PepsiCo, Inc. (NASDAQ:PEP) Shares Purchased by Covington Investment Advisors Inc.

Covington Investment Advisors Inc. boosted its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 1.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 25,638 shares of the company’s stock after buying an additional 281 shares during the period. Covington Investment Advisors Inc.’s holdings in PepsiCo were worth $4,360,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of PEP. Meixler Investment Management Ltd. lifted its position in shares of PepsiCo by 4.4% in the second quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company’s stock worth $228,000 after buying an additional 58 shares during the last quarter. Opes Wealth Management LLC lifted its holdings in PepsiCo by 2.2% in the 2nd quarter. Opes Wealth Management LLC now owns 2,748 shares of the company’s stock worth $453,000 after purchasing an additional 59 shares during the last quarter. Global Wealth Strategies & Associates grew its holdings in 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 last quarter. Bank of Stockton raised its position in shares of PepsiCo by 2.3% in the second quarter. Bank of Stockton now owns 2,716 shares of the company’s stock valued at $448,000 after purchasing an additional 60 shares during the period. Finally, Oxbow Advisors LLC boosted its holdings in shares of PepsiCo by 0.7% during the 2nd quarter. Oxbow Advisors LLC now owns 8,982 shares of the company’s stock worth $1,481,000 after buying an additional 60 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Performance

Shares of NASDAQ:PEP opened at $163.05 on Tuesday. 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 business’s fifty day moving average price is $168.73 and its two-hundred day moving average price is $170.78. PepsiCo, Inc. has a fifty-two week low of $155.85 and a fifty-two week high of $183.41. The stock has a market capitalization of $223.70 billion, a price-to-earnings ratio of 24.05, a price-to-earnings-growth ratio of 3.02 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.25 earnings per share. As a group, analysts predict that PepsiCo, Inc. will post 8.15 EPS 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 paid 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 3.32%. PepsiCo’s dividend payout ratio (DPR) is currently 79.94%.

Analyst Upgrades and Downgrades

PEP has been the subject of several research analyst reports. Hsbc Global Res raised PepsiCo to a “hold” rating in a research report on Thursday, October 10th. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Barclays dropped their target price on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Royal Bank of Canada decreased their price target on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. Finally, TD Cowen lowered shares of PepsiCo from a “buy” rating to a “hold” rating and cut their price objective for the company from $190.00 to $183.00 in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus 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.