Cornerstone Advisors LLC Has $12.96 Million Stake in PepsiCo, Inc. (NASDAQ:PEP)

Cornerstone Advisors LLC lifted its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 4.5% during the 3rd quarter, Holdings Channel reports. The firm owned 76,200 shares of the company’s stock after purchasing an additional 3,300 shares during the quarter. Cornerstone Advisors LLC’s holdings in PepsiCo were worth $12,958,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of PEP. Edgestream Partners L.P. raised its position in shares of PepsiCo by 20.9% in the first quarter. Edgestream Partners L.P. now owns 4,605 shares of the company’s stock valued at $806,000 after purchasing an additional 796 shares during the period. JT Stratford LLC raised its holdings in PepsiCo by 18.7% in the 1st quarter. JT Stratford LLC now owns 6,201 shares of the company’s stock valued at $1,085,000 after acquiring an additional 979 shares during the period. Guardian Capital LP lifted its position in PepsiCo by 4.1% during the first quarter. Guardian Capital LP now owns 20,086 shares of the company’s stock worth $3,515,000 after acquiring an additional 800 shares during the last quarter. Stonebridge Capital Advisors LLC boosted its holdings in shares of PepsiCo by 1.5% during the first quarter. Stonebridge Capital Advisors LLC now owns 12,198 shares of the company’s stock worth $2,135,000 after acquiring an additional 175 shares during the period. Finally, LRI Investments LLC acquired a new position in shares of PepsiCo in the first quarter valued at approximately $911,000. 73.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PEP. TD Cowen downgraded PepsiCo from a “buy” rating to a “hold” rating and reduced their price target for the company from $190.00 to $183.00 in a research note on Thursday, October 10th. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. reduced their price objective on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Royal Bank of Canada reduced 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. Finally, StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, PepsiCo currently has an average rating of “Hold” and a consensus price target of $183.92.

PepsiCo Price Performance

PepsiCo stock opened at $158.74 on Thursday. The stock has a 50-day moving average price of $169.66 and a two-hundred day moving average price of $171.16. PepsiCo, Inc. has a 12 month low of $155.85 and a 12 month high of $183.41. The company has a market capitalization of $217.79 billion, a PE ratio of 23.41, a P/E/G ratio of 2.92 and a beta of 0.53. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The business had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. During the same quarter last year, the business earned $2.25 EPS. The firm’s quarterly revenue was down .6% on a year-over-year basis. Analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 6th will be paid a $1.355 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.41%. PepsiCo’s dividend payout ratio is 79.94%.

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.