37,602 Shares in PepsiCo, Inc. $PEP Acquired by Shorepoint Capital Partners LLC

Shorepoint Capital Partners LLC acquired a new stake in PepsiCo, Inc. (NASDAQ:PEP) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 37,602 shares of the company’s stock, valued at approximately $5,281,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of PepsiCo by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 136,936,037 shares of the company’s stock valued at $18,081,034,000 after acquiring an additional 1,761,785 shares during the last quarter. State Street Corp boosted its stake in PepsiCo by 1.6% in the 2nd quarter. State Street Corp now owns 58,419,849 shares of the company’s stock worth $7,713,757,000 after purchasing an additional 920,045 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of PepsiCo by 0.3% in the second quarter. Geode Capital Management LLC now owns 32,675,492 shares of the company’s stock worth $4,301,240,000 after purchasing an additional 86,695 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in PepsiCo by 9.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 29,031,404 shares of the company’s stock worth $3,833,406,000 after purchasing an additional 2,556,163 shares during the last quarter. Finally, Norges Bank bought a new position in PepsiCo in the second quarter valued at about $2,330,594,000. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

Shares of PEP opened at $151.22 on Tuesday. The stock has a 50-day moving average of $147.53 and a two-hundred day moving average of $142.51. The stock has a market cap of $206.77 billion, a P/E ratio of 28.75, a P/E/G ratio of 5.20 and a beta of 0.42. PepsiCo, Inc. has a one year low of $127.60 and a one year high of $160.15. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.72 and a current ratio of 0.91.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Wednesday, October 8th. The company reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.03. PepsiCo had a net margin of 7.82% and a return on equity of 57.58%. The company had revenue of $23.94 billion during the quarter, compared to the consensus estimate of $23.91 billion. During the same period in the previous year, the firm posted $2.31 earnings per share. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. As a group, research analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Friday, December 5th will be given a $1.4225 dividend. This represents a $5.69 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Friday, December 5th. PepsiCo’s dividend payout ratio (DPR) is 108.17%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PEP shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PepsiCo in a research note on Tuesday, October 14th. Bank of America increased their price target on PepsiCo from $150.00 to $155.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. Wall Street Zen raised shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Saturday. Rothschild & Co Redburn boosted their price objective on shares of PepsiCo from $117.00 to $120.00 and gave the company a “sell” rating in a research report on Monday. Finally, Loop Capital set a $164.00 price target on PepsiCo in a report on Thursday, October 23rd. Eight research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $158.50.

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.