PepsiCo, Inc. $PEP Shares Bought by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al increased its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 50.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 272,816 shares of the company’s stock after acquiring an additional 91,300 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in PepsiCo were worth $38,314,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Generate Investment Management Ltd purchased a new position in shares of PepsiCo during the 3rd quarter valued at approximately $10,162,000. Lewis Asset Management LLC boosted its stake in PepsiCo by 18.7% during the 3rd quarter. Lewis Asset Management LLC now owns 3,581 shares of the company’s stock valued at $503,000 after acquiring an additional 563 shares during the last quarter. Ascent Group LLC grew its holdings in PepsiCo by 36.7% during the 3rd quarter. Ascent Group LLC now owns 42,508 shares of the company’s stock worth $5,970,000 after acquiring an additional 11,420 shares in the last quarter. McGlone Suttner Wealth Management Inc. increased its position in shares of PepsiCo by 6.9% in the 3rd quarter. McGlone Suttner Wealth Management Inc. now owns 7,865 shares of the company’s stock worth $1,105,000 after purchasing an additional 509 shares during the last quarter. Finally, Sivia Capital Partners LLC lifted its position in shares of PepsiCo by 62.8% during the third quarter. Sivia Capital Partners LLC now owns 10,629 shares of the company’s stock worth $1,493,000 after purchasing an additional 4,102 shares during the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PEP has been the subject of several research analyst reports. Piper Sandler boosted their price objective on PepsiCo from $161.00 to $172.00 and gave the company an “overweight” rating in a report on Tuesday, December 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of PepsiCo in a research report on Tuesday, October 14th. Bank of America upped their price target on PepsiCo from $150.00 to $155.00 and gave the company a “neutral” rating in a research report on Friday, October 10th. Royal Bank Of Canada decreased their price objective on shares of PepsiCo from $146.00 to $145.00 and set a “sector perform” rating for the company in a report on Monday, September 15th. Finally, The Goldman Sachs Group boosted their target price on shares of PepsiCo from $165.00 to $167.00 and gave the company a “buy” rating in a research note on Friday, October 10th. Eight equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, PepsiCo has an average rating of “Hold” and a consensus target price of $158.75.

PepsiCo Stock Down 0.1%

PEP stock opened at $144.16 on Wednesday. The stock has a market cap of $197.12 billion, a PE ratio of 27.41, a price-to-earnings-growth ratio of 4.98 and a beta of 0.42. The firm’s 50-day simple moving average is $146.91 and its 200 day simple moving average is $143.68. 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.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Wednesday, October 8th. The company reported $2.29 earnings per share (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 analyst estimates of $23.91 billion. During the same period in the previous year, the business posted $2.31 EPS. PepsiCo’s revenue was up 2.7% on a year-over-year basis. As a group, sell-side analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Friday, December 5th will be given a $1.4225 dividend. This represents a $5.69 annualized dividend and a yield of 3.9%. The ex-dividend date is Friday, December 5th. PepsiCo’s dividend payout ratio (DPR) is currently 108.17%.

About PepsiCo

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.