Healthcare of Ontario Pension Plan Trust Fund Raises Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Healthcare of Ontario Pension Plan Trust Fund lifted its stake in PepsiCo, Inc. (NASDAQ:PEP) by 53.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 946,113 shares of the company’s stock after buying an additional 329,099 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in PepsiCo were worth $160,887,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Global Wealth Strategies & Associates raised its holdings in 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 during the period. Highline Wealth Partners LLC acquired a new position in PepsiCo in the 3rd quarter worth about $28,000. POM Investment Strategies LLC raised its holdings in PepsiCo by 141.3% in the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after purchasing an additional 106 shares during the period. Summit Securities Group LLC acquired a new position in PepsiCo in the 2nd quarter worth about $30,000. Finally, Mattson Financial Services LLC acquired a new position in PepsiCo in the 2nd quarter worth about $34,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Down 0.5 %

Shares of PepsiCo stock opened at $162.16 on Wednesday. The firm has a market capitalization of $222.48 billion, a price-to-earnings ratio of 23.92, a PEG ratio of 3.04 and a beta of 0.53. PepsiCo, Inc. has a fifty-two week low of $155.85 and a fifty-two week high of $183.41. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The stock has a 50 day moving average of $168.43 and a 200 day moving average of $170.66.

PepsiCo (NASDAQ:PEP) last issued 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. The company had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.25 earnings per share. As a group, research analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.34%. PepsiCo’s payout ratio is presently 79.94%.

Analysts Set New Price Targets

PEP has been the subject of a number of research analyst reports. Barclays reduced their target price on PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. JPMorgan Chase & Co. reduced their target price on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Royal Bank of Canada reduced their target price on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Finally, Hsbc Global Res raised PepsiCo to a “hold” rating in a report on Thursday, October 10th. One equities research 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. Based on data from MarketBeat, PepsiCo currently has a consensus rating of “Hold” and an average target price of $183.92.

PepsiCo Company Profile

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.