Deroy & Devereaux Private Investment Counsel Inc. Buys 59,980 Shares of PepsiCo, Inc. $PEP

Deroy & Devereaux Private Investment Counsel Inc. grew its stake in PepsiCo, Inc. (NASDAQ:PEP) by 48.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 182,803 shares of the company’s stock after acquiring an additional 59,980 shares during the quarter. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in PepsiCo were worth $25,673,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of PEP. Claris Advisors LLC MO boosted its position in shares of PepsiCo by 14.1% during the second quarter. Claris Advisors LLC MO now owns 2,490 shares of the company’s stock worth $329,000 after buying an additional 308 shares during the period. Foster Group Inc. raised its position in PepsiCo by 4.6% in the 2nd quarter. Foster Group Inc. now owns 5,169 shares of the company’s stock valued at $683,000 after buying an additional 229 shares during the last quarter. Merit Financial Group LLC boosted its position in PepsiCo by 46.4% during the 2nd quarter. Merit Financial Group LLC now owns 114,344 shares of the company’s stock worth $15,098,000 after acquiring an additional 36,239 shares during the last quarter. Fulton Bank N.A. grew its stake in shares of PepsiCo by 2.5% during the 2nd quarter. Fulton Bank N.A. now owns 25,309 shares of the company’s stock worth $3,342,000 after acquiring an additional 620 shares in the last quarter. Finally, Clayton Financial Group LLC acquired a new stake in shares of PepsiCo in the third quarter valued at approximately $872,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PEP. Evercore ISI increased their target price on shares of PepsiCo from $150.00 to $152.00 in a report on Friday, October 10th. UBS Group reduced their price objective on shares of PepsiCo from $172.00 to $170.00 and set a “buy” rating for the company in a research note on Wednesday. Loop Capital set a $164.00 price objective on PepsiCo in a report on Thursday, October 23rd. The Goldman Sachs Group upped their target price on PepsiCo from $165.00 to $167.00 and gave the stock a “buy” rating in a report on Friday, October 10th. Finally, Wells Fargo & Company raised their price target on PepsiCo from $150.00 to $154.00 and gave the company a “positive” rating in a research note on Friday, October 10th. Eight investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $158.58.

PepsiCo Price Performance

NASDAQ:PEP opened at $146.57 on Friday. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $160.15. The firm has a market capitalization of $200.41 billion, a price-to-earnings ratio of 27.87, a P/E/G ratio of 4.78 and a beta of 0.42. The stock’s 50 day moving average price is $145.55 and its two-hundred day moving average price is $144.51. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26.

PepsiCo Dividend Announcement

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

PepsiCo Company 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.