Hilton Capital Management LLC Grows Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Hilton Capital Management LLC grew its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 61,229 shares of the company’s stock after buying an additional 816 shares during the quarter. Hilton Capital Management LLC’s holdings in PepsiCo were worth $10,412,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in PEP. Global Wealth Strategies & Associates boosted its holdings in shares of PepsiCo by 59.0% in the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after purchasing an additional 59 shares in the last quarter. Highline Wealth Partners LLC purchased a new position in shares of PepsiCo during the 3rd quarter valued at about $28,000. POM Investment Strategies LLC boosted its stake in PepsiCo by 141.3% in the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after buying an additional 106 shares in the last quarter. Summit Securities Group LLC bought a new position in PepsiCo during the second quarter valued at approximately $30,000. Finally, Mattson Financial Services LLC purchased a new position in shares of PepsiCo during the second quarter worth approximately $34,000. 73.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on PEP. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price for the company. in a research note on Friday, September 20th. Bank of America reduced their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. JPMorgan Chase & Co. dropped their price objective on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Finally, Barclays decreased their target price 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. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $183.92.

PepsiCo Trading Down 1.0 %

NASDAQ PEP opened at $156.72 on Wednesday. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The firm has a market capitalization of $215.02 billion, a PE ratio of 23.12, a P/E/G ratio of 2.96 and a beta of 0.53. The stock’s 50 day moving average is $170.00 and its 200 day moving average is $171.24. PepsiCo, Inc. has a twelve month low of $155.85 and a twelve month high of $183.41.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. The business had revenue of $23.32 billion during the quarter, compared to the consensus estimate of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the firm earned $2.25 earnings per share. Research analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 6th will be paid a $1.355 dividend. This represents a $5.42 annualized dividend and a dividend yield of 3.46%. PepsiCo’s dividend payout ratio is currently 79.94%.

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.