Violich Capital Management Inc. Acquires 2,220 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Violich Capital Management Inc. lifted its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 90,587 shares of the company’s stock after purchasing an additional 2,220 shares during the period. PepsiCo comprises about 2.0% of Violich Capital Management Inc.’s investment portfolio, making the stock its 13th biggest position. Violich Capital Management Inc.’s holdings in PepsiCo were worth $15,404,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Capital Advisors Ltd. LLC grew its holdings in PepsiCo by 3.6% in the 1st quarter. Capital Advisors Ltd. LLC now owns 3,961 shares of the company’s stock worth $693,000 after acquiring an additional 139 shares during the last quarter. Norden Group LLC increased its stake in shares of PepsiCo by 3,345.6% during the first quarter. Norden Group LLC now owns 179,377 shares of the company’s stock valued at $31,391,000 after buying an additional 174,171 shares during the period. Global Assets Advisory LLC bought a new position in shares of PepsiCo during the first quarter valued at approximately $28,366,000. M&G Plc lifted its stake in PepsiCo by 3.6% in the second quarter. M&G Plc now owns 426,269 shares of the company’s stock worth $70,334,000 after acquiring an additional 14,724 shares during the period. Finally, CGN Advisors LLC boosted its holdings in PepsiCo by 7.3% in the first quarter. CGN Advisors LLC now owns 18,969 shares of the company’s stock valued at $3,320,000 after acquiring an additional 1,285 shares in the last quarter. 73.07% of the stock is owned by institutional investors.

PepsiCo Price Performance

Shares of PEP opened at $175.06 on Monday. The company has a market capitalization of $240.67 billion, a P/E ratio of 25.41, a price-to-earnings-growth ratio of 3.28 and a beta of 0.53. PepsiCo, Inc. has a twelve month low of $158.03 and a twelve month high of $183.41. 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 firm has a 50 day moving average of $173.78 and a 200 day moving average of $172.15.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $23.86 billion. During the same quarter in the previous year, the business earned $2.25 earnings per share. The company’s revenue was down .6% on a year-over-year basis. As a group, equities research analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 6th were issued a dividend of $1.355 per share. The ex-dividend date was Friday, September 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.10%. PepsiCo’s payout ratio is 78.66%.

Wall Street Analyst Weigh In

PEP has been the topic of a number of research reports. Barclays cut their target price on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft reduced their target price on PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a report on Wednesday, October 9th. DZ Bank cut PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price for the company. in a research note on Friday, July 19th. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. dropped their target price on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average 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.