Fmr LLC Has $1.14 Billion Position in PepsiCo, Inc. (NASDAQ:PEP)

Fmr LLC grew its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 4.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,724,464 shares of the company’s stock after acquiring an additional 281,318 shares during the period. Fmr LLC owned 0.49% of PepsiCo worth $1,143,495,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Global Wealth Strategies & Associates grew its holdings in PepsiCo by 59.0% during 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 last quarter. Highline Wealth Partners LLC acquired a new position in PepsiCo in the 3rd quarter valued at $28,000. POM Investment Strategies LLC lifted its position in PepsiCo by 141.3% during the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after acquiring an additional 106 shares during the last quarter. Summit Securities Group LLC bought a new stake in PepsiCo during the second quarter valued at about $30,000. Finally, Rakuten Securities Inc. grew its position in shares of PepsiCo by 93.2% in the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after purchasing an additional 96 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

PepsiCo stock opened at $162.72 on Thursday. PepsiCo, Inc. has a 52-week low of $155.85 and a 52-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 0.70. The stock has a fifty day moving average price of $168.18 and a two-hundred day moving average price of $170.60. The firm has a market capitalization of $223.25 billion, a P/E ratio of 24.00, a P/E/G ratio of 3.04 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. The firm had revenue of $23.32 billion for the quarter, compared to analyst estimates 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 period in the previous year, the business earned $2.25 earnings per share. As a group, analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 6th will be given a $1.355 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $5.42 annualized dividend and a yield of 3.33%. PepsiCo’s payout ratio is 79.94%.

Analysts Set New Price Targets

A number of analysts have issued reports on PEP shares. Royal Bank of Canada lowered their target price on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. Bank of America lowered their price objective on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. 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. Deutsche Bank Aktiengesellschaft cut their price objective on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research report on Wednesday, October 9th. Finally, Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock 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.