49 Wealth Management LLC Buys New Shares in PepsiCo, Inc. (NASDAQ:PEP)

49 Wealth Management LLC bought a new stake in shares of PepsiCo, Inc. (NASDAQ:PEP) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 1,523 shares of the company’s stock, valued at approximately $259,000.

A number of other institutional investors also recently modified their holdings of the stock. Global Wealth Strategies & Associates raised its holdings in PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after buying an additional 59 shares during the last quarter. Highline Wealth Partners LLC purchased a new stake in shares of PepsiCo in the third quarter valued at about $28,000. POM Investment Strategies LLC raised its holdings in shares of PepsiCo by 141.3% in the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after purchasing an additional 106 shares during the last quarter. Summit Securities Group LLC purchased a new stake in shares of PepsiCo in the second quarter valued at about $30,000. Finally, Rakuten Securities Inc. raised its holdings in shares of PepsiCo by 93.2% in the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after purchasing an additional 96 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. TD Cowen downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and lowered their target price for the company from $190.00 to $183.00 in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a report on Wednesday, October 9th. JPMorgan Chase & Co. reduced their price target on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Finally, Barclays reduced their price target on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, PepsiCo currently has an average rating of “Hold” and a consensus price target of $183.92.

PepsiCo Price Performance

Shares of NASDAQ:PEP opened at $162.00 on Friday. The company has a 50-day moving average price of $169.01 and a two-hundred day moving average price of $170.98. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a twelve month low of $155.85 and a twelve month high of $183.41. The firm has a market capitalization of $222.26 billion, a PE ratio of 23.89, a P/E/G ratio of 2.99 and a beta of 0.53.

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

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Investors 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 3.35%. The ex-dividend date is Friday, December 6th. PepsiCo’s dividend payout ratio is currently 79.94%.

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.