West Tower Group LLC Makes New Investment in PepsiCo, Inc. (NASDAQ:PEP)

West Tower Group LLC purchased a new position in shares of PepsiCo, Inc. (NASDAQ:PEP) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,600 shares of the company’s stock, valued at approximately $272,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Global Wealth Strategies & Associates grew its stake in shares of PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after purchasing an additional 59 shares during the last quarter. Highline Wealth Partners LLC acquired a new position in shares of PepsiCo in the 3rd quarter worth approximately $28,000. POM Investment Strategies LLC grew its stake in shares of PepsiCo by 141.3% in the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after purchasing an additional 106 shares during the last quarter. Summit Securities Group LLC acquired a new position in shares of PepsiCo in the 2nd quarter worth approximately $30,000. Finally, Rakuten Securities Inc. grew its stake in shares of PepsiCo by 93.2% in the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after purchasing an additional 96 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Price Performance

NASDAQ PEP opened at $163.05 on Tuesday. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The stock has a market capitalization of $223.70 billion, a PE ratio of 24.05, a price-to-earnings-growth ratio of 3.02 and a beta of 0.53. The company has a 50 day moving average price of $168.73 and a two-hundred day moving average price of $170.78. PepsiCo, Inc. has a 12-month low of $155.85 and a 12-month high of $183.41.

PepsiCo (NASDAQ:PEP) last posted its earnings results 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. The firm had revenue of $23.32 billion during the quarter, compared to analysts’ expectations 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 period in the previous year, the company earned $2.25 earnings per share. As a group, equities analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 6th will be paid a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend is Friday, December 6th. PepsiCo’s dividend payout ratio (DPR) is presently 79.94%.

Wall Street Analysts Forecast Growth

PEP has been the topic of several analyst reports. TD Cowen downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and dropped their target price for the stock from $190.00 to $183.00 in a research report on Thursday, October 10th. Bank of America dropped their target price on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Royal Bank of Canada dropped their target price on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. Finally, Morgan Stanley downgraded shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price on the stock. in a research report on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average 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.