Viking Fund Management LLC Increases Position in PepsiCo, Inc. (NASDAQ:PEP)

Viking Fund Management LLC boosted its stake in PepsiCo, Inc. (NASDAQ:PEP) by 8.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 66,000 shares of the company’s stock after buying an additional 5,000 shares during the period. PepsiCo accounts for approximately 1.8% of Viking Fund Management LLC’s portfolio, making the stock its 10th largest position. Viking Fund Management LLC’s holdings in PepsiCo were worth $11,223,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Capital Advisors Ltd. LLC increased its stake in shares of PepsiCo by 3.6% in the 1st quarter. Capital Advisors Ltd. LLC now owns 3,961 shares of the company’s stock worth $693,000 after purchasing an additional 139 shares in the last quarter. Norden Group LLC raised its stake in shares of PepsiCo by 3,345.6% in the first quarter. Norden Group LLC now owns 179,377 shares of the company’s stock valued at $31,391,000 after acquiring an additional 174,171 shares during the period. Marion Wealth Management boosted its position in shares of PepsiCo by 6.3% during the first quarter. Marion Wealth Management now owns 8,382 shares of the company’s stock valued at $1,467,000 after buying an additional 494 shares during the period. Meyer Handelman Co. grew its position in PepsiCo by 3.9% in the 1st quarter. Meyer Handelman Co. now owns 253,769 shares of the company’s stock valued at $44,412,000 after acquiring an additional 9,465 shares during the last quarter. Finally, Global Assets Advisory LLC purchased a new position in PepsiCo in the 1st quarter worth about $28,366,000. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Stock Performance

PEP traded up $1.82 on Friday, hitting $174.81. 4,720,299 shares of the company’s stock were exchanged, compared to its average volume of 5,510,471. The firm has a market cap of $240.33 billion, a PE ratio of 25.37, a P/E/G ratio of 3.11 and a beta of 0.53. The stock has a fifty day moving average of $173.52 and a two-hundred day moving average of $172.08. PepsiCo, Inc. has a twelve month low of $157.43 and a twelve month high of $183.41. The company has a current ratio of 0.89, a quick ratio of 0.64 and a debt-to-equity ratio of 1.96.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The company had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. During the same period in the previous year, the firm earned $2.25 earnings per share. PepsiCo’s revenue for the quarter was down .6% compared to the same quarter last year. On average, research analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 6th were paid a $1.355 dividend. The ex-dividend date was Friday, September 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.10%. PepsiCo’s dividend payout ratio (DPR) is currently 78.66%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. DZ Bank cut PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective for the company. in a research note on Friday, July 19th. BNP Paribas initiated coverage on PepsiCo in a research report on Monday, June 24th. They set a “neutral” rating and a $174.00 price target on the stock. Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research note on Thursday. Jefferies Financial Group reduced their price objective on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Finally, TD Cowen cut PepsiCo from a “buy” rating to a “hold” rating and lowered their target price for the stock from $190.00 to $183.00 in a report on Thursday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $183.92.

PepsiCo Company Profile

PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of various beverages and convenient foods worldwide. The company operates through seven segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region.