Capital Investment Counsel LLC Buys 1,039 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Capital Investment Counsel LLC boosted its stake in PepsiCo, Inc. (NASDAQ:PEP) by 3.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,082 shares of the company’s stock after purchasing an additional 1,039 shares during the period. Capital Investment Counsel LLC’s holdings in PepsiCo were worth $5,796,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Global Wealth Strategies & Associates boosted its holdings in shares of PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after buying an additional 59 shares during the last quarter. Highline Wealth Partners LLC bought a new stake in shares of PepsiCo during the 3rd quarter valued at $28,000. POM Investment Strategies LLC increased its stake in shares of PepsiCo by 141.3% in the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after purchasing an additional 106 shares in the last quarter. Summit Securities Group LLC bought a new position in PepsiCo in the 2nd quarter worth $30,000. Finally, Mattson Financial Services LLC purchased a new position in PepsiCo during the second quarter valued at $34,000. 73.07% of the stock is owned by institutional investors.

PepsiCo Price Performance

NASDAQ:PEP opened at $162.00 on Friday. The company has a market capitalization of $222.26 billion, a P/E ratio of 23.89, a P/E/G ratio of 2.99 and a beta of 0.53. The business’s 50-day moving average is $169.01 and its 200 day moving average is $170.94. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a 12 month low of $155.85 and a 12 month high of $183.41.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The firm had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. During the same period in the prior year, the company earned $2.25 EPS. The company’s quarterly revenue was down .6% compared to the same quarter last year. On average, equities research analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 6th will be given a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.35%. The ex-dividend date is Friday, December 6th. PepsiCo’s dividend payout ratio is 79.94%.

Analyst Ratings Changes

Several research firms have recently commented on PEP. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Barclays dropped their price target on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Morgan Stanley cut shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price on the stock. in a research note on Friday, September 20th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, PepsiCo presently has an average rating of “Hold” and a consensus price target of $183.92.

About PepsiCo

PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of various beverages and convenient foods worldwide. The company operates through seven segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region.