Sterneck Capital Management LLC Makes New Investment in PepsiCo, Inc. (NASDAQ:PEP)

Sterneck Capital Management LLC purchased a new stake in PepsiCo, Inc. (NASDAQ:PEP) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,385 shares of the company’s stock, valued at approximately $236,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Flossbach Von Storch AG raised its position in shares of PepsiCo by 67.2% during the 1st quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock worth $798,047,000 after purchasing an additional 1,832,385 shares during the last quarter. PineStone Asset Management Inc. raised its holdings in shares of PepsiCo by 125.2% in the second quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock worth $452,003,000 after acquiring an additional 1,523,631 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of PepsiCo by 429.3% during the first quarter. Van ECK Associates Corp now owns 1,454,793 shares of the company’s stock valued at $254,603,000 after acquiring an additional 1,179,922 shares during the last quarter. Confluence Investment Management LLC purchased a new stake in PepsiCo during the 1st quarter worth about $166,243,000. Finally, Legal & General Group Plc lifted its holdings in PepsiCo by 7.2% in the 2nd quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock valued at $2,234,400,000 after purchasing an additional 905,468 shares in the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Price Performance

PEP opened at $168.53 on Friday. PepsiCo, Inc. has a 52-week low of $155.83 and a 52-week high of $183.41. The company has a 50 day moving average of $173.90 and a two-hundred day moving average of $172.13. The company has a market cap of $231.49 billion, a P/E ratio of 24.46, a P/E/G ratio of 2.93 and a beta of 0.53. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.87.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Thursday, July 11th. The company reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.12. The firm had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $22.59 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.09 EPS. On average, analysts expect that PepsiCo, Inc. will post 8.14 earnings per share for the current year.

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 6th were issued a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date of this dividend was Friday, September 6th. PepsiCo’s dividend payout ratio is presently 78.66%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PEP. Morgan Stanley downgraded shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target for the company. in a report on Friday, September 20th. Royal Bank of Canada cut their price target on PepsiCo from $180.00 to $177.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Wells Fargo & Company lowered their price objective on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Barclays increased their target price on PepsiCo from $179.00 to $187.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Finally, Bank of America dropped their price objective on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research note on Monday. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $185.43.

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.