New Century Financial Group LLC Raises Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

by · The Markets Daily

New Century Financial Group LLC lifted its position in shares of PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 134.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,092 shares of the company’s stock after buying an additional 6,942 shares during the period. PepsiCo makes up approximately 0.8% of New Century Financial Group LLC’s portfolio, making the stock its 27th largest position. New Century Financial Group LLC’s holdings in PepsiCo were worth $2,056,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Valued Wealth Advisors LLC boosted its position in shares of PepsiCo by 77.5% during the 1st quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after purchasing an additional 69 shares during the period. Global Wealth Strategies & Associates boosted its position in shares of PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after buying an additional 59 shares during the period. POM Investment Strategies LLC grew its stake in shares of PepsiCo by 141.3% in the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after buying an additional 106 shares in the last quarter. Summit Securities Group LLC acquired a new position in PepsiCo during the 2nd quarter worth about $30,000. Finally, Kathleen S. Wright Associates Inc. purchased a new position in PepsiCo during the 1st quarter valued at about $35,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

PEP has been the topic of several research reports. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research report on Wednesday, October 9th. Morgan Stanley cut PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective on the stock. in a research note on Friday, September 20th. Barclays lowered their target price on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Finally, Royal Bank of Canada decreased their price objective on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research note on Friday, October 4th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $183.92.

Get Our Latest Analysis on PEP

PepsiCo Trading Up 0.2 %

Shares of PepsiCo stock opened at $175.06 on Friday. The company has a fifty day simple moving average of $173.78 and a 200-day simple moving average of $172.14. PepsiCo, Inc. has a 12-month low of $158.03 and a 12-month high of $183.41. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The stock has a market cap of $240.18 billion, a price-to-earnings ratio of 25.82, a PEG ratio of 3.28 and a beta of 0.53.

PepsiCo (NASDAQ:PEP – Get Free Report) last issued its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) 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 company had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. The business’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter last year, the company posted $2.25 earnings per share. On average, equities analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 6th were given a dividend of $1.355 per share. The ex-dividend date was Friday, September 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.10%. PepsiCo’s dividend payout ratio (DPR) is presently 79.94%.

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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