Ascent Group LLC Has $7.28 Million Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Ascent Group LLC lifted its stake in PepsiCo, Inc. (NASDAQ:PEP) by 36.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,837 shares of the company’s stock after buying an additional 11,553 shares during the period. Ascent Group LLC’s holdings in PepsiCo were worth $7,284,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Benjamin Edwards Inc. lifted its holdings in PepsiCo by 739.9% during the 3rd quarter. Benjamin Edwards Inc. now owns 119,863 shares of the company’s stock valued at $20,394,000 after purchasing an additional 105,592 shares during the last quarter. Kestra Investment Management LLC bought a new position in shares of PepsiCo in the third quarter valued at approximately $527,000. Paradigm Capital Management LLC NV acquired a new position in shares of PepsiCo in the 3rd quarter worth approximately $507,000. FSA Wealth Management LLC bought a new stake in PepsiCo during the 3rd quarter worth approximately $114,000. Finally, B&L Asset Management LLC acquired a new stake in PepsiCo during the 3rd quarter valued at $1,183,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Trading Up 0.4 %

PEP opened at $163.45 on Monday. PepsiCo, Inc. has a twelve month low of $155.85 and a twelve month high of $183.41. The firm has a market cap of $224.25 billion, a PE ratio of 24.11, a price-to-earnings-growth ratio of 3.05 and a beta of 0.53. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The firm’s fifty day moving average is $167.79 and its two-hundred day moving average is $170.30.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $23.86 billion. During the same period in the previous year, the company posted $2.25 earnings per share. The company’s revenue for the quarter was down .6% on a year-over-year basis. Equities research analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Shareholders 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 yield of 3.32%. The ex-dividend date of this dividend is Friday, December 6th. PepsiCo’s payout ratio is currently 79.94%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Morgan Stanley cut PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price on the stock. in a report on Friday, September 20th. Bank of America lowered their price objective on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Royal Bank of Canada reduced their target price 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. Barclays lowered 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. Finally, Hsbc Global Res raised PepsiCo to a “hold” rating in a report on Thursday, October 10th. One 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. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $183.92.

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.