Sage Capital Advisors llc Acquires 353 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Sage Capital Advisors llc lifted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 39,827 shares of the company’s stock after acquiring an additional 353 shares during the quarter. PepsiCo comprises approximately 1.8% of Sage Capital Advisors llc’s holdings, making the stock its 15th largest position. Sage Capital Advisors llc’s holdings in PepsiCo were worth $6,773,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in PEP. Talbot Financial LLC boosted its holdings in PepsiCo by 5.0% during the third quarter. Talbot Financial LLC now owns 54,262 shares of the company’s stock valued at $9,227,000 after acquiring an additional 2,561 shares during the period. Trust Co of Kansas lifted its position in shares of PepsiCo by 59.8% during the 3rd quarter. Trust Co of Kansas now owns 5,542 shares of the company’s stock worth $942,000 after purchasing an additional 2,074 shares during the last quarter. Reliant Investment Management LLC grew its holdings in PepsiCo by 1.2% in the 3rd quarter. Reliant Investment Management LLC now owns 30,873 shares of the company’s stock valued at $5,250,000 after buying an additional 361 shares during the last quarter. Country Trust Bank boosted its position in shares of PepsiCo by 2.3% in the third quarter. Country Trust Bank now owns 131,428 shares of the company’s stock valued at $22,349,000 after acquiring an additional 2,960 shares during the period. Finally, Sugarloaf Wealth Management LLC grew its stake in shares of PepsiCo by 7.2% in the third quarter. Sugarloaf Wealth Management LLC now owns 2,733 shares of the company’s stock worth $465,000 after acquiring an additional 183 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Price Performance

PEP opened at $170.42 on Wednesday. The stock 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. PepsiCo, Inc. has a 12 month low of $157.43 and a 12 month high of $183.41. 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 has a fifty day simple moving average of $173.68 and a 200 day simple moving average of $172.07.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share 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 company had revenue of $23.32 billion during the quarter, compared to analysts’ expectations of $23.86 billion. During the same quarter in the prior year, the company earned $2.25 earnings per share. The business’s quarterly revenue was down .6% compared to the same quarter last year. On average, research analysts expect that PepsiCo, Inc. will post 8.13 EPS for the current year.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders 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 3.18%. The ex-dividend date of this dividend was Friday, September 6th. PepsiCo’s dividend payout ratio is presently 78.66%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on PEP shares. Bank of America lowered their price target on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. TD Cowen decreased their price objective on PepsiCo from $200.00 to $190.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. BNP Paribas began coverage on PepsiCo in a research report on Monday, June 24th. They set a “neutral” rating and a $174.00 target price for the company. 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, Royal Bank of Canada cut their price objective on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, PepsiCo has an average rating of “Hold” and an average target price of $185.29.

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.