Fulton Bank N.A. Increases Stake in PepsiCo, Inc. (NASDAQ:PEP)

Fulton Bank N.A. boosted its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 21.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,983 shares of the company’s stock after purchasing an additional 3,992 shares during the period. Fulton Bank N.A.’s holdings in PepsiCo were worth $3,908,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Flossbach Von Storch AG grew its stake in shares of PepsiCo by 67.2% during the first 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. PineStone Asset Management Inc. boosted its holdings in shares of PepsiCo by 125.2% in the second quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock valued at $452,003,000 after purchasing an additional 1,523,631 shares during the period. Van ECK Associates Corp grew its stake in PepsiCo by 429.3% in the first quarter. Van ECK Associates Corp now owns 1,454,793 shares of the company’s stock worth $254,603,000 after purchasing an additional 1,179,922 shares in the last quarter. Confluence Investment Management LLC bought a new stake in PepsiCo during the 1st quarter valued at $166,243,000. Finally, Legal & General Group Plc lifted its holdings in shares of PepsiCo by 7.2% in the 2nd quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock worth $2,234,400,000 after buying an additional 905,468 shares during the period. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target on the stock. in a research note on Friday, September 20th. DZ Bank lowered shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target for the company. in a report on Friday, July 19th. Jefferies Financial Group dropped their price objective on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. TD Cowen reduced their price objective on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Finally, BNP Paribas assumed coverage on PepsiCo in a research report on Monday, June 24th. They set a “neutral” rating and a $174.00 target price on the stock. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $185.29.

PepsiCo Stock Performance

PepsiCo stock traded down $0.76 during midday trading on Monday, hitting $167.21. 5,448,581 shares of the company were exchanged, compared to its average volume of 5,492,564. The firm has a market capitalization of $229.67 billion, a PE ratio of 24.23, a price-to-earnings-growth ratio of 3.07 and a beta of 0.53. PepsiCo, Inc. has a fifty-two week low of $157.43 and a fifty-two week high of $183.41. The business has a fifty day simple moving average of $173.80 and a two-hundred 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 posted its earnings results on Thursday, July 11th. The company reported $2.28 EPS for the quarter, topping the consensus estimate of $2.16 by $0.12. The firm had revenue of $22.50 billion for the quarter, compared to analyst estimates of $22.59 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. PepsiCo’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period last year, the company earned $2.09 earnings per share. On average, sell-side analysts forecast that PepsiCo, Inc. will post 8.13 earnings per share for the current year.

PepsiCo Dividend Announcement

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

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.