PepsiCo, Inc. (NASDAQ:PEP) Shares Purchased by Legacy Bridge LLC

Legacy Bridge LLC boosted its stake in PepsiCo, Inc. (NASDAQ:PEP) by 4.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 5,306 shares of the company’s stock after purchasing an additional 219 shares during the period. Legacy Bridge LLC’s holdings in PepsiCo were worth $983,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Selective Wealth Management Inc. acquired a new stake in PepsiCo in the 2nd quarter valued at approximately $246,000. Buckingham Capital Management Inc. boosted its position in PepsiCo by 1.8% in the 2nd quarter. Buckingham Capital Management Inc. now owns 39,278 shares of the company’s stock valued at $7,275,000 after buying an additional 691 shares during the period. Ferguson Wellman Capital Management Inc. boosted its position in PepsiCo by 2.4% in the 2nd quarter. Ferguson Wellman Capital Management Inc. now owns 49,263 shares of the company’s stock valued at $9,124,000 after buying an additional 1,154 shares during the period. Norway Savings Bank boosted its position in PepsiCo by 4.1% in the 2nd quarter. Norway Savings Bank now owns 10,718 shares of the company’s stock valued at $1,985,000 after buying an additional 420 shares during the period. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO boosted its position in PepsiCo by 0.6% in the 2nd quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 15,560 shares of the company’s stock valued at $2,882,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 71.40% of the company’s stock.

PepsiCo Price Performance

Shares of PEP opened at $179.38 on Tuesday. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.84 and a quick ratio of 0.64. The stock has a market cap of $246.93 billion, a PE ratio of 31.42, a price-to-earnings-growth ratio of 2.95 and a beta of 0.54. PepsiCo, Inc. has a 1-year low of $160.98 and a 1-year high of $196.88. The firm has a fifty day moving average price of $182.67 and a 200 day moving average price of $184.61.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Thursday, July 13th. The company reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $0.13. The company had revenue of $22.32 billion for the quarter, compared to analyst estimates of $21.73 billion. PepsiCo had a net margin of 8.76% and a return on equity of 56.05%. PepsiCo’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.86 earnings per share. As a group, sell-side analysts anticipate that PepsiCo, Inc. will post 7.48 EPS for the current year.

PepsiCo Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 1st will be paid a $1.265 dividend. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $5.06 dividend on an annualized basis and a yield of 2.82%. PepsiCo’s dividend payout ratio is presently 88.62%.

Wall Street Analyst Weigh In

PEP has been the subject of several recent research reports. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Thursday, September 7th. Wedbush lifted their price objective on shares of PepsiCo from $200.00 to $206.00 and gave the stock an “outperform” rating in a research report on Friday, July 14th. Argus lifted their price objective on shares of PepsiCo from $206.00 to $212.00 in a research report on Friday, July 14th. Morgan Stanley cut shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $210.00 price objective for the company. in a research report on Monday, July 17th. Finally, Evercore ISI lifted their price objective on shares of PepsiCo from $190.00 to $195.00 in a research report on Friday, July 14th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $192.00.

PepsiCo Company Profile

PepsiCo, Inc manufactures, markets, distributes, and sells various beverages and convenient foods worldwide. The company operates through seven segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region.