Guinness Asset Management LTD Buys 51,447 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Guinness Asset Management LTD boosted its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 4.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,175,247 shares of the company’s stock after purchasing an additional 51,447 shares during the quarter. PepsiCo comprises about 3.8% of Guinness Asset Management LTD’s portfolio, making the stock its 17th biggest position. Guinness Asset Management LTD owned 0.09% of PepsiCo worth $199,832,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Capital Advisors Ltd. LLC increased its position in PepsiCo by 3.6% during the 1st quarter. Capital Advisors Ltd. LLC now owns 3,961 shares of the company’s stock valued at $693,000 after purchasing an additional 139 shares during the period. Norden Group LLC raised its stake in PepsiCo by 3,345.6% in the first quarter. Norden Group LLC now owns 179,377 shares of the company’s stock worth $31,391,000 after buying an additional 174,171 shares in the last quarter. Marion Wealth Management lifted its holdings in PepsiCo by 6.3% during the first quarter. Marion Wealth Management now owns 8,382 shares of the company’s stock worth $1,467,000 after buying an additional 494 shares during the period. Public Employees Retirement System of Ohio boosted its position in PepsiCo by 1.6% during the 4th quarter. Public Employees Retirement System of Ohio now owns 715,296 shares of the company’s stock valued at $121,486,000 after acquiring an additional 11,485 shares in the last quarter. Finally, Meyer Handelman Co. raised its position in shares of PepsiCo by 3.9% in the 1st quarter. Meyer Handelman Co. now owns 253,769 shares of the company’s stock worth $44,412,000 after acquiring an additional 9,465 shares in the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PEP. Royal Bank of Canada cut their price objective on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. DZ Bank lowered PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective for the company. in a report on Friday, July 19th. Barclays dropped their target price on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research note on Thursday. Jefferies Financial Group decreased their price target on PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $183.92.

PepsiCo Stock Performance

Shares of PEP traded up $1.82 during mid-day trading on Friday, reaching $174.81. The company had a trading volume of 4,720,299 shares, compared to its average volume of 5,510,471. The stock has a 50 day moving average of $173.52 and a two-hundred day moving average of $172.08. The company has a quick ratio of 0.64, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The stock has a market capitalization of $239.84 billion, a P/E ratio of 25.78, a PEG ratio of 3.11 and a beta of 0.53. PepsiCo, Inc. has a 52-week low of $157.43 and a 52-week high of $183.41.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, topping 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 quarter last year, the company earned $2.25 EPS. The business’s revenue was down .6% on a year-over-year basis. On average, analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current 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. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend was Friday, September 6th. PepsiCo’s dividend payout ratio (DPR) is presently 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.