Allen Wealth Management LLC Makes New $1.58 Million Investment in PepsiCo, Inc. $PEP

Allen Wealth Management LLC purchased a new stake in shares of PepsiCo, Inc. (NASDAQ:PEP) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 11,245 shares of the company’s stock, valued at approximately $1,579,000. PepsiCo comprises approximately 1.1% of Allen Wealth Management LLC’s portfolio, making the stock its 21st biggest position.

Several other institutional investors also recently modified their holdings of the stock. Norges Bank bought a new position in shares of PepsiCo in the 2nd quarter worth $2,330,594,000. Laurel Wealth Advisors LLC grew its position 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. Kingstone Capital Partners Texas LLC bought a new position in PepsiCo in the second quarter valued at $460,110,000. Charles Schwab Investment Management Inc. raised its position in PepsiCo by 9.7% during 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 in the last quarter. Finally, Franklin Resources Inc. lifted its stake in PepsiCo by 19.5% during the second quarter. Franklin Resources Inc. now owns 15,577,073 shares of the company’s stock worth $2,056,797,000 after purchasing an additional 2,541,455 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Stock Down 0.9%

Shares of NASDAQ PEP opened at $142.23 on Monday. The firm’s fifty day moving average is $146.37 and its 200 day moving average is $143.96. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $160.15. 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 company has a market cap of $194.48 billion, a price-to-earnings ratio of 27.04, a PEG ratio of 4.66 and a beta of 0.42.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results 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. The business had revenue of $23.94 billion for 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 quarter last year, the firm earned $2.31 EPS. On average, equities research 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. Shareholders of record on Friday, December 5th will be given a dividend of $1.4225 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $5.69 dividend on an annualized basis and a yield of 4.0%. PepsiCo’s dividend payout ratio is presently 108.17%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PEP. Royal Bank Of Canada decreased their price objective on PepsiCo from $146.00 to $145.00 and set a “sector perform” rating on the stock in a report on Monday, September 15th. Evercore ISI lifted their price target on shares of PepsiCo from $150.00 to $152.00 in a research note on Friday, October 10th. Wall Street Zen lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Saturday, December 27th. Wells Fargo & Company increased their target price on shares of PepsiCo from $150.00 to $154.00 and gave the company a “positive” rating in a report on Friday, October 10th. Finally, UBS Group reissued a “buy” rating and issued a $172.00 price target on shares of PepsiCo in a research note on Tuesday, December 9th. Eight 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. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $158.75.

About PepsiCo

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.