Golden State Equity Partners purchased a new position in PepsiCo, Inc. (NASDAQ:PEP – Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,107 shares of the company’s stock, valued at approximately $566,000.
A number of other large investors have also modified their holdings of the business. Richwood Investment Advisors LLC lifted its holdings in PepsiCo by 0.8% in the first quarter. Richwood Investment Advisors LLC now owns 6,826 shares of the company’s stock worth $1,244,000 after purchasing an additional 55 shares during the period. German American Bancorp Inc. increased its stake in shares of PepsiCo by 3.2% during the first quarter. German American Bancorp Inc. now owns 1,754 shares of the company’s stock valued at $320,000 after acquiring an additional 55 shares during the period. Adamsbrown Wealth Consultants LLC boosted its stake in PepsiCo by 0.8% during the 1st quarter. Adamsbrown Wealth Consultants LLC now owns 6,646 shares of the company’s stock valued at $1,212,000 after purchasing an additional 56 shares in the last quarter. Proquility Private Wealth Partners LLC raised its stake in shares of PepsiCo by 1.1% in the 4th quarter. Proquility Private Wealth Partners LLC now owns 5,260 shares of the company’s stock worth $950,000 after buying an additional 57 shares in the last quarter. Finally, Acorn Financial Advisory Services Inc. ADV lifted its holdings in PepsiCo by 3.8% in the 1st quarter. Acorn Financial Advisory Services Inc. ADV now owns 1,589 shares of the company’s stock valued at $290,000 after acquiring an additional 58 shares during the last quarter. Hedge funds and other institutional investors own 71.40% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts have recently weighed in on the company. Evercore ISI raised their price objective on PepsiCo from $190.00 to $195.00 in a research note on Friday, July 14th. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Thursday, September 7th. Argus increased their price objective on PepsiCo from $206.00 to $212.00 in a report on Friday, July 14th. Morgan Stanley downgraded PepsiCo from an “overweight” rating to an “equal weight” rating and set a $210.00 price target for the company. in a research note on Monday, July 17th. Finally, Wedbush raised their price objective on shares of PepsiCo from $200.00 to $206.00 and gave the company an “outperform” rating in a research report on Friday, July 14th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $192.00.
PepsiCo Stock Up 0.8 %
PEP opened at $179.68 on Thursday. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.84 and a quick ratio of 0.64. The firm’s fifty day moving average price is $182.85 and its two-hundred day moving average price is $184.59. PepsiCo, Inc. has a fifty-two week low of $160.98 and a fifty-two week high of $196.88. The company has a market capitalization of $247.34 billion, a P/E ratio of 31.47, a P/E/G ratio of 2.90 and a beta of 0.54.
PepsiCo (NASDAQ:PEP – Get Free Report) last announced its quarterly earnings results on Thursday, July 13th. The company reported $2.09 EPS for the quarter, beating the consensus estimate of $1.96 by $0.13. PepsiCo had a return on equity of 56.05% and a net margin of 8.76%. The business had revenue of $22.32 billion for the quarter, compared to analyst estimates of $21.73 billion. During the same quarter in the previous year, the firm earned $1.86 EPS. PepsiCo’s quarterly revenue was up 10.4% on a year-over-year basis. On average, analysts anticipate that PepsiCo, Inc. will post 7.48 EPS for the current year.
PepsiCo Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be issued a dividend of $1.265 per share. The ex-dividend date is Thursday, August 31st. This represents a $5.06 dividend on an annualized basis and a yield of 2.82%. PepsiCo’s dividend payout ratio is 88.62%.
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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