Perigon Wealth Management LLC Buys 12,099 Shares of PepsiCo, Inc. $PEP

Perigon Wealth Management LLC grew its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 32.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 49,635 shares of the company’s stock after acquiring an additional 12,099 shares during the quarter. Perigon Wealth Management LLC’s holdings in PepsiCo were worth $6,971,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank bought a new position in PepsiCo during the 2nd quarter worth approximately $2,330,594,000. Laurel Wealth Advisors LLC raised its holdings in PepsiCo by 14,420.2% in the second quarter. Laurel Wealth Advisors LLC now owns 3,890,688 shares of the company’s stock worth $513,726,000 after purchasing an additional 3,863,893 shares during the period. Kingstone Capital Partners Texas LLC bought a new position in shares of PepsiCo during the second quarter worth $460,110,000. Charles Schwab Investment Management Inc. grew its holdings in shares of PepsiCo by 9.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 29,031,404 shares of the company’s stock valued at $3,833,406,000 after buying an additional 2,556,163 shares during the period. Finally, Franklin Resources Inc. increased its position in shares of PepsiCo by 19.5% in the 2nd quarter. Franklin Resources Inc. now owns 15,577,073 shares of the company’s stock valued at $2,056,797,000 after buying an additional 2,541,455 shares in the last quarter. 73.07% of the stock is owned by institutional investors.

PepsiCo Price Performance

Shares of PEP opened at $143.78 on Monday. 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, Inc. has a twelve month low of $127.60 and a twelve month high of $160.15. The stock has a market capitalization of $196.60 billion, a P/E ratio of 27.33, a P/E/G ratio of 4.96 and a beta of 0.42. The company has a 50 day moving average of $147.27 and a 200-day moving average of $143.50.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Wednesday, October 8th. The company reported $2.29 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.03. The business had revenue of $23.94 billion for 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%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.31 earnings per share. As a group, equities research analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Friday, December 5th will be issued 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 (DPR) is presently 108.17%.

Analyst Ratings Changes

PEP has been the topic of several recent analyst reports. HSBC lifted their target price on PepsiCo from $145.00 to $152.00 and gave the stock a “hold” rating in a report on Friday, October 10th. JPMorgan Chase & Co. upgraded PepsiCo from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $151.00 to $164.00 in a report on Wednesday, December 10th. Wells Fargo & Company increased their target price on PepsiCo from $150.00 to $154.00 and gave the stock a “positive” rating in a research note on Friday, October 10th. Rothschild & Co Redburn lifted their price target on shares of PepsiCo from $117.00 to $120.00 and gave the company a “sell” rating in a research note on Monday, December 15th. Finally, Evercore ISI upped their price target on shares of PepsiCo from $150.00 to $152.00 in a report on Friday, October 10th. Eight equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, PepsiCo has an average rating of “Hold” and a consensus target price of $158.75.

About PepsiCo

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.