Montecito Bank & Trust Purchases New Position in PepsiCo, Inc. $PEP

Montecito Bank & Trust acquired a new stake in shares of PepsiCo, Inc. (NASDAQ:PEP) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 9,987 shares of the company’s stock, valued at approximately $1,403,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PEP. Vanguard Group Inc. raised its stake in PepsiCo by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 136,936,037 shares of the company’s stock worth $18,081,034,000 after buying an additional 1,761,785 shares during the period. State Street Corp increased its holdings in shares of PepsiCo by 1.6% in the second quarter. State Street Corp now owns 58,419,849 shares of the company’s stock worth $7,713,757,000 after acquiring an additional 920,045 shares in the last quarter. Geode Capital Management LLC raised its position in shares of PepsiCo by 0.3% during the second quarter. Geode Capital Management LLC now owns 32,675,492 shares of the company’s stock worth $4,301,240,000 after purchasing an additional 86,695 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of PepsiCo by 9.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 29,031,404 shares of the company’s stock valued at $3,833,406,000 after purchasing an additional 2,556,163 shares during the period. Finally, Norges Bank bought a new stake in PepsiCo during the 2nd quarter worth approximately $2,330,594,000. 73.07% of the stock is owned by institutional investors.

PepsiCo Stock Performance

Shares of NASDAQ PEP opened at $150.08 on Thursday. 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 50 day moving average price of $147.94 and a 200 day moving average price of $142.69. The stock has a market capitalization of $205.21 billion, a PE ratio of 28.53, a price-to-earnings-growth ratio of 5.19 and a beta of 0.42. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $160.15.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Wednesday, October 8th. The company reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.03. The company had revenue of $23.94 billion for the quarter, compared to analysts’ expectations of $23.91 billion. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.During the same quarter in the prior year, the business posted $2.31 EPS. The business’s revenue was up 2.7% compared to the same quarter last year. Analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

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

Wall Street Analysts Forecast Growth

PEP has been the subject of several research reports. Loop Capital set a $164.00 price objective on shares of PepsiCo in a research report on Thursday, October 23rd. Barclays increased their target price on PepsiCo from $142.00 to $144.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 10th. Rothschild & Co Redburn boosted their price target on PepsiCo from $117.00 to $120.00 and gave the company a “sell” rating in a report on Monday. Citigroup increased their price objective on PepsiCo from $165.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Wells Fargo & Company boosted their target price on PepsiCo from $150.00 to $154.00 and gave the company a “positive” rating in a research note on Friday, October 10th. Eight research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $158.75.

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.