Eagle Asset Management Inc. Purchases 96,365 Shares of PepsiCo, Inc. (NASDAQ:PEP)

by · The Markets Daily

Eagle Asset Management Inc. lifted its position in PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 16.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 684,395 shares of the company’s stock after buying an additional 96,365 shares during the period. Eagle Asset Management Inc.’s holdings in PepsiCo were worth $113,001,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. International Assets Investment Management LLC lifted its holdings in shares of PepsiCo by 17,113.0% during the third quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock worth $547,626,000 after purchasing an additional 3,201,676 shares during the period. Swedbank AB lifted its stake in shares of PepsiCo by 211.4% in the 3rd quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock valued at $398,847,000 after purchasing an additional 1,592,343 shares during the period. PineStone Asset Management Inc. increased its holdings in PepsiCo by 125.2% in the second quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock valued at $452,003,000 after buying an additional 1,523,631 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of PepsiCo by 5.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock valued at $3,632,413,000 after acquiring an additional 1,125,059 shares during the period. Finally, Legal & General Group Plc boosted its position in PepsiCo by 7.2% during the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock worth $2,234,400,000 after purchasing an additional 905,468 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PEP. Bank of America cut their target price on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Hsbc Global Res raised PepsiCo to a “hold” rating in a report on Thursday, October 10th. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research report on Wednesday, October 9th. Finally, Royal Bank of Canada cut their price objective on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $183.92.

Read Our Latest Analysis on PEP

PepsiCo Stock Up 1.0 %

Shares of NASDAQ PEP opened at $160.29 on Friday. The stock has a market cap of $219.92 billion, a PE ratio of 23.64, a price-to-earnings-growth ratio of 2.92 and a beta of 0.53. PepsiCo, Inc. has a 52-week low of $155.85 and a 52-week high of $183.41. The business has a 50-day moving average price of $169.32 and a 200 day moving average price of $171.08. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96.

PepsiCo (NASDAQ:PEP – Get Free Report) last announced its earnings results on Tuesday, October 8th. The company reported $2.31 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 for the quarter, compared to analysts’ expectations of $23.86 billion. During the same period in the previous year, the company posted $2.25 EPS. The company’s quarterly revenue was down .6% on a year-over-year basis. Equities research analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 6th will be paid a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a yield of 3.38%. The ex-dividend date is Friday, December 6th. PepsiCo’s dividend payout ratio is presently 79.94%.

About PepsiCo

(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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