Wesbanco Bank Inc. Grows Position in PepsiCo, Inc. (NASDAQ:PEP)

Wesbanco Bank Inc. grew its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 1.2% during the 3rd quarter, Holdings Channel reports. The fund owned 152,685 shares of the company’s stock after purchasing an additional 1,877 shares during the period. PepsiCo makes up about 0.9% of Wesbanco Bank Inc.’s holdings, making the stock its 21st largest holding. Wesbanco Bank Inc.’s holdings in PepsiCo were worth $25,964,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Scarborough Advisors LLC acquired a new position in shares of PepsiCo in the 4th quarter valued at $103,000. Leo Wealth LLC acquired a new position in shares of PepsiCo in the 4th quarter valued at $588,000. General Partner Inc. lifted its stake in shares of PepsiCo by 39.4% in the 1st quarter. General Partner Inc. now owns 5,543 shares of the company’s stock valued at $970,000 after purchasing an additional 1,568 shares during the period. Confluence Investment Management LLC acquired a new position in shares of PepsiCo in the 1st quarter valued at $166,243,000. Finally, Canandaigua National Bank & Trust Co. lifted its stake in shares of PepsiCo by 1.8% in the 1st quarter. Canandaigua National Bank & Trust Co. now owns 69,395 shares of the company’s stock valued at $12,145,000 after purchasing an additional 1,260 shares during the period. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Price Performance

Shares of NASDAQ PEP opened at $176.10 on Tuesday. The firm has a 50-day simple moving average of $173.56 and a 200-day simple moving average of $172.08. The stock has a market capitalization of $242.10 billion, a price-to-earnings ratio of 25.56, a price-to-earnings-growth ratio of 3.11 and a beta of 0.53. The company has a quick ratio of 0.64, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a 52 week low of $158.03 and a 52 week high of $183.41.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The firm had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. During the same quarter in the prior year, the firm posted $2.25 earnings per share. PepsiCo’s quarterly revenue was down .6% on a year-over-year basis. On average, equities analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 6th were issued a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend was Friday, September 6th. PepsiCo’s dividend payout ratio is currently 78.66%.

Analyst Ratings Changes

Several equities analysts recently issued reports on PEP shares. Wells Fargo & Company decreased their target price on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Barclays decreased their target price on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. TD Cowen cut shares of PepsiCo from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $190.00 to $183.00 in a research report on Thursday, October 10th. BNP Paribas started coverage on shares of PepsiCo in a research report on Monday, June 24th. They set a “neutral” rating and a $174.00 price objective for the company. Finally, Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company 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.