PepsiCo, Inc. (NASDAQ:PEP) Shares Acquired by Palisade Asset Management LLC

Palisade Asset Management LLC increased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 98,138 shares of the company’s stock after buying an additional 1,437 shares during the period. PepsiCo comprises 1.6% of Palisade Asset Management LLC’s investment portfolio, making the stock its 19th largest holding. Palisade Asset Management LLC’s holdings in PepsiCo were worth $16,688,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Empowered Funds LLC increased its stake in shares of PepsiCo by 9.2% during the third quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock worth $16,968,000 after buying an additional 8,406 shares during the period. M&G Plc increased its position in shares of PepsiCo by 3.6% in the 2nd quarter. M&G Plc now owns 426,269 shares of the company’s stock valued at $70,334,000 after purchasing an additional 14,724 shares during the last quarter. Pinnacle Financial Partners Inc lifted its position in shares of PepsiCo by 3.5% during the 3rd quarter. Pinnacle Financial Partners Inc now owns 135,331 shares of the company’s stock worth $23,013,000 after purchasing an additional 4,547 shares during the last quarter. Fiduciary Family Office LLC increased its holdings in PepsiCo by 119.6% in the third quarter. Fiduciary Family Office LLC now owns 6,843 shares of the company’s stock valued at $1,164,000 after buying an additional 3,727 shares during the last quarter. Finally, Empower Advisory Group LLC raised its stake in PepsiCo by 4.6% in the third quarter. Empower Advisory Group LLC now owns 378,902 shares of the company’s stock valued at $64,432,000 after buying an additional 16,523 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Stock Up 1.0 %

PepsiCo stock opened at $162.00 on Friday. The stock has a 50 day moving average of $169.01 and a two-hundred day moving average of $170.98. PepsiCo, Inc. has a twelve month low of $155.85 and a twelve month high of $183.41. The stock has a market capitalization of $222.26 billion, a price-to-earnings ratio of 23.89, a PEG ratio of 2.99 and a beta of 0.53. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96.

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

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 6th will be issued a dividend of $1.355 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $5.42 annualized dividend and a yield of 3.35%. PepsiCo’s dividend payout ratio is currently 79.94%.

Analyst Ratings Changes

A number of research firms have recently commented on PEP. Barclays dropped their price objective on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. TD Cowen cut shares of PepsiCo from a “buy” rating to a “hold” rating and cut their price objective for the stock from $190.00 to $183.00 in a report on Thursday, October 10th. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. cut their price target on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Finally, Bank of America dropped their price objective on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $183.92.

About PepsiCo

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.