Drucker Wealth 3.0 LLC Raises Position in PepsiCo, Inc. (NASDAQ:PEP)

Drucker Wealth 3.0 LLC lifted its stake in PepsiCo, Inc. (NASDAQ:PEP) by 7.7% in the third quarter, Holdings Channel.com reports. The firm owned 3,508 shares of the company’s stock after buying an additional 250 shares during the period. Drucker Wealth 3.0 LLC’s holdings in PepsiCo were worth $597,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC raised its holdings in shares of PepsiCo by 17,113.0% in the third quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock worth $547,626,000 after buying an additional 3,201,676 shares during the period. State Street Corp grew its position in PepsiCo by 5.1% in the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock valued at $9,738,429,000 after acquiring an additional 2,775,679 shares during the last quarter. Swedbank AB increased its stake in PepsiCo by 211.4% in the third quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock worth $398,847,000 after purchasing an additional 1,592,343 shares during the period. PineStone Asset Management Inc. lifted its position in shares of PepsiCo by 125.2% during the second quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock worth $452,003,000 after purchasing an additional 1,523,631 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of PepsiCo by 5.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock worth $3,632,413,000 after purchasing an additional 1,125,059 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

Shares of PEP opened at $157.79 on Monday. PepsiCo, Inc. has a 12 month low of $155.85 and a 12 month high of $183.41. The stock has a fifty day moving average price of $166.83 and a 200-day moving average price of $169.56. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The firm has a market cap of $216.49 billion, a PE ratio of 23.27, a P/E/G ratio of 2.94 and a beta of 0.52.

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

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 6th will be paid a dividend of $1.355 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.43%. PepsiCo’s payout ratio is currently 79.94%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. TD Cowen cut shares of PepsiCo from a “buy” rating to a “hold” rating and lowered their price objective for the company from $190.00 to $183.00 in a research report on Thursday, October 10th. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a report on Thursday, October 10th. Royal Bank of Canada decreased their target price on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. Bank of America dropped their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Finally, Morgan Stanley lowered shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target for the company. in a report on Friday, September 20th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $183.92.

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.