PepsiCo, Inc. $PEP Shares Purchased by Highland Capital Management LLC

Highland Capital Management LLC boosted its position in PepsiCo, Inc. (NASDAQ:PEP) by 17.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 92,775 shares of the company’s stock after buying an additional 13,809 shares during the period. PepsiCo makes up approximately 0.6% of Highland Capital Management LLC’s investment portfolio, making the stock its 29th largest holding. Highland Capital Management LLC’s holdings in PepsiCo were worth $13,029,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of PEP. Norges Bank acquired a new stake in shares of PepsiCo in the second quarter worth $2,330,594,000. Laurel Wealth Advisors LLC boosted 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 valued at $513,726,000 after purchasing an additional 3,863,893 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in PepsiCo during the 2nd quarter worth about $460,110,000. Charles Schwab Investment Management Inc. raised its stake in shares of PepsiCo by 9.7% during 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 last quarter. Finally, Franklin Resources Inc. lifted its holdings 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 during the period. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Trading Down 0.0%

PEP stock opened at $143.64 on Friday. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $160.15. The business’s 50-day moving average is $147.47 and its 200 day moving average is $143.23. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26. The stock has a market cap of $196.40 billion, a price-to-earnings ratio of 27.31, a PEG ratio of 4.96 and a beta of 0.42.

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

PepsiCo Dividend Announcement

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

Analyst Ratings Changes

PEP has been the subject of several recent research reports. Evercore ISI lifted their price target on PepsiCo from $150.00 to $152.00 in a research report on Friday, October 10th. Piper Sandler lifted their target price on shares of PepsiCo from $161.00 to $172.00 and gave the company an “overweight” rating in a report on Tuesday, December 9th. Wall Street Zen upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Saturday, December 13th. The Goldman Sachs Group upped their price objective on shares of PepsiCo from $165.00 to $167.00 and gave the stock a “buy” rating in a research report on Friday, October 10th. Finally, JPMorgan Chase & Co. upgraded PepsiCo from a “neutral” rating to an “overweight” rating and raised their target price for the company from $151.00 to $164.00 in a research report on Wednesday, December 10th. Eight research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $158.75.

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.