PepsiCo, Inc. (NASDAQ:PEP) Shares Acquired by Everence Capital Management Inc.

Everence Capital Management Inc. increased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 48.2% during the 4th quarter, HoldingsChannel reports. The fund owned 56,089 shares of the company’s stock after acquiring an additional 18,250 shares during the quarter. Everence Capital Management Inc.’s holdings in PepsiCo were worth $8,529,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Global Wealth Strategies & Associates raised its position in PepsiCo by 59.0% in the third 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. Highline Wealth Partners LLC acquired a new stake in shares of PepsiCo during the 3rd quarter worth about $28,000. Legacy Investment Solutions LLC purchased a new stake in PepsiCo in the 3rd quarter valued at about $31,000. Mattson Financial Services LLC purchased a new position in PepsiCo during the second quarter worth about $34,000. Finally, Rakuten Securities Inc. increased its position in shares of PepsiCo by 93.2% during the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after acquiring an additional 96 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

PEP has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lowered their price objective on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft upgraded PepsiCo from a “hold” rating to a “buy” rating and raised their price target for the stock from $179.00 to $184.00 in a research report on Thursday, December 12th. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a report on Thursday, October 10th. Barclays decreased 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, October 10th. Finally, Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $184.31.

PepsiCo Stock Up 0.4 %

Shares of PEP traded up $0.56 during midday trading on Friday, reaching $150.77. The stock had a trading volume of 1,438,999 shares, compared to its average volume of 3,073,778. The company has a market cap of $206.85 billion, a price-to-earnings ratio of 22.24, a PEG ratio of 2.94 and a beta of 0.52. The company’s fifty day simple moving average is $159.95 and its two-hundred day simple moving average is $167.37. PepsiCo, Inc. has a 1-year low of $149.71 and a 1-year high of $183.41. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. The company 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%. PepsiCo’s quarterly revenue was down .6% on a year-over-year basis. During the same period last year, the firm earned $2.25 earnings per share. Equities research analysts expect 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 issued a dividend of $1.355 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.59%. PepsiCo’s payout ratio is currently 79.94%.

PepsiCo Company 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.