DAVENPORT & Co LLC Has $82.14 Million Holdings in PepsiCo, Inc. $PEP

DAVENPORT & Co LLC lowered its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.6% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 585,046 shares of the company’s stock after selling 3,712 shares during the period. DAVENPORT & Co LLC’s holdings in PepsiCo were worth $82,135,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of PepsiCo during the second quarter valued at approximately $2,330,594,000. Laurel Wealth Advisors LLC lifted its stake in PepsiCo by 14,420.2% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 3,890,688 shares of the company’s stock valued at $513,726,000 after acquiring an additional 3,863,893 shares in the last quarter. Kingstone Capital Partners Texas LLC bought a new stake in shares of PepsiCo in the 2nd quarter worth $460,110,000. Charles Schwab Investment Management Inc. raised its holdings in shares of PepsiCo by 9.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 29,031,404 shares of the company’s stock valued at $3,833,406,000 after purchasing an additional 2,556,163 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of PepsiCo by 19.5% during the second quarter. Franklin Resources Inc. now owns 15,577,073 shares of the company’s stock valued at $2,056,797,000 after purchasing an additional 2,541,455 shares in the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Stock Performance

NASDAQ:PEP opened at $143.68 on Wednesday. The company has a market capitalization of $196.46 billion, a P/E ratio of 27.32, a P/E/G ratio of 5.07 and a beta of 0.42. The business has a fifty day simple moving average of $147.80 and a two-hundred day simple moving average of $143.23. 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 $160.15.

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

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Friday, December 5th will be given a $1.4225 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $5.69 annualized dividend and a dividend yield of 4.0%. PepsiCo’s payout ratio is 108.17%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on PEP shares. HSBC upped their price objective on shares of PepsiCo from $145.00 to $152.00 and gave the stock a “hold” rating in a research report on Friday, October 10th. Jefferies Financial Group upped their target price on PepsiCo from $163.00 to $164.00 and gave the company a “hold” rating in a report on Tuesday, December 9th. Royal Bank Of Canada dropped their price target on PepsiCo from $146.00 to $145.00 and set a “sector perform” rating on the stock in a report on Monday, September 15th. Wall Street Zen upgraded PepsiCo from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. Finally, Wells Fargo & Company raised their target price on PepsiCo from $150.00 to $154.00 and gave the company a “positive” rating in a research report on Friday, October 10th. Eight investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price 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.