Pinnacle Bancorp Inc. Acquires 367 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Pinnacle Bancorp Inc. increased its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 5.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,667 shares of the company’s stock after acquiring an additional 367 shares during the period. Pinnacle Bancorp Inc.’s holdings in PepsiCo were worth $1,304,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PEP. Meixler Investment Management Ltd. grew its holdings in shares of PepsiCo by 4.4% during the second quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company’s stock worth $228,000 after buying an additional 58 shares in the last quarter. Opes Wealth Management LLC grew its holdings in shares of PepsiCo by 2.2% during the second quarter. Opes Wealth Management LLC now owns 2,748 shares of the company’s stock worth $453,000 after buying an additional 59 shares in the last quarter. Global Wealth Strategies & Associates grew its holdings in shares of 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 in the last quarter. Bank of Stockton grew its holdings in PepsiCo by 2.3% in the second quarter. Bank of Stockton now owns 2,716 shares of the company’s stock valued at $448,000 after purchasing an additional 60 shares during the period. Finally, Oxbow Advisors LLC grew its holdings in PepsiCo by 0.7% in the second quarter. Oxbow Advisors LLC now owns 8,982 shares of the company’s stock valued at $1,481,000 after purchasing an additional 60 shares during the period. 73.07% of the stock is owned by institutional investors.

PepsiCo Price Performance

Shares of PEP opened at $172.99 on Friday. The company has a market capitalization of $237.34 billion, a price-to-earnings ratio of 25.51, a P/E/G ratio of 3.11 and a beta of 0.53. PepsiCo, Inc. has a fifty-two week low of $157.43 and a fifty-two week high of $183.41. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.64. The business’s 50-day moving average is $173.62 and its 200-day moving average is $172.06.

PepsiCo (NASDAQ:PEP) last issued 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. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The company had revenue of $23.32 billion for the quarter, compared to the consensus estimate of $23.86 billion. During the same quarter in the prior year, the company earned $2.25 EPS. The firm’s quarterly revenue was down .6% on a year-over-year basis. Equities research analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 6th were issued a dividend of $1.355 per share. The ex-dividend date was Friday, September 6th. This represents a $5.42 annualized dividend and a yield of 3.13%. PepsiCo’s dividend payout ratio (DPR) is presently 79.94%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports 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. JPMorgan Chase & Co. reduced their price target on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research report on Wednesday. Wells Fargo & Company reduced their price target on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. BNP Paribas started coverage on shares of PepsiCo in a research report on Monday, June 24th. They set a “neutral” rating and a $174.00 price target on the stock. Finally, Royal Bank of Canada reduced their price target on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, PepsiCo has an average rating of “Hold” and an average target price of $184.07.

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.