Pepsico, Inc. (PEP) Stake Lifted by Wealthsource Partners LLC
Wealthsource Partners LLC lifted its position in shares of Pepsico, Inc. (NYSE:PEP) by 18.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,368 shares of the company’s stock after purchasing an additional 525 shares during the period. Wealthsource Partners LLC’s holdings in Pepsico were worth $389,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in PEP. Parsec Financial Management Inc. increased its stake in shares of Pepsico by 2.7% during the 1st quarter. Parsec Financial Management Inc. now owns 183,302 shares of the company’s stock worth $20,504,000 after purchasing an additional 4,823 shares during the last quarter. QV Investors Inc. boosted its holdings in shares of Pepsico by 18.4% during the 1st quarter. QV Investors Inc. now owns 37,420 shares of the company’s stock worth $4,185,000 after buying an additional 5,810 shares during the period. State of New Jersey Common Pension Fund D boosted its holdings in shares of Pepsico by 73.1% during the 1st quarter. State of New Jersey Common Pension Fund D now owns 1,539,600 shares of the company’s stock worth $172,220,000 after buying an additional 650,000 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Pepsico by 14.6% during the 1st quarter. Russell Investments Group Ltd. now owns 3,881,793 shares of the company’s stock worth $434,310,000 after buying an additional 495,542 shares during the period. Finally, Taylor Cottrill Erickson & Associates Inc. boosted its holdings in shares of Pepsico by 3.6% during the 1st quarter. Taylor Cottrill Erickson & Associates Inc. now owns 5,222 shares of the company’s stock worth $584,000 after buying an additional 183 shares during the period. Institutional investors own 70.50% of the company’s stock.
Pepsico, Inc. (NYSE PEP) traded up $0.01 during midday trading on Wednesday, reaching $117.40. 2,664,600 shares of the company’s stock were exchanged, compared to its average volume of 3,660,835. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 2.32. The company has a market cap of $166,945.36, a P/E ratio of 22.93, a P/E/G ratio of 3.19 and a beta of 0.68. Pepsico, Inc. has a 52-week low of $101.06 and a 52-week high of $119.39.
Pepsico (NYSE:PEP) last posted its quarterly earnings data on Wednesday, October 4th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.43 by $0.05. The firm had revenue of $16.24 billion during the quarter, compared to the consensus estimate of $16.35 billion. Pepsico had a net margin of 10.97% and a return on equity of 59.68%. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.40 EPS. research analysts forecast that Pepsico, Inc. will post 5.22 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 8th. Shareholders of record on Friday, December 1st will be issued a $0.805 dividend. This represents a $3.22 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend is Thursday, November 30th. Pepsico’s dividend payout ratio is currently 66.53%.
Several analysts recently commented on the stock. Zacks Investment Research downgraded shares of Pepsico from a “buy” rating to a “hold” rating in a report on Monday, September 4th. BidaskClub raised shares of Pepsico from a “hold” rating to a “buy” rating in a report on Thursday, August 17th. BMO Capital Markets reaffirmed a “hold” rating and set a $120.00 target price on shares of Pepsico in a report on Wednesday, September 6th. Cowen reaffirmed a “buy” rating on shares of Pepsico in a report on Sunday, September 17th. Finally, Royal Bank of Canada reaffirmed a “hold” rating on shares of Pepsico in a report on Sunday, November 12th. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $121.96.
In other Pepsico news, insider Ramon Laguarta sold 21,449 shares of the business’s stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $110.51, for a total value of $2,370,328.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.26% of the company’s stock.
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Pepsico Company Profile
PepsiCo, Inc is a global food and beverage company. The Company’s portfolio of brands includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. The Company operates through six segments: Frito-Lay North America (FLNA), Quaker Foods North America (QFNA), North America Beverages (NAB), Latin America, Europe Sub-Saharan Africa (ESSA), and Asia, Middle East and North Africa (AMENA).
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