Cerity Partners LLC Has $160.69 Million Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Cerity Partners LLC boosted its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 11.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 944,940 shares of the company’s stock after acquiring an additional 96,198 shares during the quarter. Cerity Partners LLC owned 0.07% of PepsiCo worth $160,687,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Empowered Funds LLC grew its holdings in PepsiCo by 9.2% during the third quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock worth $16,968,000 after buying an additional 8,406 shares in the last quarter. M&G Plc grew its stake in shares of PepsiCo by 3.6% in the 2nd quarter. M&G Plc now owns 426,269 shares of the company’s stock worth $70,334,000 after acquiring an additional 14,724 shares in the last quarter. Pinnacle Financial Partners Inc raised its holdings in shares of PepsiCo by 3.5% in the third quarter. Pinnacle Financial Partners Inc now owns 135,331 shares of the company’s stock valued at $23,013,000 after purchasing an additional 4,547 shares during the last quarter. Fiduciary Family Office LLC boosted its holdings in PepsiCo by 119.6% during the third quarter. Fiduciary Family Office LLC now owns 6,843 shares of the company’s stock worth $1,164,000 after purchasing an additional 3,727 shares during the last quarter. Finally, Empower Advisory Group LLC grew its position in PepsiCo by 4.6% in the 3rd quarter. Empower Advisory Group LLC now owns 378,902 shares of the company’s stock worth $64,432,000 after purchasing an additional 16,523 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PEP. Bank of America cut their target price on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Barclays cut their price objective on PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Redburn Atlantic upgraded PepsiCo to a “strong sell” rating in a research note on Thursday, October 10th. Morgan Stanley lowered shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target for the company. in a research report on Friday, September 20th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $183.92.

PepsiCo Price Performance

Shares of NASDAQ PEP opened at $162.00 on Friday. The stock has a fifty day moving average of $169.01 and a 200-day moving average of $170.98. The stock has a market cap of $222.26 billion, a PE ratio of 23.89, a price-to-earnings-growth ratio of 2.99 and a beta of 0.53. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. PepsiCo, Inc. has a fifty-two week low of $155.85 and a fifty-two week high of $183.41.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. The firm had revenue of $23.32 billion for 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 company’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.25 earnings per share. Equities research analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 6th will be given a $1.355 dividend. The ex-dividend date is Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.35%. PepsiCo’s dividend payout ratio (DPR) is presently 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.