IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 3.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 89,044 shares of the company's stock after purchasing an additional 3,297 shares during the quarter. PepsiCo makes up 1.6% of IQ EQ FUND MANAGEMENT IRELAND Ltd's holdings, making the stock its 8th largest position. IQ EQ FUND MANAGEMENT IRELAND Ltd's holdings in PepsiCo were worth $15,142,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently added to or reduced their stakes in PEP. Global Wealth Strategies & Associates increased its position in PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company's stock valued at $27,000 after buying an additional 59 shares in the last quarter. Valued Wealth Advisors LLC increased its holdings in shares of PepsiCo by 77.5% in the first quarter. Valued Wealth Advisors LLC now owns 158 shares of the company's stock valued at $28,000 after purchasing an additional 69 shares during the period. POM Investment Strategies LLC increased its holdings in shares of 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 during the period. Summit Securities Group LLC acquired a new stake in PepsiCo during the second quarter worth about $30,000. Finally, Mattson Financial Services LLC purchased a new position in PepsiCo during the second quarter valued at approximately $34,000. 73.07% of the stock is owned by institutional investors and hedge funds.
Several research analysts recently weighed in on PEP shares. Royal Bank of Canada reduced their price target on PepsiCo from $177.00 to $176.00 and set a "sector perform" rating for the company in a research report on Friday, October 4th. StockNews.com cut PepsiCo from a "buy" rating to a "hold" rating in a research report on Thursday. TD Cowen cut PepsiCo from a "buy" rating to a "hold" rating and reduced their price target for the company from $190.00 to $183.00 in a research report on Thursday, October 10th. JPMorgan Chase & Co. reduced their price target on PepsiCo from $185.00 to $183.00 and set a "neutral" rating for the company in a research report on Wednesday, October 9th. Finally, Jefferies Financial Group reduced their price target on PepsiCo from $210.00 to $200.00 and set a "buy" rating for the company in a research report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $183.92.
Read Our Latest Stock Report on PEP
Shares of NASDAQ:PEP opened at $174.48 on Thursday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.64. The business's 50 day moving average price is $173.68 and its 200-day moving average price is $172.10. The firm has a market capitalization of $239.87 billion, a PE ratio of 25.32, a P/E/G ratio of 3.11 and a beta of 0.53. PepsiCo, Inc. has a 1 year low of $158.03 and a 1 year high of $183.41.
PepsiCo (NASDAQ:PEP - Get Free Report) last issued its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.30 by $0.01. The firm had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The business's revenue was down .6% on a year-over-year basis. During the same period in the previous year, the company posted $2.25 earnings per share. As a group, equities research analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 6th were paid a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date was Friday, September 6th. PepsiCo's dividend payout ratio (DPR) is currently 78.66%.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider PepsiCo, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and PepsiCo wasn't on the list.
While PepsiCo currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.