SevenBridge Financial Group LLC Buys 1,872 Shares of PepsiCo, Inc. (NASDAQ:PEP)

SevenBridge Financial Group LLC lifted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 4.0% during the third quarter, HoldingsChannel.com reports. The fund owned 48,215 shares of the company’s stock after buying an additional 1,872 shares during the quarter. PepsiCo makes up approximately 1.4% of SevenBridge Financial Group LLC’s investment portfolio, making the stock its 12th biggest holding. SevenBridge Financial Group LLC’s holdings in PepsiCo were worth $7,920,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of PEP. Meixler Investment Management Ltd. increased its holdings in shares of PepsiCo by 4.4% in the second quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company’s stock valued at $228,000 after purchasing an additional 58 shares during the period. Opes Wealth Management LLC increased its stake in PepsiCo by 2.2% in the 2nd quarter. Opes Wealth Management LLC now owns 2,748 shares of the company’s stock valued at $453,000 after buying an additional 59 shares during the period. Global Wealth Strategies & Associates raised its position in PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after buying an additional 59 shares during the last quarter. Bank of Stockton lifted its stake in shares of PepsiCo by 2.3% in the 2nd quarter. Bank of Stockton now owns 2,716 shares of the company’s stock worth $448,000 after acquiring an additional 60 shares during the period. Finally, Oxbow Advisors LLC boosted its holdings in shares of 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 acquiring an additional 60 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

PEP has been the subject of several analyst reports. Barclays cut their price target on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Royal Bank of Canada reduced their price target on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft reduced their target price on PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a report on Wednesday, October 9th. Finally, Morgan Stanley cut shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target on the stock. in a research note on Friday, September 20th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $183.92.

PepsiCo Stock Performance

NASDAQ:PEP opened at $162.00 on Friday. PepsiCo, Inc. has a twelve month low of $155.85 and a twelve month high of $183.41. The company has a market capitalization of $222.26 billion, a P/E ratio of 23.89, a price-to-earnings-growth ratio of 2.99 and a beta of 0.53. 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 50-day moving average price of $169.01 and a two-hundred day moving average price of $170.94.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.01. The firm had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.25 EPS. As a group, research analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 6th will be paid a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date is Friday, December 6th. PepsiCo’s payout ratio is currently 79.94%.

About PepsiCo

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.