PepsiCo, Inc. (NASDAQ:PEP) Shares Bought by McGuire Investment Group LLC

McGuire Investment Group LLC grew its position in PepsiCo, Inc. (NASDAQ:PEP) by 4.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,213 shares of the company’s stock after purchasing an additional 104 shares during the quarter. McGuire Investment Group LLC’s holdings in PepsiCo were worth $376,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of PEP. McGlone Suttner Wealth Management Inc. lifted its stake in shares of PepsiCo by 35.2% in the third quarter. McGlone Suttner Wealth Management Inc. now owns 7,252 shares of the company’s stock valued at $1,233,000 after purchasing an additional 1,889 shares during the period. Koshinski Asset Management Inc. boosted its stake in PepsiCo by 2.2% during the 3rd quarter. Koshinski Asset Management Inc. now owns 22,710 shares of the company’s stock valued at $3,862,000 after acquiring an additional 486 shares during the last quarter. McCarthy & Cox bought a new position in shares of PepsiCo in the 3rd quarter worth about $241,000. Exchange Bank lifted its position in shares of PepsiCo by 7.5% in the 3rd quarter. Exchange Bank now owns 5,855 shares of the company’s stock worth $996,000 after buying an additional 410 shares during the last quarter. Finally, Renaissance Investment Group LLC lifted its position in PepsiCo by 0.3% in the 3rd quarter. Renaissance Investment Group LLC now owns 51,270 shares of the company’s stock valued at $8,718,000 after purchasing an additional 168 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Stock Up 1.1 %

Shares of PepsiCo stock traded up $1.82 during trading hours on Friday, reaching $174.81. 4,720,299 shares of the company were exchanged, compared to its average volume of 5,510,471. PepsiCo, Inc. has a 1 year low of $157.43 and a 1 year high of $183.41. The stock’s fifty day moving average is $173.52 and its 200 day moving average is $172.08. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.64 and a current ratio of 0.89. The firm has a market cap of $240.33 billion, a PE ratio of 25.37, a PEG ratio of 3.11 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. The firm had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The company’s revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.25 earnings per share. As a group, equities research analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 6th were issued a $1.355 dividend. The ex-dividend date was Friday, September 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.10%. PepsiCo’s payout ratio is 78.66%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on PEP shares. Jefferies Financial Group reduced their target price on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. DZ Bank cut PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective for the company. in a report on Friday, July 19th. Barclays reduced their price target on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research report on Thursday. TD Cowen cut PepsiCo from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $190.00 to $183.00 in a research report on Thursday. Finally, Bank of America decreased their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, PepsiCo presently has an average rating of “Hold” and a consensus target price of $183.92.

PepsiCo Company Profile

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.