B&L Asset Management LLC Makes New $1.18 Million Investment in PepsiCo, Inc. (NASDAQ:PEP)

B&L Asset Management LLC purchased a new position in PepsiCo, Inc. (NASDAQ:PEP) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,954 shares of the company’s stock, valued at approximately $1,183,000.

Several other institutional investors have also made changes to their positions in the stock. Erste Asset Management GmbH purchased a new stake in shares of PepsiCo during the third quarter worth $24,026,000. True Wealth Design LLC raised its stake in shares of PepsiCo by 233.3% during the 3rd quarter. True Wealth Design LLC now owns 1,360 shares of the company’s stock worth $231,000 after purchasing an additional 952 shares in the last quarter. Semmax Financial Advisors Inc. lifted its holdings in shares of PepsiCo by 13.9% during the 3rd quarter. Semmax Financial Advisors Inc. now owns 3,534 shares of the company’s stock valued at $581,000 after buying an additional 432 shares during the last quarter. Cobblestone Capital Advisors LLC NY grew its stake in shares of PepsiCo by 1.6% in the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 112,987 shares of the company’s stock valued at $19,213,000 after buying an additional 1,797 shares in the last quarter. Finally, Encompass More Asset Management raised its position in PepsiCo by 38.9% during the third quarter. Encompass More Asset Management now owns 2,432 shares of the company’s stock valued at $414,000 after acquiring an additional 681 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Stock Up 0.4 %

PEP stock opened at $163.45 on Friday. The business’s 50-day simple moving average is $167.79 and its 200 day simple moving average is $170.36. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The company has a market cap of $224.25 billion, a PE ratio of 24.11, a price-to-earnings-growth ratio of 3.05 and a beta of 0.53. PepsiCo, Inc. has a twelve month low of $155.85 and a twelve month high of $183.41.

PepsiCo (NASDAQ:PEP) last issued 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. The business had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. PepsiCo’s revenue was down .6% on a year-over-year basis. During the same period in the prior year, the company posted $2.25 earnings per share. On average, research analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Announces Dividend

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. The ex-dividend date is Friday, December 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.32%. PepsiCo’s dividend payout ratio (DPR) is currently 79.94%.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Royal Bank of Canada dropped their price target on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. JPMorgan Chase & Co. cut their target price on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Barclays decreased their price target on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Hsbc Global Res raised PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Finally, Morgan Stanley cut PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price for the company. in a research report on Friday, September 20th. One 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 company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $183.92.

PepsiCo Company Profile

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.