NorthCrest Asset Manangement LLC Acquires 9,071 Shares of PepsiCo, Inc. $PEP

NorthCrest Asset Manangement LLC raised its position in PepsiCo, Inc. (NASDAQ:PEP) by 6.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 145,900 shares of the company’s stock after buying an additional 9,071 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in PepsiCo were worth $20,541,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of PepsiCo in the 2nd quarter worth approximately $2,330,594,000. Laurel Wealth Advisors LLC lifted its stake in PepsiCo by 14,420.2% in the second 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. Charles Schwab Investment Management Inc. grew its stake in shares of PepsiCo by 9.7% during the second quarter. Charles Schwab Investment Management Inc. now owns 29,031,404 shares of the company’s stock valued at $3,833,406,000 after buying an additional 2,556,163 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of PepsiCo by 19.5% in the second quarter. Franklin Resources Inc. now owns 15,577,073 shares of the company’s stock worth $2,056,797,000 after buying an additional 2,541,455 shares during the period. Finally, First Trust Advisors LP lifted its stake in shares of PepsiCo by 112.6% in the 2nd quarter. First Trust Advisors LP now owns 4,040,079 shares of the company’s stock valued at $533,452,000 after acquiring an additional 2,139,847 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Citigroup boosted their price target on PepsiCo from $165.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, December 17th. Loop Capital set a $164.00 price objective on shares of PepsiCo in a report on Thursday, October 23rd. JPMorgan Chase & Co. upgraded shares of PepsiCo from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $151.00 to $164.00 in a research report on Wednesday, December 10th. HSBC lifted their price objective on PepsiCo from $145.00 to $152.00 and gave the company a “hold” rating in a research report on Friday, October 10th. Finally, Evercore ISI increased their price objective on PepsiCo from $150.00 to $152.00 in a report on Friday, October 10th. Ten equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $161.32.

PepsiCo Stock Performance

NASDAQ:PEP opened at $146.32 on Monday. The stock has a 50-day moving average price of $145.62 and a 200 day moving average price of $144.73. The stock has a market capitalization of $200.07 billion, a P/E ratio of 27.82, a P/E/G ratio of 4.79 and a beta of 0.42. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $160.15. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26.

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Shareholders of record on Friday, December 5th were paid a $1.4225 dividend. This represents a $5.69 annualized dividend and a yield of 3.9%. The ex-dividend date was Friday, December 5th. PepsiCo’s payout ratio is 108.17%.

PepsiCo Company Profile

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.