Hartford Financial Management Inc. Has $1,792,000 Stake in PepsiCo Inc. (PEP)
Hartford Financial Management Inc. held its position in PepsiCo Inc. (NYSE:PEP) during the third quarter, Holdings Channel reports. The firm owned 16,478 shares of the company’s stock at the end of the third quarter. Hartford Financial Management Inc.’s holdings in PepsiCo were worth $1,792,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Berkshire Asset Management LLC PA raised its position in PepsiCo by 3.7% in the third quarter. Berkshire Asset Management LLC PA now owns 8,220 shares of the company’s stock worth $894,000 after buying an additional 293 shares during the period. Gilman Hill Asset Management LLC raised its stake in PepsiCo by 2.3% in the third quarter. Gilman Hill Asset Management LLC now owns 4,855 shares of the company’s stock valued at $528,000 after buying an additional 110 shares during the last quarter. Oakworth Capital Inc. raised its stake in PepsiCo by 4.8% in the third quarter. Oakworth Capital Inc. now owns 10,049 shares of the company’s stock valued at $1,093,000 after buying an additional 458 shares during the last quarter. Wagner Bowman Management Corp raised its stake in PepsiCo by 2.5% in the third quarter. Wagner Bowman Management Corp now owns 36,316 shares of the company’s stock valued at $3,950,000 after buying an additional 876 shares during the last quarter. Finally, Regentatlantic Capital LLC raised its stake in PepsiCo by 6.7% in the third quarter. Regentatlantic Capital LLC now owns 13,585 shares of the company’s stock valued at $1,478,000 after buying an additional 849 shares during the last quarter. 69.19% of the stock is currently owned by institutional investors and hedge funds.
Shares of PepsiCo Inc. (NYSE:PEP) traded down 0.24% during midday trading on Tuesday, reaching $102.54. 3,886,799 shares of the company were exchanged. The company has a market capitalization of $147.06 billion, a PE ratio of 22.50 and a beta of 0.54. The stock’s 50-day moving average price is $105.09 and its 200-day moving average price is $105.80. PepsiCo Inc. has a 52-week low of $93.25 and a 52-week high of $110.94.
PepsiCo (NYSE:PEP) last issued its earnings results on Thursday, September 29th. The company reported $1.40 EPS for the quarter, beating the Zacks’ consensus estimate of $1.32 by $0.08. PepsiCo had a net margin of 10.74% and a return on equity of 56.16%. The business had revenue of $16 billion for the quarter. During the same period in the prior year, the business posted $1.35 EPS. The business’s revenue was down 1.9% on a year-over-year basis. Analysts anticipate that PepsiCo Inc. will post $4.81 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 6th. Stockholders of record on Friday, December 2nd will be paid a $0.7525 dividend. This represents a $3.01 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date of this dividend is Wednesday, November 30th. PepsiCo’s dividend payout ratio is presently 66.01%.
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Several analysts have recently commented on the stock. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $118.00 price target on shares of PepsiCo in a research report on Wednesday, August 10th. reaffirmed an “outperform” rating on shares of PepsiCo in a research report on Monday, August 22nd. Zacks Investment Research lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Friday, November 11th. Morgan Stanley reaffirmed an “overweight” rating and set a $121.00 price target on shares of PepsiCo in a research report on Friday, September 30th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $120.00 price target (up previously from $116.00) on shares of PepsiCo in a research report on Friday, September 30th. Eight analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $113.71.
PepsiCo Company Profile
PepsiCo, Inc is a food and beverage company. The Company, through its operations, bottlers, contract manufacturers and other third parties, is engaged in making, marketing, distributing and selling a range of beverages, foods and snacks, serving in over 200 countries and territories. The Company operates through six segments, namely, Frito-Lay North America (FLNA); Quaker Foods North America (QFNA); North America Beverages (NAB); Latin America, which includes its beverage, food and snack businesses in Latin America; Europe Sub-Saharan Africa (ESSA), which includes its beverage, food and snack businesses in Europe and Sub-Saharan Africa, and Asia, Middle East and North Africa (AMENA), which includes its beverage, food and snack businesses in Asia, Middle East and North Africa.
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