Ables Iannone Moore & Associates Inc. Purchases 696 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Ables Iannone Moore & Associates Inc. increased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 9.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 7,887 shares of the company’s stock after purchasing an additional 696 shares during the period. PepsiCo makes up about 0.7% of Ables Iannone Moore & Associates Inc.’s portfolio, making the stock its 26th biggest position. Ables Iannone Moore & Associates Inc.’s holdings in PepsiCo were worth $1,199,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Global Wealth Strategies & Associates boosted its stake 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 in the last quarter. Highline Wealth Partners LLC purchased a new position in shares of PepsiCo in the 3rd quarter valued at $28,000. Legacy Investment Solutions LLC bought a new position in shares of PepsiCo in the 3rd quarter worth $31,000. Rakuten Securities Inc. lifted its stake in shares of PepsiCo by 93.2% during the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after purchasing an additional 96 shares during the last quarter. Finally, Mattson Financial Services LLC purchased a new position in PepsiCo in the second quarter valued at about $34,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Stock Performance

NASDAQ:PEP traded down $3.38 during trading hours on Monday, reaching $146.27. The company had a trading volume of 9,448,868 shares, compared to its average volume of 5,480,249. The firm has a market cap of $200.68 billion, a PE ratio of 21.57, a price-to-earnings-growth ratio of 2.94 and a beta of 0.54. PepsiCo, Inc. has a 1-year low of $146.10 and a 1-year high of $183.41. The business’s 50 day moving average price is $159.51 and its 200-day moving average price is $167.26. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70.

PepsiCo (NASDAQ:PEP) last announced its 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 business 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 business’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the prior year, the company posted $2.25 EPS. Research analysts forecast that PepsiCo, Inc. will post 8.15 EPS 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 given a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.71%. The ex-dividend date of this dividend is Friday, December 6th. PepsiCo’s payout ratio is 79.94%.

Wall Street Analysts Forecast Growth

PEP has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Bank of America reduced their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. TD Cowen cut PepsiCo from a “buy” rating to a “hold” rating and decreased their price target for the company from $190.00 to $183.00 in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft upgraded PepsiCo from a “hold” rating to a “buy” rating and boosted their price target for the stock from $179.00 to $184.00 in a research note on Thursday, December 12th. Finally, Morgan Stanley cut shares of 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 equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $184.31.

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.