Addenda Capital Inc. raised its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 96.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 78,421 shares of the company’s stock after purchasing an additional 38,583 shares during the quarter. Addenda Capital Inc.’s holdings in PepsiCo were worth $8,292,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wagner Wealth Management LLC bought a new stake in shares of PepsiCo during the 4th quarter worth $109,000. Well Done LLC bought a new stake in shares of PepsiCo during the 1st quarter worth $125,000. Certified Advisory Corp bought a new stake in shares of PepsiCo during the 4th quarter worth $134,000. Pinnacle Wealth Planning Services Inc. bought a new stake in shares of PepsiCo during the 4th quarter worth $140,000. Finally, Avestar Capital LLC bought a new stake in shares of PepsiCo during the 4th quarter worth $154,000. 70.13% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently weighed in on PEP shares. BidaskClub raised PepsiCo from a “hold” rating to a “buy” rating in a research note on Wednesday, July 18th. SunTrust Banks raised their price objective on PepsiCo to $110.00 and gave the stock a “hold” rating in a research note on Tuesday, July 24th. Barclays reissued a “hold” rating and set a $108.00 price objective on shares of PepsiCo in a research note on Monday, April 30th. Susquehanna Bancshares set a $130.00 price objective on PepsiCo and gave the stock a “buy” rating in a research note on Friday, May 4th. Finally, JPMorgan Chase & Co. set a $128.00 price objective on PepsiCo and gave the stock a “buy” rating in a research note on Wednesday, July 11th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company’s stock. PepsiCo presently has an average rating of “Hold” and a consensus target price of $120.35.
Shares of PepsiCo stock opened at $114.96 on Friday. The firm has a market capitalization of $159.63 billion, a PE ratio of 21.98, a price-to-earnings-growth ratio of 2.66 and a beta of 0.71. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 3.00. PepsiCo, Inc. has a 12 month low of $95.94 and a 12 month high of $122.51.
PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, July 10th. The company reported $1.61 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.53 by $0.08. The business had revenue of $16.09 billion during the quarter, compared to analysts’ expectations of $16.05 billion. PepsiCo had a return on equity of 67.06% and a net margin of 7.14%. PepsiCo’s revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.50 earnings per share. analysts predict that PepsiCo, Inc. will post 5.69 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 7th will be given a $0.9275 dividend. The ex-dividend date is Thursday, September 6th. This represents a $3.71 annualized dividend and a dividend yield of 3.23%. PepsiCo’s dividend payout ratio (DPR) is presently 70.94%.
PepsiCo Company Profile
PepsiCo, Inc operates as a food and beverage company worldwide. Its Frito-Lay North America segment offers Lay's and Ruffles potato chips; Doritos, Tostitos, and Santitas tortilla chips; and Cheetos snacks, branded dips, and Fritos corn chips. The company's Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the brands Quaker, Aunt Jemima, Cap'n crunch, life, Quaker Chewy, and Rice-A-Roni.
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