Morse Asset Management Inc Invests $996,000 in PepsiCo, Inc. (NASDAQ:PEP)

Morse Asset Management Inc acquired a new position in shares of PepsiCo, Inc. (NASDAQ:PEP) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 5,856 shares of the company’s stock, valued at approximately $996,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its stake in PepsiCo by 5.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock valued at $3,632,413,000 after purchasing an additional 1,125,059 shares during the last quarter. Legal & General Group Plc lifted 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 valued at $2,234,400,000 after buying an additional 905,468 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of PepsiCo by 2.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,383,621 shares of the company’s stock worth $1,765,735,000 after acquiring an additional 236,091 shares during the period. Fisher Asset Management LLC increased its holdings in PepsiCo by 5.7% in the 3rd quarter. Fisher Asset Management LLC now owns 7,854,268 shares of the company’s stock worth $1,335,618,000 after acquiring an additional 422,080 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in PepsiCo by 8.2% during the second 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 hedge funds and other institutional investors.

PepsiCo Stock Down 0.8 %

NASDAQ PEP opened at $161.70 on Wednesday. The business’s 50-day moving average is $167.45 and its 200 day moving average is $170.01. The stock has a market capitalization of $221.85 billion, a PE ratio of 23.85, a PEG ratio of 3.04 and a beta of 0.52. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. PepsiCo, Inc. has a 1 year low of $155.85 and a 1 year high of $183.41.

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

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 6th will be given a $1.355 dividend. This represents a $5.42 annualized dividend and a dividend yield of 3.35%. The ex-dividend date is Friday, December 6th. PepsiCo’s dividend payout ratio is currently 79.94%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PEP shares. Morgan Stanley downgraded shares of 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. Hsbc Global Res raised PepsiCo to a “hold” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of PepsiCo from $180.00 to $179.00 and set a “hold” rating for the company in a research note on Wednesday, October 9th. JPMorgan Chase & Co. decreased their target price on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Finally, TD Cowen downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and lowered their target price for the company from $190.00 to $183.00 in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target 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.