Daymark Wealth Partners LLC Acquires 1,480 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Daymark Wealth Partners LLC increased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 85,509 shares of the company’s stock after buying an additional 1,480 shares during the quarter. Daymark Wealth Partners LLC’s holdings in PepsiCo were worth $14,541,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Flossbach Von Storch AG raised its position in PepsiCo by 67.2% in the first quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock valued at $798,047,000 after purchasing an additional 1,832,385 shares during the last quarter. PineStone Asset Management Inc. raised its holdings in PepsiCo by 125.2% in the 2nd quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock valued at $452,003,000 after buying an additional 1,523,631 shares during the last quarter. Van ECK Associates Corp boosted its position in PepsiCo by 429.3% during the 1st quarter. Van ECK Associates Corp now owns 1,454,793 shares of the company’s stock worth $254,603,000 after buying an additional 1,179,922 shares during the period. Confluence Investment Management LLC bought a new stake in PepsiCo during the 1st quarter worth approximately $166,243,000. Finally, Legal & General Group Plc increased its position in PepsiCo by 7.2% in the 2nd quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock valued at $2,234,400,000 after acquiring an additional 905,468 shares during the period. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Stock Up 0.4 %

Shares of NASDAQ PEP traded up $0.73 during trading on Wednesday, hitting $171.15. 1,558,869 shares of the company traded hands, compared to its average volume of 5,486,833. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.64 and a current ratio of 0.83. The business’s fifty day moving average is $173.63 and its 200 day moving average is $172.06. The firm has a market capitalization of $235.29 billion, a price-to-earnings ratio of 24.84, a P/E/G 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.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.01. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The business had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. During the same quarter last year, the firm posted $2.25 EPS. PepsiCo’s revenue was down .6% compared to the same quarter last year. Equities research analysts predict that PepsiCo, Inc. will post 8.13 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 6th were given a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend was Friday, September 6th. PepsiCo’s payout ratio is currently 78.66%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PEP. TD Cowen reduced their price objective on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. Morgan Stanley cut PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target for the company. in a research note on Friday, September 20th. Wells Fargo & Company cut their price objective on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Bank of America decreased their target price on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Finally, StockNews.com lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Friday, September 20th. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, PepsiCo has a consensus rating of “Hold” and an average target price 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.