Truvestments Capital LLC Acquires 134 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Truvestments Capital LLC grew its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 5.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,732 shares of the company’s stock after purchasing an additional 134 shares during the period. Truvestments Capital LLC’s holdings in PepsiCo were worth $465,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of PEP. Empowered Funds LLC grew its position in PepsiCo by 9.2% in the 3rd quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock worth $16,968,000 after purchasing an additional 8,406 shares during the period. Meridian Wealth Management LLC bought a new stake in shares of PepsiCo in the third quarter worth $9,589,000. M&G Plc increased its position in PepsiCo by 3.6% during the second quarter. M&G Plc now owns 426,269 shares of the company’s stock valued at $70,334,000 after acquiring an additional 14,724 shares during the last quarter. Pinnacle Financial Partners Inc lifted its holdings in PepsiCo by 3.5% in the third quarter. Pinnacle Financial Partners Inc now owns 135,331 shares of the company’s stock valued at $23,013,000 after acquiring an additional 4,547 shares during the period. Finally, Fiduciary Family Office LLC boosted its position in PepsiCo by 119.6% in the third quarter. Fiduciary Family Office LLC now owns 6,843 shares of the company’s stock worth $1,164,000 after purchasing an additional 3,727 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Up 0.6 %

Shares of PepsiCo stock opened at $163.05 on Tuesday. PepsiCo, Inc. has a twelve month low of $155.85 and a twelve month high of $183.41. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The business has a 50-day moving average price of $168.73 and a 200-day moving average price of $170.78. The firm has a market cap of $223.70 billion, a price-to-earnings ratio of 24.05, a PEG ratio of 3.02 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.01. The business had revenue of $23.32 billion during the quarter, compared to analysts’ expectations of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter last year, the business posted $2.25 EPS. Equities research analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 6th will be given a dividend of $1.355 per share. The ex-dividend date is Friday, December 6th. This represents a $5.42 annualized dividend and a yield of 3.32%. PepsiCo’s dividend payout ratio (DPR) is currently 79.94%.

Analyst Upgrades and Downgrades

PEP has been the topic of several recent research reports. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Bank of America decreased their price target on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a research report on Thursday, October 10th. TD Cowen cut PepsiCo from a “buy” rating to a “hold” rating and decreased their target price for the stock from $190.00 to $183.00 in a report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $183.92.

PepsiCo 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.