Albion Financial Group UT Increases Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Albion Financial Group UT boosted its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.4% during the third quarter, Holdings Channel reports. The firm owned 38,869 shares of the company’s stock after acquiring an additional 1,295 shares during the quarter. Albion Financial Group UT’s holdings in PepsiCo were worth $6,610,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Global Wealth Strategies & Associates increased its holdings in PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares during the period. Valued Wealth Advisors LLC grew its holdings 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 acquiring an additional 69 shares during the period. POM Investment Strategies LLC grew its holdings in shares of PepsiCo by 141.3% during the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after acquiring an additional 106 shares during the period. Summit Securities Group LLC purchased a new position in shares of PepsiCo during the 2nd quarter worth approximately $30,000. Finally, Fortis Group Advisors LLC grew its holdings in shares of PepsiCo by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock worth $33,000 after acquiring an additional 97 shares during the period. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. DZ Bank downgraded PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price on the stock. in a report on Friday, July 19th. 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. Wells Fargo & Company dropped their price target on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. JPMorgan Chase & Co. dropped their price target on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, TD Cowen cut PepsiCo from a “buy” rating to a “hold” rating and dropped their price target for the stock from $190.00 to $183.00 in a research report on Thursday. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, PepsiCo presently has a consensus rating of “Hold” and an average target price of $184.07.

PepsiCo Stock Performance

PEP stock opened at $172.99 on Friday. The stock has a market capitalization of $237.34 billion, a PE ratio of 25.51, a price-to-earnings-growth ratio of 3.11 and a beta of 0.53. PepsiCo, Inc. has a 12-month low of $157.43 and a 12-month high of $183.41. The company has a current ratio of 0.89, a quick ratio of 0.64 and a debt-to-equity ratio of 1.96. The stock’s 50 day simple moving average is $173.62 and its 200 day simple moving average is $172.06.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data 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 business had revenue of $23.32 billion for the quarter, compared to analysts’ expectations of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The firm’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.25 EPS. As a group, research analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 6th were issued a dividend of $1.355 per share. The ex-dividend date was Friday, September 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.13%. PepsiCo’s payout ratio is 79.94%.

PepsiCo 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.