Shum Financial Group Inc. Takes $621,000 Position in PepsiCo, Inc. $PEP

Shum Financial Group Inc. bought a new stake in PepsiCo, Inc. (NASDAQ:PEP) in the third quarter, Holdings Channel reports. The fund bought 4,421 shares of the company’s stock, valued at approximately $621,000.

A number of other institutional investors also recently made changes to their positions in the stock. JSF Financial LLC raised its holdings in PepsiCo by 3.8% during the second quarter. JSF Financial LLC now owns 1,897 shares of the company’s stock worth $250,000 after purchasing an additional 69 shares in the last quarter. Binnacle Investments Inc raised its stake in shares of PepsiCo by 33.2% in the 2nd quarter. Binnacle Investments Inc now owns 285 shares of the company’s stock worth $38,000 after buying an additional 71 shares in the last quarter. Dogwood Wealth Management LLC raised its stake in shares of PepsiCo by 15.4% in the 2nd quarter. Dogwood Wealth Management LLC now owns 539 shares of the company’s stock worth $73,000 after buying an additional 72 shares in the last quarter. Weaver Consulting Group boosted its stake in PepsiCo by 2.9% during the second quarter. Weaver Consulting Group now owns 2,581 shares of the company’s stock valued at $341,000 after buying an additional 72 shares in the last quarter. Finally, Joel Isaacson & Co. LLC raised its position in PepsiCo by 0.5% in the second quarter. Joel Isaacson & Co. LLC now owns 16,507 shares of the company’s stock worth $2,180,000 after acquiring an additional 74 shares in the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Price Performance

NASDAQ PEP opened at $144.16 on Wednesday. The company has a 50 day moving average price of $146.91 and a two-hundred day moving average price of $143.68. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $160.15. The stock has a market capitalization of $197.12 billion, a PE ratio of 27.41, a price-to-earnings-growth ratio of 4.98 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 issued its quarterly earnings data on Wednesday, October 8th. The company reported $2.29 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $23.94 billion during the quarter, compared to analysts’ expectations of $23.91 billion. During the same period in the prior year, the company posted $2.31 earnings per share. PepsiCo’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, equities analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Friday, December 5th will be given a dividend of $1.4225 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $5.69 dividend on an annualized basis and a yield of 3.9%. PepsiCo’s dividend payout ratio is presently 108.17%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Barclays raised their price objective on shares of PepsiCo from $142.00 to $144.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 10th. Wells Fargo & Company raised their target price on shares of PepsiCo from $150.00 to $154.00 and gave the stock a “positive” rating in a report on Friday, October 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PepsiCo in a report on Tuesday, October 14th. DZ Bank raised PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 price objective for the company in a research note on Tuesday, October 21st. Finally, UBS Group reaffirmed a “buy” rating and set a $172.00 target price on shares of PepsiCo in a research report on Tuesday, December 9th. Eight analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, PepsiCo has an average rating of “Hold” and a consensus target price of $158.75.

PepsiCo Profile

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.