Precedent Wealth Partners LLC Grows Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Precedent Wealth Partners LLC increased its stake in PepsiCo, Inc. (NASDAQ:PEP) by 10.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,036 shares of the company’s stock after buying an additional 772 shares during the period. Precedent Wealth Partners LLC’s holdings in PepsiCo were worth $1,366,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in PEP. Meixler Investment Management Ltd. raised its holdings in PepsiCo by 4.4% during the 2nd quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company’s stock worth $228,000 after purchasing an additional 58 shares during the last quarter. Opes Wealth Management LLC raised its stake in shares of PepsiCo by 2.2% during the second quarter. Opes Wealth Management LLC now owns 2,748 shares of the company’s stock worth $453,000 after buying an additional 59 shares during the last quarter. Global Wealth Strategies & Associates boosted its stake in PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after acquiring an additional 59 shares during the last quarter. Bank of Stockton raised its position in shares of PepsiCo by 2.3% during the 2nd quarter. Bank of Stockton now owns 2,716 shares of the company’s stock valued at $448,000 after acquiring an additional 60 shares during the last quarter. Finally, Oxbow Advisors LLC lifted its stake in shares of PepsiCo by 0.7% in the 2nd quarter. Oxbow Advisors LLC now owns 8,982 shares of the company’s stock valued at $1,481,000 after purchasing an additional 60 shares during the period. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Stock Up 0.2 %

NASDAQ:PEP opened at $175.06 on Friday. The company has a market cap of $240.18 billion, a PE ratio of 25.82, a PEG ratio of 3.28 and a beta of 0.53. The stock has a 50-day simple moving average of $173.78 and a 200 day simple moving average of $172.13. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. PepsiCo, Inc. has a 52-week low of $158.03 and a 52-week high of $183.41.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. The business 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 firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.25 earnings per share. On average, sell-side analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 6th were given a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend was Friday, September 6th. PepsiCo’s dividend payout ratio is currently 79.94%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on PEP shares. DZ Bank downgraded PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective for the company. in a report on Friday, July 19th. Bank of America cut their price target on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a report on Thursday, October 10th. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, PepsiCo presently has a consensus rating of “Hold” and a consensus target price 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.