Peregrine Asset Advisers Inc. Increases Stake in PepsiCo, Inc. (NASDAQ:PEP)

Peregrine Asset Advisers Inc. lifted its position in PepsiCo, Inc. (NASDAQ:PEP) by 0.8% during the 2nd quarter, Holdings Channel reports. The firm owned 11,594 shares of the company’s stock after acquiring an additional 94 shares during the period. Peregrine Asset Advisers Inc.’s holdings in PepsiCo were worth $1,912,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Gilbert & Cook Inc. boosted its holdings in shares of PepsiCo by 23.4% during the fourth quarter. Gilbert & Cook Inc. now owns 5,971 shares of the company’s stock worth $1,014,000 after purchasing an additional 1,133 shares during the period. Aveo Capital Partners LLC lifted its holdings in PepsiCo by 4.4% in the 4th quarter. Aveo Capital Partners LLC now owns 5,480 shares of the company’s stock worth $931,000 after buying an additional 229 shares during the period. 9258 Wealth Management LLC grew its position in shares of PepsiCo by 56.0% in the 4th quarter. 9258 Wealth Management LLC now owns 8,281 shares of the company’s stock worth $1,407,000 after buying an additional 2,974 shares during the last quarter. Gryphon Financial Partners LLC raised its holdings in shares of PepsiCo by 81.3% during the fourth quarter. Gryphon Financial Partners LLC now owns 8,105 shares of the company’s stock valued at $1,357,000 after acquiring an additional 3,635 shares in the last quarter. Finally, TrinityPoint Wealth LLC lifted its stake in PepsiCo by 2.5% in the fourth quarter. TrinityPoint Wealth LLC now owns 13,353 shares of the company’s stock worth $2,268,000 after acquiring an additional 332 shares during the period. 73.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PEP has been the subject of several research reports. Wells Fargo & Company decreased their price objective on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Jefferies Financial Group cut their price objective on PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Morgan Stanley decreased their target price on PepsiCo from $190.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. BNP Paribas started coverage on PepsiCo in a research report on Monday, June 24th. They set a “neutral” rating and a $174.00 price target on the stock. Finally, Royal Bank of Canada decreased their price objective on PepsiCo from $180.00 to $177.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, PepsiCo presently has an average rating of “Moderate Buy” and an average price target of $185.53.

PepsiCo Stock Performance

Shares of PepsiCo stock opened at $177.21 on Tuesday. PepsiCo, Inc. has a 1 year low of $155.83 and a 1 year high of $183.41. The firm’s 50-day moving average is $172.67 and its 200 day moving average is $171.57. The stock has a market cap of $243.41 billion, a price-to-earnings ratio of 25.72, a PEG ratio of 3.06 and a beta of 0.53. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.83 and a quick ratio of 0.64.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Thursday, July 11th. The company reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.12. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The firm had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $22.59 billion. During the same quarter in the prior year, the company posted $2.09 earnings per share. The business’s revenue for the quarter was up .8% on a year-over-year basis. Sell-side analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be given a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date is Friday, September 6th. PepsiCo’s dividend payout ratio (DPR) is 78.66%.

PepsiCo Company Profile

PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of 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.