Hanson & Doremus Investment Management Has $916,000 Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

by · The Markets Daily

Hanson & Doremus Investment Management lifted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 4.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,404 shares of the company’s stock after purchasing an additional 214 shares during the quarter. Hanson & Doremus Investment Management’s holdings in PepsiCo were worth $916,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of PEP. Avion Wealth boosted its stake in PepsiCo by 70.6% in the second quarter. Avion Wealth now owns 145 shares of the company’s stock valued at $25,000 after buying an additional 60 shares in the last quarter. DHJJ Financial Advisors Ltd. acquired a new stake in PepsiCo in the third quarter valued at about $25,000. Spotlight Asset Group Inc. acquired a new stake in PepsiCo in the second quarter valued at about $27,000. Pacifica Partners Inc. acquired a new stake in PepsiCo in the third quarter valued at about $27,000. Finally, West Tower Group LLC acquired a new stake in PepsiCo in the second quarter valued at about $36,000. 71.40% of the stock is owned by institutional investors and hedge funds.

PepsiCo Stock Performance

NASDAQ PEP opened at $171.47 on Friday. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.88 and a quick ratio of 0.71. The company has a fifty day moving average price of $167.80 and a 200-day moving average price of $174.51. PepsiCo, Inc. has a 1 year low of $155.83 and a 1 year high of $196.88. The firm has a market cap of $235.75 billion, a price-to-earnings ratio of 28.58, a PEG ratio of 2.59 and a beta of 0.53.

PepsiCo (NASDAQ:PEP – Get Free Report) last posted its quarterly earnings data on Tuesday, October 10th. The company reported $2.25 EPS for the quarter, beating the consensus estimate of $2.15 by $0.10. PepsiCo had a net margin of 9.05% and a return on equity of 58.28%. The firm had revenue of $23.45 billion during the quarter, compared to analyst estimates of $23.41 billion. During the same quarter last year, the business posted $1.97 EPS. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. As a group, equities research analysts predict that PepsiCo, Inc. will post 7.55 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Friday, December 1st will be paid a $1.265 dividend. The ex-dividend date is Thursday, November 30th. This represents a $5.06 annualized dividend and a yield of 2.95%. PepsiCo’s dividend payout ratio is currently 84.33%.

Insider Buying and Selling at PepsiCo

In other news, CFO Hugh F. Johnston sold 48,388 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $166.65, for a total value of $8,063,860.20. Following the completion of the transaction, the chief financial officer now directly owns 96,627 shares in the company, valued at $16,102,889.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on PEP. Evercore ISI dropped their target price on PepsiCo from $195.00 to $185.00 in a research report on Tuesday, October 3rd. Jefferies Financial Group began coverage on PepsiCo in a research report on Monday, November 13th. They issued a “buy” rating and a $203.00 target price for the company. Morgan Stanley dropped their target price on PepsiCo from $210.00 to $190.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 11th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $180.00 target price on shares of PepsiCo in a research report on Wednesday, October 11th. Finally, Wedbush cut their price objective on PepsiCo from $206.00 to $195.00 and set an “outperform” rating on the stock in a research note on Monday, October 9th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $186.93.

Read Our Latest Stock Report on PEP

PepsiCo Profile

(Free Report)

PepsiCo, Inc manufactures, markets, distributes, and sells 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.

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