Canton Hathaway LLC grew its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 4.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,942 shares of the company’s stock after buying an additional 491 shares during the quarter. Canton Hathaway LLC’s holdings in PepsiCo were worth $1,796,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Red Door Wealth Management LLC lifted its position in PepsiCo by 22.5% during the 2nd quarter. Red Door Wealth Management LLC now owns 9,937 shares of the company’s stock worth $1,472,000 after buying an additional 1,824 shares in the last quarter. JLB & Associates Inc. increased its stake in shares of PepsiCo by 2.4% during the 2nd quarter. JLB & Associates Inc. now owns 103,057 shares of the company’s stock worth $15,269,000 after purchasing an additional 2,457 shares during the last quarter. 44 Wealth Management LLC increased its stake in shares of PepsiCo by 88.0% during the 2nd quarter. 44 Wealth Management LLC now owns 10,116 shares of the company’s stock worth $1,499,000 after purchasing an additional 4,736 shares during the last quarter. Carnegie Capital Asset Management LLC increased its stake in shares of PepsiCo by 2.5% during the 2nd quarter. Carnegie Capital Asset Management LLC now owns 131,021 shares of the company’s stock worth $19,409,000 after purchasing an additional 3,210 shares during the last quarter. Finally, Fulcrum Capital LLC increased its stake in shares of PepsiCo by 7.9% during the 2nd quarter. Fulcrum Capital LLC now owns 50,328 shares of the company’s stock worth $7,457,000 after purchasing an additional 3,681 shares during the last quarter. 70.48% of the stock is currently owned by hedge funds and other institutional investors.
PEP has been the topic of several recent analyst reports. Barclays boosted their price objective on shares of PepsiCo from $165.00 to $168.00 and gave the stock an “overweight” rating in a research note on Thursday, October 7th. Deutsche Bank Aktiengesellschaft upped their price target on shares of PepsiCo from $158.00 to $160.00 and gave the company a “hold” rating in a research note on Wednesday, October 6th. Guggenheim upped their price target on shares of PepsiCo from $171.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday, September 21st. Evercore ISI reiterated a “hold” rating and issued a $160.00 price target on shares of PepsiCo in a research note on Thursday, October 7th. Finally, UBS Group upped their price target on shares of PepsiCo from $170.00 to $172.00 and gave the company a “buy” rating in a research note on Wednesday, October 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $162.86.
PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Monday, October 4th. The company reported $1.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.73 by $0.06. PepsiCo had a net margin of 10.62% and a return on equity of 58.31%. The company had revenue of $20.19 billion during the quarter, compared to the consensus estimate of $19.39 billion. During the same quarter in the prior year, the firm posted $1.66 EPS. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. On average, equities analysts forecast that PepsiCo, Inc. will post 6.25 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 7th. Stockholders of record on Friday, December 3rd will be issued a dividend of $1.075 per share. This represents a $4.30 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend is Thursday, December 2nd. PepsiCo’s dividend payout ratio (DPR) is presently 73.25%.
In other news, CFO Hugh F. Johnston sold 37,266 shares of the company’s stock in a transaction that occurred on Thursday, October 21st. The shares were sold at an average price of $160.30, for a total transaction of $5,973,739.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.14% of the company’s stock.
PepsiCo, Inc engages in the manufacture, marketing, distribution and sale of beverages, food, and snacks. It is a food and beverage company with a complementary portfolio of brands, including Frito-Lay, Gatorade, Pepsi-Cola, Quaker, and Tropicana. It operates through the following business segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; and Africa, Middle East and South Asia The Frito-Lay North America segment markets, distributes, and sells snack foods under the Lay’s, Doritos, Cheetos, Tostitos, Fritos, Ruffles, and Santitas brands.
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