Sanders Morris Harris LLC Buys Shares of 3,860 PepsiCo, Inc. $PEP

Sanders Morris Harris LLC purchased a new position in shares of PepsiCo, Inc. (NASDAQ:PEP) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 3,860 shares of the company’s stock, valued at approximately $542,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of PepsiCo in the 2nd quarter worth approximately $2,330,594,000. Laurel Wealth Advisors LLC increased its position in shares of PepsiCo by 14,420.2% in the second quarter. Laurel Wealth Advisors LLC now owns 3,890,688 shares of the company’s stock valued at $513,726,000 after buying an additional 3,863,893 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in PepsiCo in the 2nd quarter valued at about $460,110,000. Charles Schwab Investment Management Inc. increased its holdings in PepsiCo by 9.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 29,031,404 shares of the company’s stock valued at $3,833,406,000 after acquiring an additional 2,556,163 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in PepsiCo by 19.5% during the second quarter. Franklin Resources Inc. now owns 15,577,073 shares of the company’s stock worth $2,056,797,000 after acquiring an additional 2,541,455 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on PEP shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PepsiCo in a research note on Tuesday, October 14th. The Goldman Sachs Group lifted their price target on shares of PepsiCo from $165.00 to $167.00 and gave the stock a “buy” rating in a report on Friday, October 10th. BNP Paribas Exane reduced their price objective on shares of PepsiCo from $152.00 to $150.00 and set a “neutral” rating on the stock in a research note on Monday, October 6th. JPMorgan Chase & Co. raised shares of PepsiCo from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $151.00 to $164.00 in a research note on Wednesday, December 10th. Finally, UBS Group reissued a “buy” rating and set a $172.00 price target on shares of PepsiCo in a research note on Tuesday, December 9th. Eight 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. According to MarketBeat, PepsiCo has a consensus rating of “Hold” and an average target price of $158.75.

PepsiCo Stock Down 0.2%

Shares of PEP opened at $150.08 on Thursday. PepsiCo, Inc. has a fifty-two week low of $127.60 and a fifty-two week high of $160.15. The company’s fifty day moving average is $147.94 and its two-hundred day moving average is $142.69. The firm has a market cap of $205.21 billion, a PE ratio of 28.53, a price-to-earnings-growth ratio of 5.19 and a beta of 0.42. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26.

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

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Friday, December 5th will be given a dividend of $1.4225 per share. This represents a $5.69 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Friday, December 5th. PepsiCo’s dividend payout ratio is 108.17%.

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.