Marietta Wealth Management LLC Has $8.47 Million Position in PepsiCo, Inc. (NASDAQ:PEP)

Marietta Wealth Management LLC raised its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 4.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 49,788 shares of the company’s stock after buying an additional 1,971 shares during the period. PepsiCo makes up approximately 1.2% of Marietta Wealth Management LLC’s holdings, making the stock its 25th largest holding. Marietta Wealth Management LLC’s holdings in PepsiCo were worth $8,466,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Global Wealth Strategies & Associates lifted its position in PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after acquiring an additional 59 shares during the last quarter. Valued Wealth Advisors LLC lifted its holdings in PepsiCo by 77.5% during the 1st quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after purchasing an additional 69 shares during the last quarter. POM Investment Strategies LLC grew its holdings in PepsiCo by 141.3% in the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after buying an additional 106 shares in the last quarter. Summit Securities Group LLC bought a new position in PepsiCo during the 2nd quarter worth $30,000. Finally, Mattson Financial Services LLC bought a new stake in shares of PepsiCo in the second quarter valued at about $34,000. 73.07% of the stock is owned by institutional investors.

PepsiCo Stock Down 0.4 %

Shares of PEP opened at $174.37 on Wednesday. The stock has a market capitalization of $239.23 billion, a price-to-earnings ratio of 25.72, a PEG ratio of 3.26 and a beta of 0.53. PepsiCo, Inc. has a 52 week low of $158.03 and a 52 week high of $183.41. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The stock has a fifty day moving average of $173.90 and a 200-day moving average of $172.23.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. The business had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The firm’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter last year, the business earned $2.25 EPS. As a group, sell-side analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 6th were paid a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date was Friday, September 6th. PepsiCo’s dividend payout ratio is currently 79.94%.

Wall Street Analyst Weigh In

PEP has been the subject of several analyst reports. TD Cowen cut shares of PepsiCo from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $190.00 to $183.00 in a research note on Thursday, October 10th. Bank of America dropped their price target on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. DZ Bank downgraded PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target on the stock. in a research report on Friday, July 19th. JPMorgan Chase & Co. dropped their price objective on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Finally, Wells Fargo & Company decreased their price target on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, PepsiCo currently 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.