Coastwise Capital Group LLC Makes New Investment in PepsiCo, Inc. (NASDAQ:PEP)

Coastwise Capital Group LLC bought a new stake in shares of PepsiCo, Inc. (NASDAQ:PEP) in the third quarter, HoldingsChannel reports. The institutional investor bought 1,472 shares of the company’s stock, valued at approximately $250,000.

Several other large investors also recently modified their holdings of PEP. Charles Schwab Investment Management Inc. grew its stake in PepsiCo by 5.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock worth $3,632,413,000 after buying an additional 1,125,059 shares in the last quarter. Legal & General Group Plc boosted its position in shares of PepsiCo by 7.2% during the 2nd quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock worth $2,234,400,000 after acquiring an additional 905,468 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in PepsiCo by 2.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 10,383,621 shares of the company’s stock valued at $1,765,735,000 after acquiring an additional 236,091 shares during the last quarter. Fisher Asset Management LLC lifted its stake in PepsiCo by 5.7% during the third quarter. Fisher Asset Management LLC now owns 7,854,268 shares of the company’s stock worth $1,335,618,000 after purchasing an additional 422,080 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of PepsiCo by 8.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock valued at $1,221,089,000 after purchasing an additional 561,465 shares during the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Trading Up 0.4 %

PEP opened at $163.45 on Monday. The stock has a market cap of $224.25 billion, a PE ratio of 24.11, a price-to-earnings-growth ratio of 3.05 and a beta of 0.53. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a twelve month low of $155.85 and a twelve month high of $183.41. The company has a fifty day moving average of $167.79 and a 200-day moving average of $170.30.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.01. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The firm had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. During the same period last year, the company posted $2.25 EPS. The business’s quarterly revenue was down .6% on a year-over-year basis. On average, sell-side analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 6th will be given a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.32%. The ex-dividend date is Friday, December 6th. PepsiCo’s dividend payout ratio (DPR) is 79.94%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PEP. TD Cowen downgraded PepsiCo from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $190.00 to $183.00 in a research report on Thursday, October 10th. Barclays reduced their price target on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research report on Wednesday, October 9th. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. dropped their price target on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $183.92.

About PepsiCo

PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of various beverages and convenient foods worldwide. The company operates through seven segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region.