Perigon Wealth Management LLC Purchases 12,099 Shares of PepsiCo, Inc. $PEP

Perigon Wealth Management LLC increased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 32.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,635 shares of the company’s stock after purchasing an additional 12,099 shares during the period. Perigon Wealth Management LLC’s holdings in PepsiCo were worth $6,971,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of PEP. Nova Wealth Management Inc. acquired a new stake in shares of PepsiCo during the 1st quarter valued at about $25,000. Evolution Wealth Management Inc. bought a new position in PepsiCo during the second quarter worth about $27,000. Legend Financial Advisors Inc. acquired a new stake in PepsiCo during the second quarter valued at approximately $29,000. Vermillion & White Wealth Management Group LLC grew its stake in shares of PepsiCo by 107.1% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 234 shares of the company’s stock valued at $31,000 after purchasing an additional 121 shares during the period. Finally, Halbert Hargrove Global Advisors LLC raised its stake in PepsiCo by 667.7% during the third quarter. Halbert Hargrove Global Advisors LLC now owns 238 shares of the company’s stock worth $33,000 after acquiring an additional 207 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Up 0.0%

NASDAQ PEP opened at $143.78 on Monday. The stock has a market capitalization of $196.60 billion, a P/E ratio of 27.33, a price-to-earnings-growth ratio of 4.96 and a beta of 0.42. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $160.15. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.72 and a current ratio of 0.91. The stock has a fifty day moving average of $147.27 and a 200-day moving average of $143.50.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Wednesday, October 8th. The company reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.03. The business 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 firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the business earned $2.31 earnings per share. On average, equities research analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Announces Dividend

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 dividend of $1.4225 per share. The ex-dividend date is Friday, December 5th. This represents a $5.69 annualized dividend and a dividend yield of 4.0%. PepsiCo’s payout ratio is currently 108.17%.

Analysts Set New Price Targets

A number of research firms have commented on PEP. Jefferies Financial Group boosted their price target on shares of PepsiCo from $163.00 to $164.00 and gave the company a “hold” rating in a research report on Tuesday, December 9th. HSBC lifted their target price on shares of PepsiCo from $145.00 to $152.00 and gave the company a “hold” rating in a research note on Friday, October 10th. Piper Sandler raised their price target on PepsiCo from $161.00 to $172.00 and gave the company an “overweight” rating in a report on Tuesday, December 9th. Evercore ISI boosted their price objective on PepsiCo from $150.00 to $152.00 in a research note on Friday, October 10th. Finally, Wall Street Zen lowered PepsiCo from a “buy” rating to a “hold” rating in a research note on Saturday. Eight investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock 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.