Safe Harbor Fiduciary LLC Acquires New Shares in PepsiCo, Inc. (NASDAQ:PEP)

Safe Harbor Fiduciary LLC purchased a new position in shares of PepsiCo, Inc. (NASDAQ:PEP) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,802 shares of the company’s stock, valued at approximately $306,000.

Several other hedge funds also recently bought and sold shares of PEP. Global Wealth Strategies & Associates grew its position in shares of PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares during the period. Highline Wealth Partners LLC purchased a new stake in shares of PepsiCo in the third quarter valued at $28,000. POM Investment Strategies LLC grew its position in shares of PepsiCo by 141.3% in the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after purchasing an additional 106 shares during the period. Summit Securities Group LLC purchased a new stake in shares of PepsiCo in the second quarter valued at $30,000. Finally, Mattson Financial Services LLC purchased a new stake in shares of PepsiCo in the second quarter valued at $34,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Down 0.9 %

NASDAQ PEP opened at $160.18 on Thursday. The company has a market capitalization of $219.77 billion, a PE ratio of 23.63, a price-to-earnings-growth ratio of 3.01 and a beta of 0.52. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a 1-year low of $155.85 and a 1-year high of $183.41. The firm’s fifty day simple moving average is $167.26 and its 200-day simple moving average is $169.94.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. The firm had revenue of $23.32 billion during the quarter, compared to analysts’ expectations of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter last year, the company earned $2.25 earnings per share. As a group, sell-side analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 6th will be paid a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date is Friday, December 6th. PepsiCo’s dividend payout ratio (DPR) is currently 79.94%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on PEP shares. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. dropped their target price on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Barclays lowered their price objective on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Finally, Redburn Atlantic raised PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, PepsiCo currently has an average rating of “Hold” and an average target price of $183.92.

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.