Bard Financial Services Inc. Increases Stock Holdings in PepsiCo, Inc. $PEP

Bard Financial Services Inc. lifted its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 5.9% in the third quarter, HoldingsChannel.com reports. The fund owned 79,231 shares of the company’s stock after acquiring an additional 4,395 shares during the period. PepsiCo makes up 1.2% of Bard Financial Services Inc.’s investment portfolio, making the stock its 18th largest position. Bard Financial Services Inc.’s holdings in PepsiCo were worth $11,127,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Nova Wealth Management Inc. bought a new stake in shares of PepsiCo in the first quarter valued at $25,000. Evolution Wealth Management Inc. purchased a new position in shares of PepsiCo in the second quarter valued at $27,000. Legend Financial Advisors Inc. bought a new stake in shares of PepsiCo during the second quarter valued at about $29,000. Vermillion & White Wealth Management Group LLC lifted its stake in PepsiCo by 107.1% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 234 shares of the company’s stock worth $31,000 after purchasing an additional 121 shares in the last quarter. Finally, Halbert Hargrove Global Advisors LLC raised its position in shares of PepsiCo by 667.7% in the third quarter. Halbert Hargrove Global Advisors LLC now owns 238 shares of the company’s stock worth $33,000 after buying an additional 207 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Up 0.0%

NASDAQ PEP opened at $143.78 on Friday. The firm has a market capitalization of $196.60 billion, a PE ratio of 27.33, a P/E/G ratio of 4.96 and a beta of 0.42. The stock’s 50 day moving average is $147.27 and its 200 day moving average is $143.41. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $160.15. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26.

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

PepsiCo Announces Dividend

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

Wall Street Analyst Weigh In

PEP has been the topic of a number of recent analyst reports. Piper Sandler raised their target price on shares of PepsiCo from $161.00 to $172.00 and gave the company an “overweight” rating in a research note on Tuesday, December 9th. Wall Street Zen cut shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Saturday. Citigroup upped their target price on shares of PepsiCo from $165.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, December 17th. Rothschild & Co Redburn raised their price target on PepsiCo from $117.00 to $120.00 and gave the company a “sell” rating in a research report on Monday, December 15th. Finally, JPMorgan Chase & Co. upgraded PepsiCo from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $151.00 to $164.00 in a report on Wednesday, December 10th. Eight research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, PepsiCo currently has a consensus rating of “Hold” and a consensus price target of $158.75.

PepsiCo 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.