Crossvault Capital Management LLC Has $2.80 Million Stake in PepsiCo, Inc. (PEP)
Crossvault Capital Management LLC grew its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 12.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,671 shares of the company’s stock after buying an additional 2,818 shares during the period. PepsiCo accounts for 1.5% of Crossvault Capital Management LLC’s portfolio, making the stock its 24th biggest holding. Crossvault Capital Management LLC’s holdings in PepsiCo were worth $2,795,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently bought and sold shares of the company. Wagner Wealth Management LLC bought a new stake in PepsiCo in the 4th quarter worth approximately $109,000. WP Advisors LLC bought a new stake in PepsiCo in the 2nd quarter worth approximately $118,000. Well Done LLC bought a new stake in PepsiCo in the 1st quarter worth approximately $125,000. Certified Advisory Corp bought a new stake in PepsiCo in the 4th quarter worth approximately $134,000. Finally, Atlas Capital Advisors LLC increased its stake in PepsiCo by 85.7% in the 2nd quarter. Atlas Capital Advisors LLC now owns 1,300 shares of the company’s stock worth $149,000 after acquiring an additional 600 shares during the last quarter. 70.39% of the stock is currently owned by hedge funds and other institutional investors.
PEP opened at $111.97 on Wednesday. PepsiCo, Inc. has a 52-week low of $95.94 and a 52-week high of $122.51. The company has a debt-to-equity ratio of 3.00, a current ratio of 1.24 and a quick ratio of 1.09. The firm has a market cap of $162.52 billion, a P/E ratio of 21.41, a price-to-earnings-growth ratio of 2.71 and a beta of 0.67.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 7th will be issued a dividend of $0.9275 per share. This represents a $3.71 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend is Thursday, September 6th. PepsiCo’s payout ratio is currently 70.94%.
PEP has been the topic of several analyst reports. JPMorgan Chase & Co. set a $128.00 target price on PepsiCo and gave the company a “buy” rating in a research report on Wednesday, July 11th. Morgan Stanley boosted their target price on PepsiCo from $123.00 to $127.00 and gave the company a “buy” rating in a research report on Wednesday, July 11th. Deutsche Bank downgraded PepsiCo from a “buy” rating to a “hold” rating and set a $116.00 target price on the stock. in a research report on Tuesday, July 3rd. Citigroup boosted their target price on PepsiCo from $111.00 to $118.00 and gave the company a “neutral” rating in a research report on Wednesday, July 11th. Finally, Zacks Investment Research downgraded PepsiCo from a “hold” rating to a “sell” rating in a research report on Wednesday, June 27th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the company. PepsiCo currently has an average rating of “Hold” and a consensus price target of $119.50.
PepsiCo Company Profile
PepsiCo, Inc operates as a food and beverage company worldwide. Its Frito-Lay North America segment offers Lay's and Ruffles potato chips; Doritos, Tostitos, and Santitas tortilla chips; and Cheetos snacks, branded dips, and Fritos corn chips. The company's Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the brands Quaker, Aunt Jemima, Cap'n crunch, life, Quaker Chewy, and Rice-A-Roni.
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