Avestar Capital LLC Has $1.45 Million Position in PepsiCo, Inc. (NASDAQ:PEP)

Avestar Capital LLC boosted its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 5.0% in the third quarter, Holdings Channel reports. The firm owned 8,533 shares of the company’s stock after purchasing an additional 406 shares during the quarter. Avestar Capital LLC’s holdings in PepsiCo were worth $1,451,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Global Wealth Strategies & Associates lifted its holdings in PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares during the last quarter. Highline Wealth Partners LLC bought a new position in shares of PepsiCo in the third quarter valued at approximately $28,000. POM Investment Strategies LLC boosted its holdings 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 acquiring an additional 106 shares in the last quarter. Summit Securities Group LLC bought a new stake in PepsiCo during the 2nd quarter worth approximately $30,000. Finally, Rakuten Securities Inc. raised its position in PepsiCo by 93.2% in the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after purchasing an additional 96 shares during the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Price Performance

PepsiCo stock opened at $163.05 on Tuesday. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The firm has a market capitalization of $223.70 billion, a P/E ratio of 24.05, a PEG ratio of 3.02 and a beta of 0.53. The business has a 50-day moving average of $168.73 and a 200-day moving average of $170.78. PepsiCo, Inc. has a 1 year low of $155.85 and a 1 year high of $183.41.

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

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 6th will be paid a $1.355 dividend. The ex-dividend date is Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.32%. PepsiCo’s payout ratio is 79.94%.

Analyst Upgrades and Downgrades

PEP has been the subject of a number of research reports. Bank of America lowered their target price on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. JPMorgan Chase & Co. lowered their price objective on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research report on Wednesday, October 9th. TD Cowen cut shares of PepsiCo from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $190.00 to $183.00 in a research report on Thursday, October 10th. Finally, Royal Bank of Canada decreased their price objective on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $183.92.

PepsiCo 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.