Cadent Capital Advisors LLC Has $3.40 Million Stake in PepsiCo, Inc. $PEP

Cadent Capital Advisors LLC boosted its position in PepsiCo, Inc. (NASDAQ:PEP) by 18.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,181 shares of the company’s stock after purchasing an additional 3,680 shares during the period. Cadent Capital Advisors LLC’s holdings in PepsiCo were worth $3,396,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Nova Wealth Management Inc. bought a new position in PepsiCo in the 1st quarter valued at approximately $25,000. Evolution Wealth Management Inc. bought a new stake in PepsiCo during the 2nd quarter worth approximately $27,000. Legend Financial Advisors Inc. acquired a new position in PepsiCo in the 2nd quarter valued at approximately $29,000. Vermillion & White Wealth Management Group LLC raised its stake in shares of PepsiCo by 107.1% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 234 shares of the company’s stock valued at $31,000 after acquiring an additional 121 shares during the last quarter. Finally, Frazier Financial Advisors LLC lifted its holdings in shares of PepsiCo by 85.3% during the second quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock worth $35,000 after purchasing an additional 122 shares during the period. 73.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on PEP shares. Jefferies Financial Group increased their price objective on PepsiCo from $163.00 to $164.00 and gave the company a “hold” rating in a report on Tuesday, December 9th. Evercore ISI increased their price target on PepsiCo from $150.00 to $152.00 in a research note on Friday, October 10th. Wells Fargo & Company raised their price objective on PepsiCo from $150.00 to $154.00 and gave the stock a “positive” rating in a research report on Friday, October 10th. JPMorgan Chase & Co. upgraded PepsiCo from a “neutral” rating to an “overweight” rating and upped their target price for the company from $151.00 to $164.00 in a report on Wednesday, December 10th. Finally, Piper Sandler raised their price target on shares of PepsiCo from $161.00 to $172.00 and gave the stock an “overweight” rating in a report on Tuesday, December 9th. Eight research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $158.75.

PepsiCo Stock Down 0.0%

Shares of NASDAQ PEP opened at $143.64 on Thursday. The stock has a market capitalization of $196.40 billion, a P/E ratio of 27.31, a P/E/G ratio of 4.96 and a beta of 0.42. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.91 and a quick ratio of 0.72. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $160.15. The company has a 50-day moving average price of $147.65 and a 200-day moving average price of $143.23.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Wednesday, October 8th. The company reported $2.29 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.03. The company had revenue of $23.94 billion for the quarter, compared to analyst estimates of $23.91 billion. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the company earned $2.31 earnings per share. On average, equities research analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Friday, December 5th will be paid a $1.4225 dividend. The ex-dividend date is Friday, December 5th. This represents a $5.69 annualized dividend and a dividend yield of 4.0%. PepsiCo’s dividend payout ratio is presently 108.17%.

PepsiCo Company Profile

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.