Reliant Investment Management LLC Acquires 361 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Reliant Investment Management LLC raised its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 30,873 shares of the company’s stock after purchasing an additional 361 shares during the quarter. PepsiCo makes up approximately 2.5% of Reliant Investment Management LLC’s holdings, making the stock its 22nd largest holding. Reliant Investment Management LLC’s holdings in PepsiCo were worth $5,250,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Capital Advisors Ltd. LLC raised its holdings in PepsiCo by 3.6% in the first quarter. Capital Advisors Ltd. LLC now owns 3,961 shares of the company’s stock worth $693,000 after purchasing an additional 139 shares during the period. Norden Group LLC raised its stake in PepsiCo by 3,345.6% during the 1st quarter. Norden Group LLC now owns 179,377 shares of the company’s stock worth $31,391,000 after buying an additional 174,171 shares during the period. Marion Wealth Management lifted its holdings in PepsiCo by 6.3% during the first quarter. Marion Wealth Management now owns 8,382 shares of the company’s stock worth $1,467,000 after acquiring an additional 494 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in PepsiCo by 1.6% in the fourth quarter. Public Employees Retirement System of Ohio now owns 715,296 shares of the company’s stock valued at $121,486,000 after acquiring an additional 11,485 shares during the period. Finally, Meyer Handelman Co. increased its holdings in shares of PepsiCo by 3.9% in the first quarter. Meyer Handelman Co. now owns 253,769 shares of the company’s stock worth $44,412,000 after acquiring an additional 9,465 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PEP shares. DZ Bank lowered PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective for the company. in a research report on Friday, July 19th. StockNews.com downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Friday, September 20th. Royal Bank of Canada cut their price objective on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. Jefferies Financial Group lowered their target price on PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Finally, JPMorgan Chase & Co. boosted their price target on PepsiCo from $182.00 to $185.00 and gave the company a “neutral” rating in a report on Tuesday, October 1st. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $185.29.

PepsiCo Trading Up 1.9 %

Shares of PepsiCo stock opened at $170.42 on Wednesday. The stock has a market cap of $234.29 billion, a P/E ratio of 24.73, a P/E/G ratio of 3.07 and a beta of 0.53. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.87. PepsiCo, Inc. has a 12-month low of $157.43 and a 12-month high of $183.41. The business’s 50 day moving average is $173.68 and its 200-day moving average is $172.07.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.01. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The firm had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. During the same period in the prior year, the firm posted $2.25 earnings per share. The company’s quarterly revenue was down .6% compared to the same quarter last year. Equities research analysts predict that PepsiCo, Inc. will post 8.13 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 6th were issued a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date was Friday, September 6th. PepsiCo’s payout ratio is currently 78.66%.

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.