PepsiCo, Inc. (PEP) Shares Bought by First Trust Advisors LP
First Trust Advisors LP grew its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 109.2% during the second quarter, HoldingsChannel reports. The firm owned 908,728 shares of the company’s stock after purchasing an additional 474,449 shares during the period. First Trust Advisors LP’s holdings in PepsiCo were worth $98,933,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in PEP. Fiera Capital Corp increased its holdings in shares of PepsiCo by 5.3% in the 1st quarter. Fiera Capital Corp now owns 3,512,114 shares of the company’s stock valued at $383,347,000 after acquiring an additional 177,748 shares during the period. Fort Point Capital Partners LLC increased its holdings in shares of PepsiCo by 53.2% in the 4th quarter. Fort Point Capital Partners LLC now owns 3,683 shares of the company’s stock valued at $444,000 after acquiring an additional 1,279 shares during the period. Bruderman Asset Management LLC increased its holdings in shares of PepsiCo by 3.9% in the 1st quarter. Bruderman Asset Management LLC now owns 59,583 shares of the company’s stock valued at $6,503,000 after acquiring an additional 2,255 shares during the period. Patriot Wealth Management Inc. increased its holdings in shares of PepsiCo by 3.1% in the 2nd quarter. Patriot Wealth Management Inc. now owns 43,785 shares of the company’s stock valued at $4,767,000 after acquiring an additional 1,297 shares during the period. Finally, World Asset Management Inc increased its holdings in shares of PepsiCo by 2.9% in the 2nd quarter. World Asset Management Inc now owns 102,760 shares of the company’s stock valued at $11,187,000 after acquiring an additional 2,917 shares during the period. 70.39% of the stock is currently owned by institutional investors.
Several equities analysts have issued reports on PEP shares. JPMorgan Chase & Co. set a $128.00 price objective on shares of PepsiCo and gave the company a “buy” rating in a research note on Wednesday, July 11th. Morgan Stanley boosted their price objective on shares of PepsiCo from $123.00 to $127.00 and gave the company a “buy” rating in a research note on Wednesday, July 11th. Deutsche Bank cut shares of PepsiCo from a “buy” rating to a “hold” rating and set a $116.00 price objective on the stock. in a research note on Tuesday, July 3rd. Citigroup boosted their price objective on shares of PepsiCo from $111.00 to $118.00 and gave the company a “neutral” rating in a research note on Wednesday, July 11th. Finally, Zacks Investment Research cut shares of PepsiCo from a “hold” rating to a “sell” rating in a research note on Wednesday, June 27th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the stock. PepsiCo has an average rating of “Hold” and an average target price of $119.50.
PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, July 10th. The company reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.08. The company had revenue of $16.09 billion for the quarter, compared to analysts’ expectations of $16.05 billion. PepsiCo had a net margin of 7.14% and a return on equity of 67.06%. PepsiCo’s revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.50 EPS. equities research analysts expect that PepsiCo, Inc. will post 5.69 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 7th will be given a dividend of $0.9275 per share. The ex-dividend date is Thursday, September 6th. This represents a $3.71 annualized dividend and a dividend yield of 3.34%. PepsiCo’s 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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