Pacific Wealth Strategies Group Inc. grew its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.2% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 8,926 shares of the company’s stock after purchasing an additional 192 shares during the period. Pacific Wealth Strategies Group Inc.’s holdings in PepsiCo were worth $1,343,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in PEP. Paragon Wealth Strategies LLC bought a new position in shares of PepsiCo in the second quarter valued at approximately $30,000. Cowen Prime Advisors LLC bought a new position in shares of PepsiCo in the second quarter valued at approximately $34,000. Financial Insights Inc. bought a new position in shares of PepsiCo in the second quarter valued at approximately $36,000. AGF Investments LLC bought a new position in shares of PepsiCo in the second quarter valued at approximately $37,000. Finally, Itau Unibanco Holding S.A. bought a new position in PepsiCo during the second quarter valued at $44,000. 70.48% of the stock is owned by institutional investors.
In related news, CFO Hugh F. Johnston sold 37,266 shares of the stock in a transaction on Thursday, October 21st. The stock was sold at an average price of $160.30, for a total value of $5,973,739.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.14% of the company’s stock.
PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Monday, October 4th. The company reported $1.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.73 by $0.06. PepsiCo had a return on equity of 58.31% and a net margin of 10.62%. The company had revenue of $20.19 billion for the quarter, compared to the consensus estimate of $19.39 billion. During the same quarter last year, the business posted $1.66 earnings per share. The firm’s revenue was up 11.6% compared to the same quarter last year. Sell-side analysts forecast that PepsiCo, Inc. will post 6.25 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 7th. Investors of record on Friday, December 3rd will be given a $1.075 dividend. The ex-dividend date is Thursday, December 2nd. This represents a $4.30 dividend on an annualized basis and a dividend yield of 2.63%. PepsiCo’s dividend payout ratio (DPR) is presently 73.25%.
PEP has been the subject of several research reports. UBS Group increased their price objective on PepsiCo from $170.00 to $172.00 and gave the company a “buy” rating in a report on Wednesday, October 6th. Evercore ISI reissued a “hold” rating and set a $160.00 price objective on shares of PepsiCo in a report on Thursday, October 7th. Deutsche Bank Aktiengesellschaft increased their price objective on PepsiCo from $158.00 to $160.00 and gave the company a “hold” rating in a report on Wednesday, October 6th. Zacks Investment Research lowered PepsiCo from a “buy” rating to a “hold” rating and set a $164.00 price objective for the company. in a report on Monday, August 9th. Finally, Barclays increased their price objective on PepsiCo from $165.00 to $168.00 and gave the company an “overweight” rating in a report on Thursday, October 7th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $162.86.
PepsiCo, Inc engages in the manufacture, marketing, distribution and sale of beverages, food, and snacks. It is a food and beverage company with a complementary portfolio of brands, including Frito-Lay, Gatorade, Pepsi-Cola, Quaker, and Tropicana. It operates through the following business segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; and Africa, Middle East and South Asia The Frito-Lay North America segment markets, distributes, and sells snack foods under the Lay’s, Doritos, Cheetos, Tostitos, Fritos, Ruffles, and Santitas brands.
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