Meyer Handelman Co. Has $33.80 Million Position in PepsiCo, Inc. (PEP)
Meyer Handelman Co. increased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 310,417 shares of the company’s stock after acquiring an additional 1,032 shares during the period. PepsiCo comprises approximately 1.7% of Meyer Handelman Co.’s investment portfolio, making the stock its 15th largest holding. Meyer Handelman Co.’s holdings in PepsiCo were worth $33,795,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PEP. Wagner Wealth Management LLC acquired a new position in PepsiCo during the fourth quarter worth approximately $109,000. WP Advisors LLC acquired a new position in PepsiCo during the second quarter worth approximately $118,000. Well Done LLC acquired a new position in PepsiCo during the first quarter worth approximately $125,000. Certified Advisory Corp acquired a new position in PepsiCo during the fourth quarter worth approximately $134,000. Finally, Avestar Capital LLC acquired a new position in PepsiCo during the fourth quarter worth approximately $154,000. Institutional investors and hedge funds own 70.49% of the company’s stock.
A number of equities analysts have weighed in on PEP shares. BidaskClub raised PepsiCo from a “strong sell” rating to a “sell” rating in a research report on Thursday, May 24th. JPMorgan Chase & Co. set a $128.00 price target on PepsiCo and gave the stock a “buy” rating in a research report on Wednesday, July 11th. Morgan Stanley upped 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. Finally, Citigroup upped 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. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $119.50.
PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, July 10th. The company reported $1.61 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.53 by $0.08. The business had revenue of $16.09 billion for the quarter, compared to the consensus estimate of $16.05 billion. PepsiCo had a return on equity of 67.06% and a net margin of 7.14%. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.50 earnings per share. analysts anticipate that PepsiCo, Inc. will post 5.69 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 7th will be given a dividend of $0.9275 per share. This represents a $3.71 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date of this dividend is Thursday, September 6th. PepsiCo’s dividend payout ratio is currently 70.94%.
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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