Martin Capital Partners LLC Increases Position in PepsiCo, Inc. $PEP

Martin Capital Partners LLC boosted its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 76.3% during the third quarter, HoldingsChannel.com reports. The firm owned 39,204 shares of the company’s stock after purchasing an additional 16,962 shares during the period. PepsiCo makes up approximately 2.1% of Martin Capital Partners LLC’s holdings, making the stock its 26th largest holding. Martin Capital Partners LLC’s holdings in PepsiCo were worth $5,506,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank purchased a new stake in PepsiCo in the 2nd quarter worth $2,330,594,000. Laurel Wealth Advisors LLC raised its position in shares of PepsiCo by 14,420.2% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 3,890,688 shares of the company’s stock worth $513,726,000 after purchasing an additional 3,863,893 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in PepsiCo in the 2nd quarter worth about $460,110,000. Charles Schwab Investment Management Inc. increased its stake in PepsiCo by 9.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 29,031,404 shares of the company’s stock worth $3,833,406,000 after buying an additional 2,556,163 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of PepsiCo by 19.5% during the second quarter. Franklin Resources Inc. now owns 15,577,073 shares of the company’s stock valued at $2,056,797,000 after acquiring an additional 2,541,455 shares during the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Trading Up 0.4%

PEP opened at $151.22 on Tuesday. The business’s 50 day moving average price is $147.53 and its 200 day moving average price is $142.51. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.72 and a current ratio of 0.91. The stock has a market capitalization of $206.77 billion, a PE ratio of 28.75, a P/E/G ratio of 5.20 and a beta of 0.42. PepsiCo, Inc. has a one year low of $127.60 and a one year high of $160.15.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Wednesday, October 8th. The company reported $2.29 EPS for the quarter, beating the consensus estimate of $2.26 by $0.03. The business had revenue of $23.94 billion for the quarter, compared to analyst estimates of $23.91 billion. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.31 EPS. As a group, equities research analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Friday, December 5th will be paid a $1.4225 dividend. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Friday, December 5th. PepsiCo’s payout ratio is 108.17%.

Analysts Set New Price Targets

Several analysts recently commented on PEP shares. Piper Sandler boosted their price target on PepsiCo from $161.00 to $172.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 9th. JPMorgan Chase & Co. raised shares of PepsiCo from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $151.00 to $164.00 in a report on Wednesday, December 10th. Rothschild & Co Redburn raised their price target on shares of PepsiCo from $117.00 to $120.00 and gave the stock a “sell” rating in a research note on Monday. Evercore ISI boosted their price target on shares of PepsiCo from $150.00 to $152.00 in a research report on Friday, October 10th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of PepsiCo in a report on Tuesday, October 14th. Eight equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $158.50.

About PepsiCo

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.