 billion, a P/E ratio of 24.27, a PEG ratio of 3.07 and a beta of 0.53. PepsiCo, Inc. has a 1 year low of $157.43 and a 1 year high of $183.41. The stock has a 50-day simple moving average of $173.80 and a 200-day simple moving average of $172.11. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.64 and a current ratio of 0.83.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Thursday, July 11th. The company reported $2.28 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.12. The firm 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%. PepsiCo’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.09 EPS. Equities analysts forecast that PepsiCo, Inc. will post 8.13 earnings per share for the current year.

PepsiCo Announces Dividend

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 $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend was Friday, September 6th. PepsiCo’s payout ratio is 78.66%.

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.