PepsiCo, Inc. (NASDAQ:PEP) Shares Acquired by Wesbanco Bank Inc.
Wesbanco Bank Inc. lifted its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 167,500 shares of the company’s stock after purchasing an additional 969 shares during the period. PepsiCo comprises about 1.1% of Wesbanco Bank Inc.’s holdings, making the stock its 22nd largest position. Wesbanco Bank Inc.’s holdings in PepsiCo were worth $22,154,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System boosted its holdings in PepsiCo by 0.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 59,700 shares of the company’s stock valued at $7,896,000 after purchasing an additional 400 shares in the last quarter. Dfpg Investments LLC boosted its stake in shares of PepsiCo by 4.0% during the 2nd quarter. Dfpg Investments LLC now owns 9,491 shares of the company’s stock worth $1,268,000 after acquiring an additional 364 shares in the last quarter. Strategic Family Wealth Counselors L.L.C. purchased a new stake in shares of PepsiCo during the 2nd quarter worth approximately $1,540,000. Carlson Capital Management boosted its stake in shares of PepsiCo by 12.0% during the 2nd quarter. Carlson Capital Management now owns 5,636 shares of the company’s stock worth $758,000 after acquiring an additional 603 shares in the last quarter. Finally, Manchester Financial Inc. boosted its stake in shares of PepsiCo by 8.6% during the 2nd quarter. Manchester Financial Inc. now owns 1,265 shares of the company’s stock worth $167,000 after acquiring an additional 100 shares in the last quarter. 70.60% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts recently issued reports on the company. Credit Suisse Group upgraded PepsiCo from an “underperform” rating to an “outperform” rating and lifted their price objective for the stock from $138.00 to $144.00 in a research report on Friday, March 27th. Royal Bank of Canada restated a “buy” rating and set a $153.00 price objective on shares of PepsiCo in a research report on Tuesday, April 14th. Morgan Stanley restated a “buy” rating on shares of PepsiCo in a research report on Wednesday, May 13th. BidaskClub upgraded PepsiCo from a “sell” rating to a “hold” rating in a research report on Friday, June 12th. Finally, Citigroup cut their price objective on PepsiCo from $157.00 to $148.00 and set a “neutral” rating for the company in a research report on Wednesday, April 29th. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. PepsiCo has a consensus rating of “Buy” and an average target price of $143.00.
PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Monday, July 13th. The company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. The company had revenue of $15.95 billion during the quarter, compared to analysts’ expectations of $15.47 billion. PepsiCo had a net margin of 10.62% and a return on equity of 55.74%. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.54 EPS. On average, equities analysts predict that PepsiCo, Inc. will post 5.32 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th were paid a $1.0225 dividend. This represents a $4.09 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date was Thursday, June 4th. This is a positive change from PepsiCo’s previous quarterly dividend of $0.96. PepsiCo’s dividend payout ratio is 73.96%.
PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its 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 Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.
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