Canton Hathaway LLC raised its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 4.3% during the third quarter, Holdings Channel reports. The institutional investor owned 11,942 shares of the company’s stock after buying an additional 491 shares during the quarter. Canton Hathaway LLC’s holdings in PepsiCo were worth $1,796,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in PEP. OLD Mission Capital LLC bought a new position in shares of PepsiCo during the third quarter valued at about $256,000. Ironwood Wealth Management LLC. lifted its position in shares of PepsiCo by 38.4% during the first quarter. Ironwood Wealth Management LLC. now owns 1,892 shares of the company’s stock valued at $268,000 after purchasing an additional 525 shares in the last quarter. Hoylecohen LLC lifted its position in shares of PepsiCo by 52.0% during the first quarter. Hoylecohen LLC now owns 8,624 shares of the company’s stock valued at $1,220,000 after purchasing an additional 2,952 shares in the last quarter. Sargent Bickham Lagudis LLC lifted its position in shares of PepsiCo by 3.0% during the first quarter. Sargent Bickham Lagudis LLC now owns 5,130 shares of the company’s stock valued at $726,000 after purchasing an additional 147 shares in the last quarter. Finally, Fragasso Group Inc. lifted its position in shares of PepsiCo by 7.1% during the first quarter. Fragasso Group Inc. now owns 33,766 shares of the company’s stock valued at $4,776,000 after purchasing an additional 2,250 shares in the last quarter. 70.48% of the stock is currently owned by hedge funds and other institutional investors.
PEP has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft raised their price objective on shares of PepsiCo from $158.00 to $160.00 and gave the stock a “hold” rating in a report on Wednesday, October 6th. Guggenheim raised their price objective on shares of PepsiCo from $171.00 to $175.00 and gave the stock a “buy” rating in a report on Tuesday, September 21st. Barclays raised their price objective on shares of PepsiCo from $165.00 to $168.00 and gave the stock an “overweight” rating in a report on Thursday, October 7th. Evercore ISI restated a “hold” rating and set a $160.00 price objective on shares of PepsiCo in a report on Thursday, October 7th. Finally, UBS Group lifted their target price on shares of PepsiCo from $170.00 to $172.00 and gave the stock a “buy” rating in a research note on Wednesday, October 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $162.86.
PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Monday, October 4th. The company reported $1.79 EPS for the quarter, beating the consensus estimate of $1.73 by $0.06. PepsiCo had a net margin of 10.62% and a return on equity of 58.31%. The company had revenue of $20.19 billion during the quarter, compared to analysts’ expectations of $19.39 billion. During the same quarter in the previous year, the company earned $1.66 earnings per share. PepsiCo’s revenue for the quarter was up 11.6% on a year-over-year basis. Analysts anticipate that PepsiCo, Inc. will post 6.25 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 7th. Shareholders of record on Friday, December 3rd will be given a dividend of $1.075 per share. The ex-dividend date is Thursday, December 2nd. This represents a $4.30 annualized dividend and a yield of 2.63%. PepsiCo’s payout ratio is presently 73.25%.
In other PepsiCo news, CFO Hugh F. Johnston sold 37,266 shares of PepsiCo stock in a transaction that occurred on Thursday, October 21st. The shares were sold at an average price of $160.30, for a total transaction of $5,973,739.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.14% of the company’s stock.
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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