PepsiCo, Inc. (NASDAQ:PEP) Shares Bought by Country Trust Bank

Country Trust Bank grew its position in PepsiCo, Inc. (NASDAQ:PEP) by 2.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 131,428 shares of the company’s stock after acquiring an additional 2,960 shares during the quarter. Country Trust Bank’s holdings in PepsiCo were worth $22,349,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PEP. Global Wealth Strategies & Associates lifted its position in shares of PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after acquiring an additional 59 shares in the last quarter. Valued Wealth Advisors LLC lifted its position in PepsiCo by 77.5% during the first quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after buying an additional 69 shares in the last quarter. POM Investment Strategies LLC lifted its position in PepsiCo by 141.3% during the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after buying an additional 106 shares in the last quarter. Summit Securities Group LLC purchased a new position in PepsiCo during the second quarter worth approximately $30,000. Finally, Fortis Group Advisors LLC lifted its position in PepsiCo by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock worth $33,000 after buying an additional 97 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on PEP. Royal Bank of Canada reduced their price objective on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. JPMorgan Chase & Co. lifted their price objective on PepsiCo from $182.00 to $185.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. Morgan Stanley downgraded PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price on the stock. in a research report on Friday, September 20th. StockNews.com downgraded PepsiCo from a “buy” rating to a “hold” rating in a research report on Friday, September 20th. Finally, Barclays reduced their target price on PepsiCo from $187.00 to $186.00 and set an “overweight” rating on the stock in a research report on Friday, October 4th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, PepsiCo has a consensus rating of “Hold” and a consensus target price of $185.29.

PepsiCo Trading Up 1.9 %

PEP opened at $170.42 on Wednesday. PepsiCo, Inc. has a 12 month low of $157.43 and a 12 month high of $183.41. The stock has a market capitalization of $234.29 billion, a price-to-earnings ratio of 24.73, a PEG ratio of 3.07 and a beta of 0.53. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.83 and a quick ratio of 0.64. The business has a fifty day moving average price of $173.68 and a 200 day moving average price of $172.07.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, topping the consensus estimate of $2.30 by $0.01. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The firm had revenue of $23.32 billion during the quarter, compared to analysts’ expectations of $23.86 billion. During the same period in the previous year, the firm posted $2.25 EPS. PepsiCo’s revenue for the quarter was down .6% on a year-over-year basis. Sell-side analysts expect that PepsiCo, Inc. will post 8.13 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 6th were paid a dividend of $1.355 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $5.42 annualized dividend and a yield of 3.18%. PepsiCo’s payout ratio is 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.