Novare Capital Management LLC Acquires 378 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Novare Capital Management LLC increased its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 0.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,144 shares of the company’s stock after purchasing an additional 378 shares during the period. Novare Capital Management LLC’s holdings in PepsiCo were worth $10,908,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of PEP. Capital Advisors Ltd. LLC boosted its holdings in PepsiCo by 3.6% during the first quarter. Capital Advisors Ltd. LLC now owns 3,961 shares of the company’s stock valued at $693,000 after acquiring an additional 139 shares during the period. Norden Group LLC raised its position in shares of PepsiCo by 3,345.6% during the first quarter. Norden Group LLC now owns 179,377 shares of the company’s stock valued at $31,391,000 after buying an additional 174,171 shares during the last quarter. Marion Wealth Management raised its position in shares of PepsiCo by 6.3% during the first quarter. Marion Wealth Management now owns 8,382 shares of the company’s stock valued at $1,467,000 after buying an additional 494 shares during the last quarter. Meyer Handelman Co. raised its position in shares of PepsiCo by 3.9% during the first quarter. Meyer Handelman Co. now owns 253,769 shares of the company’s stock valued at $44,412,000 after buying an additional 9,465 shares during the last quarter. Finally, Global Assets Advisory LLC acquired a new position in shares of PepsiCo during the first quarter valued at about $28,366,000. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Price Performance

Shares of PEP traded down $0.25 during mid-day trading on Monday, hitting $174.56. 670,140 shares of the company traded hands, compared to its average volume of 5,486,029. PepsiCo, Inc. has a one year low of $158.03 and a one year high of $183.41. The stock has a market capitalization of $239.98 billion, a price-to-earnings ratio of 25.40, a PEG ratio of 3.11 and a beta of 0.53. 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 business has a 50-day moving average of $173.52 and a 200 day moving average of $172.07.

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

PepsiCo Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages have recently commented on PEP. Wells Fargo & Company cut their price objective on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Barclays cut their price objective on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research report on Thursday. Morgan Stanley lowered shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target for the company. in a research report on Friday, September 20th. Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a research report on Thursday. Finally, Bank of America dropped their price target on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. One investment 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 an average rating of “Hold” and a consensus price target of $183.92.

About PepsiCo

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.