Advisors Capital Management LLC Has $23.24 Million Position in PepsiCo, Inc. $PEP

Advisors Capital Management LLC boosted its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 4.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 176,018 shares of the company’s stock after purchasing an additional 6,781 shares during the period. Advisors Capital Management LLC’s holdings in PepsiCo were worth $23,241,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PEP. Claris Advisors LLC MO increased its stake in shares of PepsiCo by 14.1% during the second quarter. Claris Advisors LLC MO now owns 2,490 shares of the company’s stock worth $329,000 after purchasing an additional 308 shares during the period. Foster Group Inc. raised its position in PepsiCo by 4.6% in the second quarter. Foster Group Inc. now owns 5,169 shares of the company’s stock valued at $683,000 after purchasing an additional 229 shares during the last quarter. Ignite Planners LLC raised its stake in shares of PepsiCo by 4.2% during the first quarter. Ignite Planners LLC now owns 3,773 shares of the company’s stock valued at $566,000 after acquiring an additional 151 shares during the last quarter. Merit Financial Group LLC boosted its holdings in PepsiCo by 46.4% in the second quarter. Merit Financial Group LLC now owns 114,344 shares of the company’s stock valued at $15,098,000 after acquiring an additional 36,239 shares during the last quarter. Finally, Fulton Bank N.A. lifted its stake in PepsiCo by 2.5% in the second quarter. Fulton Bank N.A. now owns 25,309 shares of the company’s stock valued at $3,342,000 after buying an additional 620 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on PEP shares. Bank of America upped their price objective on shares of PepsiCo from $150.00 to $155.00 and gave the stock a “neutral” rating in a report on Friday, October 10th. Barclays boosted their price objective on shares of PepsiCo from $140.00 to $142.00 and gave the company an “equal weight” rating in a research note on Friday, October 10th. Citigroup cut their price objective on PepsiCo from $168.00 to $165.00 and set a “buy” rating for the company in a report on Thursday, September 25th. Evercore ISI upped their price target on shares of PepsiCo from $150.00 to $152.00 in a report on Friday, October 10th. Finally, Piper Sandler upped their target price on shares of PepsiCo from $160.00 to $162.00 and gave the stock an “overweight” rating in a research report on Friday, October 10th. Seven research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $156.95.

PepsiCo Stock Performance

PEP opened at $145.02 on Friday. The company has a 50 day simple moving average of $144.96 and a two-hundred day simple moving average of $139.91. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.91 and a quick ratio of 0.72. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $166.88. The firm has a market cap of $198.29 billion, a P/E ratio of 27.57, a PEG ratio of 3.56 and a beta of 0.45.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Wednesday, October 8th. The company reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.03. The business had revenue of $23.94 billion during the quarter, compared to analyst estimates of $23.91 billion. PepsiCo had a net margin of 7.82% and a return on equity of 57.58%. The company’s revenue was up 2.7% on a year-over-year basis. During the same period last year, the firm posted $2.31 EPS. Equities analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

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.