Citizens Financial Group Inc. RI Has $39.19 Million Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

by · The Cerbat Gem

Citizens Financial Group Inc. RI boosted its holdings in PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 7.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 230,480 shares of the company’s stock after acquiring an additional 16,284 shares during the quarter. PepsiCo accounts for about 0.8% of Citizens Financial Group Inc. RI’s investment portfolio, making the stock its 26th biggest position. Citizens Financial Group Inc. RI’s holdings in PepsiCo were worth $39,193,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in PEP. Edgestream Partners L.P. raised its stake 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 acquiring an additional 796 shares during the last quarter. JT Stratford LLC boosted its stake in PepsiCo by 18.7% in the first quarter. JT Stratford LLC now owns 6,201 shares of the company’s stock worth $1,085,000 after purchasing an additional 979 shares in the last quarter. Guardian Capital LP grew its holdings in shares of 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 purchasing an additional 800 shares during the last quarter. Stonebridge Capital Advisors LLC increased its stake in shares of PepsiCo by 1.5% in the first quarter. Stonebridge Capital Advisors LLC now owns 12,198 shares of the company’s stock valued at $2,135,000 after buying an additional 175 shares in the last quarter. Finally, LRI Investments LLC acquired a new position in PepsiCo during the 1st quarter worth about $911,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Up 1.3 %

PepsiCo stock opened at $158.74 on Thursday. The firm has a market capitalization of $217.79 billion, a price-to-earnings ratio of 23.41, a PEG ratio of 2.92 and a beta of 0.53. The company’s 50 day simple moving average is $169.66 and its 200 day simple moving average is $171.16. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. PepsiCo, Inc. has a fifty-two week low of $155.85 and a fifty-two week high of $183.41.

PepsiCo (NASDAQ:PEP – Get Free Report) last announced its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.01. The company had revenue of $23.32 billion during 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 was down .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.25 EPS. As a group, sell-side analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 6th will be given a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date is Friday, December 6th. PepsiCo’s dividend payout ratio is currently 79.94%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on PEP shares. 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. Morgan Stanley cut shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective for the company. in a research report on Friday, September 20th. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Barclays cut their price target on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Finally, Bank of America lowered their price objective on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $183.92.

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PepsiCo Company Profile

(Free Report)

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.

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