Monument Capital Management Purchases New Shares in PepsiCo, Inc. $PEP

Monument Capital Management purchased a new position in PepsiCo, Inc. (NASDAQ:PEP) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,225 shares of the company’s stock, valued at approximately $593,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of PepsiCo by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 136,936,037 shares of the company’s stock worth $18,081,034,000 after purchasing an additional 1,761,785 shares during the period. State Street Corp boosted its position in shares of PepsiCo by 1.6% during the second quarter. State Street Corp now owns 58,419,849 shares of the company’s stock valued at $7,713,757,000 after buying an additional 920,045 shares during the period. Geode Capital Management LLC grew its stake in shares of PepsiCo by 0.3% during the second quarter. Geode Capital Management LLC now owns 32,675,492 shares of the company’s stock valued at $4,301,240,000 after buying an additional 86,695 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of PepsiCo by 9.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 29,031,404 shares of the company’s stock worth $3,833,406,000 after buying an additional 2,556,163 shares during the period. Finally, Norges Bank bought a new stake in shares of PepsiCo during the 2nd quarter worth approximately $2,330,594,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Down 0.7%

NASDAQ PEP opened at $147.05 on Tuesday. PepsiCo, Inc. has a one year low of $127.60 and a one year high of $160.15. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.72 and a current ratio of 0.91. The company has a market capitalization of $201.07 billion, a price-to-earnings ratio of 27.96, a price-to-earnings-growth ratio of 5.11 and a beta of 0.42. The company’s 50-day simple moving average is $147.96 and its two-hundred day simple moving average is $143.13.

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

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Friday, December 5th will be given a $1.4225 dividend. This represents a $5.69 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Friday, December 5th. PepsiCo’s payout ratio is presently 108.17%.

Analysts Set New Price Targets

Several equities analysts have commented on PEP shares. Wells Fargo & Company upped their price objective on PepsiCo from $150.00 to $154.00 and gave the company a “positive” rating in a research report on Friday, October 10th. Rothschild & Co Redburn upped their price target on shares of PepsiCo from $117.00 to $120.00 and gave the stock a “sell” rating in a report on Monday, December 15th. Piper Sandler lifted their price objective on shares of PepsiCo from $161.00 to $172.00 and gave the company an “overweight” rating in a report on Tuesday, December 9th. Barclays boosted their price objective on shares of PepsiCo from $142.00 to $144.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 10th. Finally, HSBC raised their target price on shares of PepsiCo from $145.00 to $152.00 and gave the stock a “hold” rating in a research report on Friday, October 10th. Eight analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, PepsiCo has a consensus rating of “Hold” and a consensus target price 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.