Advisors Asset Management Inc. Buys 922 Shares of PepsiCo, Inc. $PEP

Advisors Asset Management Inc. increased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 86,942 shares of the company’s stock after acquiring an additional 922 shares during the quarter. Advisors Asset Management Inc.’s holdings in PepsiCo were worth $11,480,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Verity & Verity LLC boosted its position in shares of PepsiCo by 34.1% during the 2nd quarter. Verity & Verity LLC now owns 204,884 shares of the company’s stock worth $27,053,000 after purchasing an additional 52,056 shares in the last quarter. Columbia Bank raised its stake in PepsiCo by 6.1% during the 2nd quarter. Columbia Bank now owns 18,279 shares of the company’s stock worth $2,468,000 after buying an additional 1,055 shares during the period. Laurel Wealth Advisors LLC boosted its holdings in PepsiCo by 14,420.2% in the second quarter. Laurel Wealth Advisors LLC now owns 3,890,688 shares of the company’s stock worth $513,726,000 after acquiring an additional 3,863,893 shares in the last quarter. RiverFront Investment Group LLC grew its stake in PepsiCo by 6.0% in the second quarter. RiverFront Investment Group LLC now owns 5,069 shares of the company’s stock valued at $669,000 after acquiring an additional 289 shares during the period. Finally, Edmond DE Rothschild Holding S.A. increased its holdings in shares of PepsiCo by 18.8% during the second quarter. Edmond DE Rothschild Holding S.A. now owns 6,916 shares of the company’s stock valued at $913,000 after acquiring an additional 1,096 shares in the last quarter. 73.07% of the stock is owned by institutional investors.

PepsiCo Stock Down 0.6%

PEP stock opened at $145.50 on Tuesday. The stock has a market cap of $198.95 billion, a P/E ratio of 27.66, a P/E/G ratio of 3.56 and a beta of 0.45. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26. The stock’s fifty day simple moving average is $145.47 and its two-hundred day simple moving average is $140.69. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $165.13.

PepsiCo (NASDAQ:PEP) last released its earnings results on Wednesday, October 8th. The company reported $2.29 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.03. The company had revenue of $23.94 billion for the quarter, compared to analysts’ expectations of $23.91 billion. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business posted $2.31 EPS. Analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Friday, December 5th will be given a dividend of $1.4225 per share. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Friday, December 5th. PepsiCo’s dividend payout ratio is currently 108.17%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on PEP shares. Barclays increased their target price on PepsiCo from $140.00 to $142.00 and gave the stock an “equal weight” rating in a report on Friday, October 10th. Jefferies Financial Group raised their price objective on shares of PepsiCo from $161.00 to $163.00 and gave the company a “hold” rating in a research note on Friday, October 10th. Citigroup decreased their target price on shares of PepsiCo from $168.00 to $165.00 and set a “buy” rating for the company in a research report on Thursday, September 25th. Rothschild & Co Redburn raised their price target on shares of PepsiCo from $115.00 to $117.00 and gave the company a “sell” rating in a research report on Monday, October 13th. Finally, Piper Sandler cut their price target on PepsiCo from $162.00 to $161.00 and set an “overweight” rating for the company in a research note on Friday. Seven equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, PepsiCo currently has an average rating of “Hold” and an average price target of $156.90.

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.