Sunpointe LLC Buys 435 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Sunpointe LLC raised its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 33.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,721 shares of the company’s stock after purchasing an additional 435 shares during the period. Sunpointe LLC’s holdings in PepsiCo were worth $293,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in PEP. Capital Advisors Ltd. LLC raised its position in shares of PepsiCo by 3.6% during the 1st quarter. Capital Advisors Ltd. LLC now owns 3,961 shares of the company’s stock valued at $693,000 after buying an additional 139 shares in the last quarter. Norden Group LLC raised its position in shares of PepsiCo by 3,345.6% during the 1st quarter. Norden Group LLC now owns 179,377 shares of the company’s stock valued at $31,391,000 after buying an additional 174,171 shares in the last quarter. Marion Wealth Management raised its position in shares of PepsiCo by 6.3% during the 1st quarter. Marion Wealth Management now owns 8,382 shares of the company’s stock valued at $1,467,000 after buying an additional 494 shares in the last quarter. Meyer Handelman Co. raised its position in shares of PepsiCo by 3.9% during the 1st quarter. Meyer Handelman Co. now owns 253,769 shares of the company’s stock valued at $44,412,000 after buying an additional 9,465 shares in the last quarter. Finally, Global Assets Advisory LLC purchased a new stake in shares of PepsiCo during the 1st quarter valued at about $28,366,000. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

Shares of PepsiCo stock traded down $1.19 during trading on Wednesday, hitting $174.71. 207,382 shares of the company’s stock were exchanged, compared to its average volume of 5,480,546. 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 business has a 50-day simple moving average of $173.63 and a 200-day simple moving average of $172.08. PepsiCo, Inc. has a 52-week low of $158.03 and a 52-week high of $183.41. The stock has a market capitalization of $240.19 billion, a price-to-earnings ratio of 25.53, 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 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $23.86 billion. During the same quarter last year, the company posted $2.25 earnings per share. The firm’s revenue was down .6% compared to the same quarter last year. On average, research analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Announces Dividend

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

Analysts Set New Price Targets

PEP has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft decreased their target price on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research report on Wednesday, October 9th. Barclays reduced their price objective on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. BNP Paribas began coverage on shares of PepsiCo in a research note on Monday, June 24th. They issued a “neutral” rating and a $174.00 target price on the stock. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. Finally, JPMorgan Chase & Co. dropped their target price on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, PepsiCo currently has a consensus rating of “Hold” and a consensus price target 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.