Reliant Investment Management LLC Acquires 361 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Reliant Investment Management LLC boosted its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 1.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,873 shares of the company’s stock after buying an additional 361 shares during the period. PepsiCo makes up about 2.5% of Reliant Investment Management LLC’s investment portfolio, making the stock its 22nd largest position. Reliant Investment Management LLC’s holdings in PepsiCo were worth $5,250,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of PEP. Global Wealth Strategies & Associates increased its stake in PepsiCo by 59.0% during 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 during the period. Valued Wealth Advisors LLC increased its position in shares of PepsiCo by 77.5% during the first quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock valued at $28,000 after purchasing an additional 69 shares during the period. POM Investment Strategies LLC raised its stake in shares of PepsiCo by 141.3% in the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after purchasing an additional 106 shares in the last quarter. Summit Securities Group LLC bought a new position in PepsiCo in the second quarter worth $30,000. Finally, Fortis Group Advisors LLC increased its holdings in PepsiCo by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock valued at $33,000 after buying an additional 97 shares during the period. 73.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PEP. Bank of America decreased their target price on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Barclays decreased their price objective on PepsiCo from $187.00 to $186.00 and set an “overweight” rating on the stock in a report on Friday, October 4th. Wells Fargo & Company cut their target price 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. Morgan Stanley cut PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target on the stock. in a research report on Friday, September 20th. Finally, DZ Bank cut PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective for the company. in a report on Friday, July 19th. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $185.29.

PepsiCo Stock Up 1.9 %

Shares of NASDAQ: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 firm has a market cap of $234.29 billion, a P/E ratio of 24.73, a P/E/G ratio of 3.07 and a beta of 0.53. 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 company’s 50-day moving average price is $173.68 and its two-hundred day moving average price is $172.07.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $23.86 billion. During the same quarter last year, the business posted $2.25 earnings per share. PepsiCo’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, research analysts forecast that PepsiCo, Inc. will post 8.13 EPS for the current fiscal year.

PepsiCo Dividend Announcement

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