Pacific Wealth Strategies Group Inc. Buys 192 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Pacific Wealth Strategies Group Inc. raised its stake in PepsiCo, Inc. (NASDAQ:PEP) by 2.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,926 shares of the company’s stock after purchasing an additional 192 shares during the quarter. Pacific Wealth Strategies Group Inc.’s holdings in PepsiCo were worth $1,343,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. OLD Mission Capital LLC acquired a new stake in shares of PepsiCo in the third quarter valued at approximately $256,000. Ironwood Wealth Management LLC. lifted its position in shares of PepsiCo by 38.4% in the first quarter. Ironwood Wealth Management LLC. now owns 1,892 shares of the company’s stock valued at $268,000 after buying an additional 525 shares during the last quarter. Hoylecohen LLC lifted its position in shares of PepsiCo by 52.0% in the first quarter. Hoylecohen LLC now owns 8,624 shares of the company’s stock valued at $1,220,000 after buying an additional 2,952 shares during the last quarter. Sargent Bickham Lagudis LLC lifted its position in shares of PepsiCo by 3.0% in the first quarter. Sargent Bickham Lagudis LLC now owns 5,130 shares of the company’s stock valued at $726,000 after buying an additional 147 shares during the last quarter. Finally, Fragasso Group Inc. lifted its position in shares of PepsiCo by 7.1% in the first quarter. Fragasso Group Inc. now owns 33,766 shares of the company’s stock valued at $4,776,000 after buying an additional 2,250 shares during the last quarter. Hedge funds and other institutional investors own 70.48% of the company’s stock.

In related news, CFO Hugh F. Johnston sold 37,266 shares of the business’s stock in a transaction on Thursday, October 21st. The stock was sold at an average price of $160.30, for a total transaction of $5,973,739.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.14% of the company’s stock.

PEP has been the subject of several research reports. Deutsche Bank Aktiengesellschaft lifted their price target on PepsiCo from $158.00 to $160.00 and gave the stock a “hold” rating in a report on Wednesday, October 6th. UBS Group lifted their price target on PepsiCo from $170.00 to $172.00 and gave the stock a “buy” rating in a report on Wednesday, October 6th. Evercore ISI reissued a “hold” rating and set a $160.00 price target on shares of PepsiCo in a report on Thursday, October 7th. Barclays lifted their price target on PepsiCo from $165.00 to $168.00 and gave the stock an “overweight” rating in a report on Thursday, October 7th. Finally, Zacks Investment Research cut PepsiCo from a “buy” rating to a “hold” rating and set a $164.00 price target for the company. in a report on Monday, August 9th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $162.86.

Shares of PEP traded down $1.51 during midday trading on Thursday, hitting $163.74. The company’s stock had a trading volume of 3,308,040 shares, compared to its average volume of 4,732,310. PepsiCo, Inc. has a one year low of $128.32 and a one year high of $166.80. The company’s fifty day simple moving average is $158.84 and its two-hundred day simple moving average is $154.23. The company has a quick ratio of 0.77, a current ratio of 0.95 and a debt-to-equity ratio of 2.32. The stock has a market capitalization of $226.40 billion, a price-to-earnings ratio of 27.89, a price-to-earnings-growth ratio of 2.97 and a beta of 0.62.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Monday, October 4th. The company reported $1.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.73 by $0.06. PepsiCo had a return on equity of 58.31% and a net margin of 10.62%. The company had revenue of $20.19 billion for the quarter, compared to analyst estimates of $19.39 billion. During the same quarter last year, the company posted $1.66 EPS. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, research analysts predict that PepsiCo, Inc. will post 6.25 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 7th. Stockholders of record on Friday, December 3rd will be paid a $1.075 dividend. The ex-dividend date of this dividend is Thursday, December 2nd. This represents a $4.30 annualized dividend and a dividend yield of 2.63%. PepsiCo’s payout ratio is 73.25%.

About PepsiCo

PepsiCo, Inc engages in the manufacture, marketing, distribution and sale of beverages, food, and snacks. It is a food and beverage company with a complementary portfolio of brands, including Frito-Lay, Gatorade, Pepsi-Cola, Quaker, and Tropicana. It operates through the following business segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; and Africa, Middle East and South Asia The Frito-Lay North America segment markets, distributes, and sells snack foods under the Lay’s, Doritos, Cheetos, Tostitos, Fritos, Ruffles, and Santitas brands.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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