Argent Trust Co Purchases 1,265 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Argent Trust Co lifted its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,476 shares of the company’s stock after buying an additional 1,265 shares during the period. Argent Trust Co’s holdings in PepsiCo were worth $17,066,000 at the end of the most recent quarter.

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

PepsiCo Stock Performance

PEP opened at $176.87 on Wednesday. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.64 and a current ratio of 0.83. PepsiCo, Inc. has a 52-week low of $155.83 and a 52-week high of $183.41. The firm has a market cap of $243.16 billion, a P/E ratio of 25.67, a price-to-earnings-growth ratio of 3.06 and a beta of 0.53. The business’s fifty day moving average is $172.97 and its 200-day moving average is $171.65.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Thursday, July 11th. The company reported $2.28 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $22.59 billion. During the same period 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 expect 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 paid a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a yield of 3.06%. The ex-dividend date is Friday, September 6th. PepsiCo’s payout ratio is presently 78.66%.

Analysts Set New Price Targets

PEP has been the topic of a number of recent analyst reports. BNP Paribas began coverage on shares of PepsiCo in a report on Monday, June 24th. They set a “neutral” rating and a $174.00 target price on the stock. TD Cowen dropped their target price on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a report on Wednesday, August 28th. Morgan Stanley decreased their price objective on shares of PepsiCo from $190.00 to $185.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Finally, Bank of America lowered their price target on shares of PepsiCo from $210.00 to $190.00 and set a “buy” rating on the stock in a report on Monday, July 8th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $185.53.

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.