Independent Solutions Wealth Management LLC Has $572,000 Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Independent Solutions Wealth Management LLC lifted its position in PepsiCo, Inc. (NASDAQ:PEP) by 27.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,361 shares of the company’s stock after purchasing an additional 719 shares during the quarter. Independent Solutions Wealth Management LLC’s holdings in PepsiCo were worth $572,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Global Wealth Strategies & Associates increased its stake in PepsiCo by 59.0% in 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 in the last quarter. Highline Wealth Partners LLC bought a new stake in PepsiCo in the 3rd quarter valued at approximately $28,000. POM Investment Strategies LLC grew its stake in PepsiCo by 141.3% in the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after purchasing an additional 106 shares in the last quarter. Summit Securities Group LLC acquired a new position in shares of PepsiCo during the 2nd quarter worth about $30,000. Finally, Legacy Investment Solutions LLC bought a new position in PepsiCo during the third quarter worth $31,000. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Price Performance

NASDAQ:PEP traded down $1.59 during trading hours on Thursday, hitting $152.84. The stock had a trading volume of 3,818,172 shares, compared to its average volume of 5,519,633. PepsiCo, Inc. has a one year low of $152.13 and a one year high of $183.41. The company has a 50 day simple moving average of $164.87 and a two-hundred day simple moving average of $168.62. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. The firm has a market capitalization of $209.69 billion, a price-to-earnings ratio of 22.54, a P/E/G ratio of 2.94 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last issued its 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 company 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%. PepsiCo’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.25 EPS. Research analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Stockholders 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 dividend yield of 3.55%. PepsiCo’s payout ratio is presently 79.94%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PEP. Barclays dropped their price target on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Bank of America dropped their price objective on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. JPMorgan Chase & Co. dropped their price target on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. TD Cowen cut shares of PepsiCo from a “buy” rating to a “hold” rating and dropped their target price for the company from $190.00 to $183.00 in a research report on Thursday, October 10th. Finally, Morgan Stanley downgraded PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price for the company. in a research note on Friday, September 20th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, PepsiCo has a consensus rating of “Hold” and an average target price of $184.31.

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.