Corsicana & Co. Invests $906,000 in PepsiCo, Inc. $PEP

Corsicana & Co. acquired a new stake in shares of PepsiCo, Inc. (NASDAQ:PEP) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 6,450 shares of the company’s stock, valued at approximately $906,000.

Other hedge funds have also added to or reduced their stakes in the company. Viking Fund Management LLC increased its holdings in shares of PepsiCo by 4.8% during the third quarter. Viking Fund Management LLC now owns 131,000 shares of the company’s stock valued at $18,398,000 after acquiring an additional 6,000 shares in the last quarter. CCM Investment Advisers LLC grew its position in PepsiCo by 2.2% during the 3rd quarter. CCM Investment Advisers LLC now owns 107,611 shares of the company’s stock valued at $15,113,000 after purchasing an additional 2,355 shares during the last quarter. Falcon Wealth Planning increased its stake in PepsiCo by 8.1% during the 3rd quarter. Falcon Wealth Planning now owns 4,612 shares of the company’s stock valued at $648,000 after purchasing an additional 347 shares in the last quarter. Cyndeo Wealth Partners LLC raised its holdings in PepsiCo by 1.2% in the third quarter. Cyndeo Wealth Partners LLC now owns 14,108 shares of the company’s stock worth $1,981,000 after buying an additional 162 shares during the last quarter. Finally, Quotient Wealth Partners LLC lifted its stake in shares of PepsiCo by 21.2% in the third quarter. Quotient Wealth Partners LLC now owns 5,008 shares of the company’s stock worth $703,000 after buying an additional 877 shares in the last quarter. 73.07% of the stock is owned by institutional investors.

PepsiCo Trading Down 0.8%

PepsiCo stock opened at $148.16 on Friday. PepsiCo, Inc. has a 52-week low of $127.60 and a 52-week high of $160.15. The company has a market cap of $202.59 billion, a P/E ratio of 28.17, a P/E/G ratio of 5.11 and a beta of 0.42. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26. The business has a 50-day simple moving average of $148.00 and a two-hundred day simple moving average of $142.94.

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

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Friday, December 5th will be issued a $1.4225 dividend. This represents a $5.69 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Friday, December 5th. PepsiCo’s dividend payout ratio (DPR) is currently 108.17%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. The Goldman Sachs Group raised their price target on shares of PepsiCo from $165.00 to $167.00 and gave the company a “buy” rating in a research report on Friday, October 10th. Jefferies Financial Group lifted their target price on PepsiCo from $163.00 to $164.00 and gave the stock a “hold” rating in a report on Tuesday, December 9th. JPMorgan Chase & Co. raised PepsiCo from a “neutral” rating to an “overweight” rating and upped their price target for the company from $151.00 to $164.00 in a report on Wednesday, December 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of PepsiCo in a report on Tuesday, October 14th. Finally, Loop Capital set a $164.00 target price on shares of PepsiCo in a research note on Thursday, October 23rd. Eight investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $158.75.

PepsiCo Profile

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.