Miracle Mile Advisors LLC Has $7.08 Million Stock Position in PepsiCo, Inc. $PEP

Miracle Mile Advisors LLC boosted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 19.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 50,391 shares of the company’s stock after buying an additional 8,088 shares during the quarter. Miracle Mile Advisors LLC’s holdings in PepsiCo were worth $7,077,000 as of its most recent SEC filing.

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

PepsiCo Stock Performance

PEP opened at $143.52 on Friday. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.91 and a quick ratio of 0.72. The business has a fifty day simple moving average of $146.56 and a 200 day simple moving average of $143.68. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $160.15. The company has a market capitalization of $196.24 billion, a PE ratio of 27.29, a price-to-earnings-growth ratio of 4.95 and a beta of 0.42.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Wednesday, October 8th. The company reported $2.29 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.03. The firm had revenue of $23.94 billion for 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 company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the business earned $2.31 EPS. Research analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Citigroup lifted their price target on PepsiCo from $165.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, December 17th. HSBC lifted their target price on PepsiCo from $145.00 to $152.00 and gave the stock a “hold” rating in a research note on Friday, October 10th. Rothschild & Co Redburn boosted their target price on PepsiCo from $117.00 to $120.00 and gave the stock a “sell” rating in a report on Monday, December 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PepsiCo in a report on Tuesday, October 14th. Finally, The Goldman Sachs Group upped their price objective on shares of PepsiCo from $165.00 to $167.00 and gave the company a “buy” rating in a report on Friday, October 10th. Eight investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, PepsiCo has an average rating of “Hold” and an average 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.