Boston Family Office LLC Has $10.15 Million Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Boston Family Office LLC increased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 59,659 shares of the company’s stock after buying an additional 753 shares during the period. Boston Family Office LLC’s holdings in PepsiCo were worth $10,145,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in PEP. Empowered Funds LLC lifted its position in shares of PepsiCo by 9.2% in the 3rd quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock worth $16,968,000 after purchasing an additional 8,406 shares during the period. Meridian Wealth Management LLC bought a new stake in PepsiCo during the 3rd quarter valued at $9,589,000. M&G Plc increased its stake in PepsiCo by 3.6% during the 2nd quarter. M&G Plc now owns 426,269 shares of the company’s stock valued at $70,334,000 after purchasing an additional 14,724 shares in the last quarter. Pinnacle Financial Partners Inc boosted its holdings in PepsiCo by 3.5% during the 3rd quarter. Pinnacle Financial Partners Inc now owns 135,331 shares of the company’s stock worth $23,013,000 after acquiring an additional 4,547 shares during the last quarter. Finally, Fiduciary Family Office LLC boosted its holdings in PepsiCo by 119.6% during the 3rd quarter. Fiduciary Family Office LLC now owns 6,843 shares of the company’s stock worth $1,164,000 after acquiring an additional 3,727 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Stock Performance

NASDAQ:PEP opened at $162.00 on Monday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. PepsiCo, Inc. has a 1-year low of $155.85 and a 1-year high of $183.41. The business has a 50 day moving average of $169.01 and a 200 day moving average of $170.89. The company has a market capitalization of $222.26 billion, a price-to-earnings ratio of 23.89, a PEG ratio of 3.02 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.01. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The firm had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. During the same quarter in the previous year, the company posted $2.25 earnings per share. The business’s revenue was down .6% on a year-over-year basis. On average, sell-side analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The firm 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 dividend of $1.355 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.35%. PepsiCo’s dividend payout ratio (DPR) is presently 79.94%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on PEP shares. Deutsche Bank Aktiengesellschaft cut their price target on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a report on Wednesday, October 9th. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Royal Bank of Canada lowered 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. TD Cowen cut PepsiCo from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $190.00 to $183.00 in a report on Thursday, October 10th. Finally, Morgan Stanley downgraded shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target for the company. in a report on Friday, September 20th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target 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.