Legacy Private Trust Co. raised its stake in PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 38.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,126 shares of the company’s stock after acquiring an additional 1,971 shares during the quarter. Legacy Private Trust Co.’s holdings in PepsiCo were worth $1,320,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Moneta Group Investment Advisors LLC grew its position in shares of PepsiCo by 95,514.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 42,876,248 shares of the company’s stock worth $7,746,023,000 after buying an additional 42,831,405 shares during the period. Morgan Stanley boosted its stake in PepsiCo by 21.0% during the 4th quarter. Morgan Stanley now owns 26,720,027 shares of the company’s stock worth $4,827,240,000 after acquiring an additional 4,629,947 shares during the last quarter. Geode Capital Management LLC boosted its stake in PepsiCo by 1.9% during the 1st quarter. Geode Capital Management LLC now owns 26,126,523 shares of the company’s stock worth $4,751,555,000 after acquiring an additional 489,343 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in PepsiCo by 5.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 17,880,236 shares of the company’s stock worth $3,259,567,000 after acquiring an additional 872,064 shares during the last quarter. Finally, Norges Bank bought a new position in PepsiCo during the 4th quarter worth approximately $2,519,707,000. Institutional investors and hedge funds own 71.40% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on PEP. Argus lifted their price target on shares of PepsiCo from $206.00 to $212.00 in a research note on Friday, July 14th. Evercore ISI lifted their price target on shares of PepsiCo from $190.00 to $195.00 in a research note on Friday, July 14th. Morgan Stanley lowered shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $210.00 price target on the stock. in a research note on Monday, July 17th. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Thursday, September 7th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of PepsiCo from $193.00 to $195.00 in a research note on Friday, July 14th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $192.00.
PepsiCo Price Performance
Shares of PEP opened at $179.84 on Friday. The company has a market cap of $247.56 billion, a price-to-earnings ratio of 31.50, a PEG ratio of 2.97 and a beta of 0.54. PepsiCo, Inc. has a 1-year low of $160.98 and a 1-year high of $196.88. The company’s fifty day simple moving average is $182.74 and its 200 day simple moving average is $184.57. The company has a current ratio of 0.84, a quick ratio of 0.64 and a debt-to-equity ratio of 2.02.
PepsiCo (NASDAQ:PEP – Get Free Report) last issued its earnings results on Thursday, July 13th. The company reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.96 by $0.13. The business had revenue of $22.32 billion for the quarter, compared to the consensus estimate of $21.73 billion. PepsiCo had a net margin of 8.76% and a return on equity of 56.05%. The firm’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.86 earnings per share. On average, research analysts forecast that PepsiCo, Inc. will post 7.48 earnings per share for the current fiscal year.
PepsiCo Announces Dividend
The company also recently announced 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 of this dividend is Thursday, August 31st. This represents a $5.06 dividend on an annualized basis and a yield of 2.81%. PepsiCo’s 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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