PepsiCo, Inc. $PEP Shares Purchased by Focus Partners Wealth

Focus Partners Wealth raised its stake in PepsiCo, Inc. (NASDAQ:PEP) by 3.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,165,159 shares of the company’s stock after acquiring an additional 41,253 shares during the period. Focus Partners Wealth’s holdings in PepsiCo were worth $163,657,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Clayton Financial Group LLC bought a new position in shares of PepsiCo during the third quarter worth about $872,000. Avantax Advisory Services Inc. lifted its position in PepsiCo by 2.6% in the 2nd quarter. Avantax Advisory Services Inc. now owns 185,961 shares of the company’s stock valued at $24,554,000 after purchasing an additional 4,627 shares during the last quarter. Kathmere Capital Management LLC boosted its stake in PepsiCo by 122.6% during the 3rd quarter. Kathmere Capital Management LLC now owns 20,365 shares of the company’s stock valued at $2,860,000 after purchasing an additional 11,217 shares during the period. Invesco Ltd. grew its position in PepsiCo by 11.7% in the 2nd quarter. Invesco Ltd. now owns 12,659,046 shares of the company’s stock worth $1,671,500,000 after purchasing an additional 1,330,888 shares during the last quarter. Finally, Mediolanum International Funds Ltd increased its stake in shares of PepsiCo by 19.3% in the third quarter. Mediolanum International Funds Ltd now owns 252,916 shares of the company’s stock valued at $35,451,000 after purchasing an additional 40,947 shares during the period. Institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

PEP has been the subject of several analyst reports. Barclays boosted their price objective on PepsiCo from $148.00 to $160.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 4th. Royal Bank Of Canada lifted their target price on PepsiCo from $156.00 to $165.00 and gave the company a “sector perform” rating in a research note on Monday, March 2nd. Wells Fargo & Company boosted their price target on PepsiCo from $154.00 to $165.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 4th. Rothschild & Co Redburn raised their price target on PepsiCo from $120.00 to $130.00 and gave the company a “sell” rating in a report on Tuesday, February 10th. Finally, Evercore lifted their price objective on shares of PepsiCo from $152.00 to $165.00 in a research note on Wednesday, February 4th. Eight equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, PepsiCo presently has an average rating of “Hold” and a consensus price target of $169.00.

PepsiCo Stock Performance

PEP opened at $159.88 on Monday. The business has a 50 day moving average price of $156.71 and a two-hundred day moving average price of $149.71. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.85 and a quick ratio of 0.67. The company has a market capitalization of $218.50 billion, a price-to-earnings ratio of 26.65, a price-to-earnings-growth ratio of 3.07 and a beta of 0.39. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $171.48.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Monday, February 2nd. The company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.24 by $0.02. PepsiCo had a return on equity of 57.92% and a net margin of 8.77%.The company had revenue of $29.34 billion for the quarter, compared to analysts’ expectations of $28.96 billion. During the same period last year, the firm earned $1.96 EPS. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. Research analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be given a $1.4225 dividend. The ex-dividend date is Friday, March 6th. This represents a $5.69 annualized dividend and a yield of 3.6%. PepsiCo’s payout ratio is 94.83%.

PepsiCo declared that its Board of Directors has initiated a stock buyback program on Tuesday, February 3rd that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 4.7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

About PepsiCo

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.