PepsiCo, Inc. $PEP Shares Purchased by Crestwood Advisors Group LLC

Crestwood Advisors Group LLC grew its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 179.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 194,633 shares of the company’s stock after buying an additional 124,994 shares during the quarter. Crestwood Advisors Group LLC’s holdings in PepsiCo were worth $27,334,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in PEP. Evolution Wealth Management Inc. purchased a new stake in PepsiCo in the 2nd quarter valued at approximately $27,000. JCIC Asset Management Inc. purchased a new stake in shares of PepsiCo in the third quarter valued at approximately $27,000. Vermillion & White Wealth Management Group LLC grew its holdings in PepsiCo by 107.1% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 234 shares of the company’s stock worth $31,000 after acquiring an additional 121 shares during the period. Halbert Hargrove Global Advisors LLC lifted its holdings in PepsiCo by 667.7% in the third quarter. Halbert Hargrove Global Advisors LLC now owns 238 shares of the company’s stock valued at $33,000 after acquiring an additional 207 shares during the period. Finally, Manning & Napier Advisors LLC purchased a new stake in shares of PepsiCo during the 3rd quarter worth $37,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PEP. JPMorgan Chase & Co. increased their price target on shares of PepsiCo from $164.00 to $176.00 and gave the company an “overweight” rating in a report on Wednesday, February 4th. Wall Street Zen downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Saturday, December 27th. BNP Paribas Exane set a $191.00 price target on PepsiCo in a report on Wednesday, February 4th. Loop Capital set a $164.00 price objective on PepsiCo in a report on Thursday, October 23rd. Finally, 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. Eight equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, PepsiCo currently has an average rating of “Hold” and a consensus target price of $167.68.

PepsiCo Price Performance

Shares of NASDAQ:PEP opened at $165.94 on Tuesday. PepsiCo, Inc. has a one year low of $127.60 and a one year high of $171.48. The stock has a market cap of $226.78 billion, a PE ratio of 27.66, a price-to-earnings-growth ratio of 3.16 and a beta of 0.40. The business’s fifty day moving average price is $150.01 and its two-hundred day moving average price is $147.35. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.67 and a current ratio of 0.85.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Monday, February 2nd. The company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.24 by $0.02. PepsiCo had a return on equity of 57.92% and a net margin of 8.77%.The business had revenue of $29.34 billion for the quarter, compared to analyst estimates of $28.96 billion. During the same quarter last year, the company earned $1.96 earnings per share. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo declared that its Board of Directors has authorized a stock buyback plan on Tuesday, February 3rd that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the company to repurchase up to 4.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be given a $1.4225 dividend. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Friday, March 6th. PepsiCo’s payout ratio is currently 94.83%.

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.