PepsiCo, Inc. $PEP Shares Acquired by Synergy Asset Management LLC

Synergy Asset Management LLC increased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 183.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,901 shares of the company’s stock after purchasing an additional 15,468 shares during the quarter. Synergy Asset Management LLC’s holdings in PepsiCo were worth $3,215,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of PepsiCo by 1.3% in the second quarter. Vanguard Group Inc. now owns 136,936,037 shares of the company’s stock valued at $18,081,034,000 after acquiring an additional 1,761,785 shares in the last quarter. State Street Corp raised its holdings in PepsiCo by 1.6% during the second quarter. State Street Corp now owns 58,419,849 shares of the company’s stock worth $7,713,757,000 after purchasing an additional 920,045 shares in the last quarter. Geode Capital Management LLC lifted its position in PepsiCo by 0.3% in the second quarter. Geode Capital Management LLC now owns 32,675,492 shares of the company’s stock valued at $4,301,240,000 after purchasing an additional 86,695 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in PepsiCo by 9.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 29,031,404 shares of the company’s stock valued at $3,833,406,000 after purchasing an additional 2,556,163 shares in the last quarter. Finally, Norges Bank acquired a new position in PepsiCo during the 2nd quarter worth approximately $2,330,594,000. 73.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PEP shares. Rothschild & Co Redburn lifted their price target on PepsiCo from $117.00 to $120.00 and gave the company a “sell” rating in a research note on Monday, December 15th. UBS Group reiterated a “buy” rating and issued a $172.00 price objective on shares of PepsiCo in a research report on Tuesday, December 9th. Weiss Ratings restated a “hold (c)” rating on shares of PepsiCo in a research report on Tuesday, October 14th. Evercore ISI upped their price target on shares of PepsiCo from $150.00 to $152.00 in a research note on Friday, October 10th. Finally, Barclays raised their price objective on shares of PepsiCo from $142.00 to $144.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 10th. Eight analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $158.75.

PepsiCo Trading Down 0.9%

Shares of PEP stock opened at $142.23 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 business has a fifty day simple moving average of $146.37 and a 200-day simple moving average of $143.75. The stock has a market cap of $194.48 billion, a P/E ratio of 27.04, a P/E/G ratio of 4.70 and a beta of 0.42.

PepsiCo (NASDAQ:PEP) last issued 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. The firm had revenue of $23.94 billion for the quarter, compared to analysts’ expectations of $23.91 billion. PepsiCo had a net margin of 7.82% and a return on equity of 57.58%. The firm’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the company earned $2.31 EPS. On average, analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Friday, December 5th will be given a dividend of $1.4225 per share. This represents a $5.69 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Friday, December 5th. PepsiCo’s payout ratio 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.