Foster Victor Wealth Advisors LLC Increases Holdings in PepsiCo, Inc. $PEP

Foster Victor Wealth Advisors LLC raised its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 4.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 98,065 shares of the company’s stock after acquiring an additional 4,399 shares during the quarter. Foster Victor Wealth Advisors LLC’s holdings in PepsiCo were worth $13,923,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Claris Advisors LLC MO boosted its holdings in shares of PepsiCo by 14.1% in the 2nd quarter. Claris Advisors LLC MO now owns 2,490 shares of the company’s stock valued at $329,000 after buying an additional 308 shares in the last quarter. Foster Group Inc. lifted its position in PepsiCo by 4.6% in the second quarter. Foster Group Inc. now owns 5,169 shares of the company’s stock valued at $683,000 after acquiring an additional 229 shares during the last quarter. Merit Financial Group LLC boosted its stake in PepsiCo by 46.4% in the second quarter. Merit Financial Group LLC now owns 114,344 shares of the company’s stock valued at $15,098,000 after acquiring an additional 36,239 shares in the last quarter. Fulton Bank N.A. grew its holdings in shares of PepsiCo by 2.5% during the second quarter. Fulton Bank N.A. now owns 25,309 shares of the company’s stock worth $3,342,000 after purchasing an additional 620 shares during the last quarter. Finally, Naples Global Advisors LLC increased its position in shares of PepsiCo by 2.3% during the second quarter. Naples Global Advisors LLC now owns 26,270 shares of the company’s stock worth $3,469,000 after purchasing an additional 592 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Down 0.8%

Shares of NASDAQ:PEP opened at $148.16 on Friday. PepsiCo, Inc. has a fifty-two week low of $127.60 and a fifty-two week high of $160.15. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26. The firm’s 50-day simple moving average is $148.00 and its 200-day simple moving average is $142.94. The company has a market cap of $202.59 billion, a price-to-earnings ratio of 28.17, a PEG ratio of 5.11 and a beta of 0.42.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Wednesday, October 8th. The company reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.03. PepsiCo had a net margin of 7.82% and a return on equity of 57.58%. The firm had revenue of $23.94 billion during the quarter, compared to the consensus estimate of $23.91 billion. During the same quarter last year, the firm earned $2.31 earnings per share. The firm’s revenue was up 2.7% compared to the same quarter last year. As a group, equities research analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Friday, December 5th will be paid a $1.4225 dividend. The ex-dividend date is Friday, December 5th. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.8%. PepsiCo’s payout ratio is 108.17%.

Analyst Upgrades and Downgrades

PEP has been the topic of a number of research reports. The Goldman Sachs Group raised their price target on PepsiCo from $165.00 to $167.00 and gave the stock a “buy” rating in a research note on Friday, October 10th. Jefferies Financial Group raised their target price on shares of PepsiCo from $163.00 to $164.00 and gave the stock a “hold” rating in a research report on Tuesday, December 9th. Barclays upped their price target on shares of PepsiCo from $142.00 to $144.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 10th. Loop Capital set a $164.00 price objective on shares of PepsiCo in a research note on Thursday, October 23rd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of PepsiCo in a report on Tuesday, October 14th. Eight analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $158.75.

PepsiCo Profile

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.