Thrive Wealth Management LLC raised its stake in PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 3.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,592 shares of the company’s stock after buying an additional 164 shares during the period. Thrive Wealth Management LLC’s holdings in PepsiCo were worth $850,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Clear Investment Research LLC purchased a new stake in shares of PepsiCo during the fourth quarter valued at approximately $25,000. Freedom Wealth Alliance LLC bought a new stake in PepsiCo in the 4th quarter worth $29,000. Silicon Valley Capital Partners purchased a new position in shares of PepsiCo in the fourth quarter valued at about $36,000. Carderock Capital Management Inc. purchased a new stake in shares of PepsiCo during the first quarter worth about $36,000. Finally, Kepos Capital LP bought a new stake in shares of PepsiCo in the fourth quarter worth about $40,000. 71.40% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research firms have weighed in on PEP. Royal Bank of Canada increased their price objective on PepsiCo from $178.00 to $180.00 in a report on Friday, July 14th. Wedbush lifted their price target on shares of PepsiCo from $200.00 to $206.00 and gave the company an “outperform” rating in a report on Friday, July 14th. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Thursday, September 7th. Deutsche Bank Aktiengesellschaft increased their price target on shares of PepsiCo from $193.00 to $195.00 in a research note on Friday, July 14th. Finally, Evercore ISI lifted their price target on PepsiCo from $190.00 to $195.00 in a research report on Friday, July 14th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $192.00.
PepsiCo Stock Down 0.3 %
PEP opened at $179.38 on Tuesday. The company has a current ratio of 0.84, a quick ratio of 0.64 and a debt-to-equity ratio of 2.02. The company has a market capitalization of $246.93 billion, a PE ratio of 31.42, a PEG 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’s 50 day simple moving average is $182.67 and its two-hundred day simple moving average is $184.61.
PepsiCo (NASDAQ:PEP – Get Free Report) last announced its quarterly earnings data on Thursday, July 13th. The company reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.13. The company had revenue of $22.32 billion during the quarter, compared to the consensus estimate of $21.73 billion. PepsiCo had a return on equity of 56.05% and a net margin of 8.76%. The firm’s revenue was up 10.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.86 EPS. As a group, equities analysts forecast that PepsiCo, Inc. will post 7.48 EPS for the current year.
PepsiCo Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 1st will be given a dividend of $1.265 per share. This represents a $5.06 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend is Thursday, August 31st. PepsiCo’s payout ratio is currently 88.62%.
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.
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