Boomfish Wealth Group LLC Increases Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Boomfish Wealth Group LLC boosted its stake in PepsiCo, Inc. (NASDAQ:PEP) by 6.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,450 shares of the company’s stock after purchasing an additional 476 shares during the quarter. Boomfish Wealth Group LLC’s holdings in PepsiCo were worth $1,437,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Global Wealth Strategies & Associates increased its position in PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after acquiring an additional 59 shares during the last quarter. Valued Wealth Advisors LLC lifted its holdings in PepsiCo by 77.5% during the 1st quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock valued at $28,000 after buying an additional 69 shares in the last quarter. POM Investment Strategies LLC raised its stake in shares of PepsiCo by 141.3% during the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after acquiring an additional 106 shares in the last quarter. Summit Securities Group LLC bought a new position in PepsiCo in the second quarter worth approximately $30,000. Finally, Mattson Financial Services LLC purchased a new position in PepsiCo during the 2nd quarter worth $34,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on PEP shares. JPMorgan Chase & Co. lowered their target price on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. BNP Paribas assumed coverage on shares of PepsiCo in a report on Monday, June 24th. They set a “neutral” rating and a $174.00 price objective on the stock. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. TD Cowen downgraded PepsiCo from a “buy” rating to a “hold” rating and cut their price target for the company from $190.00 to $183.00 in a report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $183.92.

PepsiCo Stock Up 0.7 %

NASDAQ:PEP opened at $176.10 on Tuesday. The company has a current ratio of 0.89, a quick ratio of 0.64 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a twelve month low of $158.03 and a twelve month high of $183.41. The company has a market cap of $242.10 billion, a PE ratio of 25.56, a P/E/G ratio of 3.11 and a beta of 0.53. The company’s 50 day moving average is $173.56 and its two-hundred day moving average is $172.08.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.01. The firm had revenue of $23.32 billion for the quarter, compared to the consensus estimate of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The firm’s revenue was down .6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.25 EPS. Analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Dividend Announcement

The company 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. 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 (DPR) is 78.66%.

PepsiCo 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.