PepsiCo, Inc. (NASDAQ:PEP) Shares Acquired by Castle Rock Wealth Management LLC

Castle Rock Wealth Management LLC boosted its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 47.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,176 shares of the company’s stock after acquiring an additional 2,957 shares during the period. Castle Rock Wealth Management LLC’s holdings in PepsiCo were worth $1,534,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PEP. Legal & General Group Plc grew its holdings in shares of PepsiCo by 7.2% in the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock valued at $2,234,400,000 after purchasing an additional 905,468 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of PepsiCo by 7.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company’s stock valued at $1,673,632,000 after buying an additional 700,092 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of PepsiCo by 8.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock worth $1,221,089,000 after buying an additional 561,465 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of PepsiCo by 1.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock valued at $846,030,000 after buying an additional 57,322 shares during the period. Finally, Flossbach Von Storch AG grew its position in PepsiCo by 67.2% in the first quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock worth $798,047,000 after acquiring an additional 1,832,385 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PEP shares. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research report on Wednesday. Royal Bank of Canada lowered 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 target 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. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research report on Wednesday. Finally, Barclays decreased their price target on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research note on Thursday. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, PepsiCo currently has a consensus rating of “Hold” and an average price target of $184.07.

PepsiCo Stock Up 0.6 %

PepsiCo stock traded up $0.98 during mid-day trading on Friday, hitting $173.97. The company had a trading volume of 1,297,687 shares, compared to its average volume of 5,492,202. The business has a fifty day moving average of $173.59 and a 200 day moving average of $172.07. PepsiCo, Inc. has a 1 year low of $157.43 and a 1 year high of $183.41. 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 cap of $238.69 billion, a price-to-earnings ratio of 25.59, a PEG ratio of 3.11 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. The firm had revenue of $23.32 billion during 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 business’s revenue was down .6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.25 EPS. On average, sell-side analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 6th were given a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend was Friday, September 6th. 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.