DoubleLine ETF Adviser LP Buys Shares of 29,277 PepsiCo, Inc. $PEP

DoubleLine ETF Adviser LP purchased a new position in shares of PepsiCo, Inc. (NASDAQ:PEP) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 29,277 shares of the company’s stock, valued at approximately $4,112,000. PepsiCo accounts for approximately 1.2% of DoubleLine ETF Adviser LP’s portfolio, making the stock its 21st biggest holding.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Three Bridge Wealth Advisors LLC increased its stake in shares of PepsiCo by 1.8% in the third quarter. Three Bridge Wealth Advisors LLC now owns 3,870 shares of the company’s stock worth $544,000 after purchasing an additional 68 shares in the last quarter. Facet Wealth Inc. boosted its holdings in PepsiCo by 3.2% in the 3rd quarter. Facet Wealth Inc. now owns 2,221 shares of the company’s stock worth $312,000 after buying an additional 69 shares during the period. Hudock Inc. raised its holdings in PepsiCo by 1.0% during the 3rd quarter. Hudock Inc. now owns 7,079 shares of the company’s stock valued at $994,000 after acquiring an additional 70 shares during the period. Delta Asset Management LLC TN raised its holdings in PepsiCo by 0.6% during the 3rd quarter. Delta Asset Management LLC TN now owns 11,000 shares of the company’s stock valued at $1,545,000 after acquiring an additional 70 shares during the period. Finally, Westside Investment Management Inc. lifted its position in shares of PepsiCo by 2.8% during the third quarter. Westside Investment Management Inc. now owns 2,602 shares of the company’s stock worth $366,000 after acquiring an additional 70 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Stock Up 0.6%

PEP stock opened at $159.88 on Friday. PepsiCo, Inc. has a one year low of $127.60 and a one year high of $171.48. The company has a 50 day moving average price of $156.71 and a two-hundred day moving average price of $149.69. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.67 and a current ratio of 0.85. The stock has a market capitalization of $218.50 billion, a P/E ratio of 26.65, a PEG ratio of 3.07 and a beta of 0.39.

PepsiCo (NASDAQ:PEP) last released its earnings results on Monday, February 2nd. The company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.24 by $0.02. PepsiCo had a return on equity of 57.92% and a net margin of 8.77%.The firm had revenue of $29.34 billion during the quarter, compared to analyst estimates of $28.96 billion. During the same period in the prior year, the firm posted $1.96 earnings per share. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. As a group, sell-side analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be issued a dividend of $1.4225 per share. This represents a $5.69 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Friday, March 6th. PepsiCo’s dividend payout ratio is presently 94.83%.

PepsiCo declared that its Board of Directors has approved a stock repurchase program on Tuesday, February 3rd that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the company to buy up to 4.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on PEP shares. UBS Group reiterated a “buy” rating and set a $190.00 price objective on shares of PepsiCo in a research note on Wednesday, February 4th. Rothschild & Co Redburn upped their price target on PepsiCo from $120.00 to $130.00 and gave the company a “sell” rating in a research report on Tuesday, February 10th. Barclays raised their price objective on shares of PepsiCo from $148.00 to $160.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 4th. Evercore upped their target price on shares of PepsiCo from $152.00 to $165.00 in a report on Wednesday, February 4th. Finally, Morgan Stanley raised their price target on shares of PepsiCo from $165.00 to $180.00 and gave the company an “equal weight” rating in a report on Wednesday, February 4th. Eight equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $169.00.

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.