Cardinal Capital Management Inc. Makes New Investment in PepsiCo, Inc. (NASDAQ:PEP)

Cardinal Capital Management Inc. purchased a new position in shares of PepsiCo, Inc. (NASDAQ:PEP) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 91,870 shares of the company’s stock, valued at approximately $15,622,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Global Wealth Strategies & Associates raised its position in 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 acquiring an additional 59 shares during the last quarter. Valued Wealth Advisors LLC grew its holdings in PepsiCo by 77.5% during the 1st quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock valued at $28,000 after buying an additional 69 shares during the last quarter. POM Investment Strategies LLC raised its holdings in shares of PepsiCo by 141.3% in the second 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 last quarter. Summit Securities Group LLC purchased a new stake in shares of PepsiCo in the second quarter valued at $30,000. Finally, Fortis Group Advisors LLC boosted its stake in shares of PepsiCo by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock valued at $33,000 after acquiring an additional 97 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Price Performance

PepsiCo stock opened at $174.81 on Friday. 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 firm has a market capitalization of $240.33 billion, a P/E ratio of 25.37, a PEG ratio of 3.11 and a beta of 0.53. The firm has a fifty day moving average of $173.52 and a 200-day moving average of $172.08. PepsiCo, Inc. has a 52-week low of $157.43 and a 52-week high of $183.41.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, beating 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. During the same period last year, the company posted $2.25 earnings per share. The firm’s revenue was down .6% compared to the same quarter last year. As a group, analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 6th were given a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend was Friday, September 6th. PepsiCo’s dividend payout ratio (DPR) is 78.66%.

Analysts Set New Price Targets

PEP has been the subject of several analyst reports. Royal Bank of Canada cut their target price on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research note on Friday, October 4th. Wells Fargo & Company reduced their price objective on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Wednesday. Bank of America reduced their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Finally, Morgan Stanley downgraded 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. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $183.92.

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.