Great Valley Advisor Group Inc. Buys 23,412 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Great Valley Advisor Group Inc. boosted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 28.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 105,487 shares of the company’s stock after buying an additional 23,412 shares during the period. Great Valley Advisor Group Inc.’s holdings in PepsiCo were worth $17,938,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Nicolet Advisory Services LLC lifted its stake in shares of PepsiCo by 2.2% in the third quarter. Nicolet Advisory Services LLC now owns 43,079 shares of the company’s stock worth $7,260,000 after buying an additional 915 shares in the last quarter. Leelyn Smith LLC raised its holdings in PepsiCo by 2.7% in the 3rd quarter. Leelyn Smith LLC now owns 16,368 shares of the company’s stock worth $2,783,000 after acquiring an additional 432 shares during the last quarter. Camden National Bank boosted its stake in PepsiCo by 0.9% during the 3rd quarter. Camden National Bank now owns 60,055 shares of the company’s stock valued at $10,212,000 after purchasing an additional 516 shares during the last quarter. Stonebrook Private Inc. raised its stake in shares of PepsiCo by 7.2% in the third quarter. Stonebrook Private Inc. now owns 2,316 shares of the company’s stock worth $394,000 after purchasing an additional 155 shares during the last quarter. Finally, Nwam LLC lifted its holdings in shares of PepsiCo by 6.0% during the third quarter. Nwam LLC now owns 9,383 shares of the company’s stock valued at $1,596,000 after purchasing an additional 535 shares in the last quarter. 73.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on PEP shares. Morgan Stanley downgraded shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target on the stock. in a report on Friday, September 20th. Barclays cut their price objective on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Bank of America dropped their target price on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. TD Cowen cut shares of PepsiCo from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $190.00 to $183.00 in a research note on Thursday, October 10th. Finally, StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $183.92.

PepsiCo Stock Performance

PepsiCo stock opened at $162.00 on Friday. PepsiCo, Inc. has a fifty-two week low of $155.85 and a fifty-two week high of $183.41. The company has a market capitalization of $222.26 billion, a PE ratio of 23.89, a P/E/G ratio of 2.99 and a beta of 0.53. The company has a 50 day moving average price of $169.01 and a 200-day moving average price of $170.98. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The company had revenue of $23.32 billion for the quarter, compared to analysts’ expectations of $23.86 billion. During the same period in the prior year, the business earned $2.25 EPS. The firm’s quarterly revenue was down .6% on a year-over-year basis. As a group, equities analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 6th will be paid a $1.355 dividend. The ex-dividend date is Friday, December 6th. This represents a $5.42 annualized dividend and a yield of 3.35%. PepsiCo’s dividend payout ratio (DPR) is presently 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.