Asset Management Group Inc. Has $6.36 Million Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Asset Management Group Inc. reduced its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 37,394 shares of the company’s stock after selling 874 shares during the quarter. PepsiCo makes up 1.1% of Asset Management Group Inc.’s holdings, making the stock its 28th largest holding. Asset Management Group Inc.’s holdings in PepsiCo were worth $6,359,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of PEP. Global Wealth Strategies & Associates increased its position in shares of PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares during the period. Highline Wealth Partners LLC bought a new stake in PepsiCo in the 3rd quarter valued at $28,000. POM Investment Strategies LLC raised its stake in shares of 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 shares of PepsiCo during the 2nd quarter worth about $30,000. Finally, Mattson Financial Services LLC bought a new stake in PepsiCo in the second quarter valued at about $34,000. 73.07% of the stock is owned by institutional investors.

PepsiCo Stock Up 1.0 %

Shares of PEP opened at $160.29 on Friday. The business’s fifty day moving average price is $169.32 and its two-hundred day moving average price is $171.08. The firm has a market capitalization of $219.92 billion, a price-to-earnings ratio of 23.64, a PEG ratio of 2.92 and a beta of 0.53. PepsiCo, Inc. has a 52 week low of $155.85 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.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.01. The business had revenue of $23.32 billion for 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 quarterly revenue was down .6% compared to the same quarter last year. During the same quarter last year, the business earned $2.25 earnings per share. On average, analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 6th will be issued a $1.355 dividend. The ex-dividend date is Friday, December 6th. This represents a $5.42 annualized dividend and a yield of 3.38%. PepsiCo’s dividend payout ratio is currently 79.94%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Morgan Stanley cut shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target for the company. in a research note on Friday, September 20th. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. cut 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, Bank of America lowered their target price on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price 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.