Benson Investment Management Company Inc. bought a new stake in shares of PepsiCo, Inc. (NASDAQ:PEP) in the 2nd quarter, HoldingsChannel reports. The firm bought 24,715 shares of the company’s stock, valued at approximately $2,691,000. PepsiCo accounts for about 2.1% of Benson Investment Management Company Inc.’s portfolio, making the stock its 26th biggest holding.
Several other hedge funds and other institutional investors also recently made changes to their positions in PEP. Fort Point Capital Partners LLC raised its position in PepsiCo by 53.2% during the fourth quarter. Fort Point Capital Partners LLC now owns 3,683 shares of the company’s stock valued at $444,000 after buying an additional 1,279 shares during the period. Bruderman Asset Management LLC raised its position in PepsiCo by 3.9% during the first quarter. Bruderman Asset Management LLC now owns 59,583 shares of the company’s stock valued at $6,503,000 after buying an additional 2,255 shares during the period. Maple Capital Management Inc. raised its position in PepsiCo by 1.1% during the fourth quarter. Maple Capital Management Inc. now owns 66,036 shares of the company’s stock valued at $7,919,000 after buying an additional 717 shares during the period. Transamerica Financial Advisors Inc. raised its position in PepsiCo by 2.6% during the first quarter. Transamerica Financial Advisors Inc. now owns 30,387 shares of the company’s stock valued at $3,317,000 after buying an additional 771 shares during the period. Finally, TLP Group LLC acquired a new position in PepsiCo during the first quarter valued at $305,000. 70.90% of the stock is owned by institutional investors and hedge funds.
Shares of PEP stock opened at $113.72 on Wednesday. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 3.00. PepsiCo, Inc. has a fifty-two week low of $95.94 and a fifty-two week high of $122.51. The stock has a market capitalization of $162.59 billion, a price-to-earnings ratio of 21.74, a PEG ratio of 2.71 and a beta of 0.71.
PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, July 10th. The company reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.08. PepsiCo had a return on equity of 67.06% and a net margin of 7.14%. The company had revenue of $16.09 billion for the quarter, compared to analyst estimates of $16.05 billion. During the same period in the prior year, the firm posted $1.50 EPS. The business’s revenue was up 2.4% compared to the same quarter last year. equities research analysts expect that PepsiCo, Inc. will post 5.69 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 7th will be given a $0.9275 dividend. This represents a $3.71 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend is Thursday, September 6th. PepsiCo’s payout ratio is currently 70.94%.
Several research analysts recently weighed in on PEP shares. BidaskClub raised PepsiCo from a “hold” rating to a “buy” rating in a research report on Wednesday, July 18th. SunTrust Banks upped their price target on PepsiCo to $110.00 and gave the company a “hold” rating in a research report on Tuesday, July 24th. Barclays reissued a “hold” rating and set a $108.00 price target on shares of PepsiCo in a research report on Monday, April 30th. JPMorgan Chase & Co. set a $128.00 price target on PepsiCo and gave the company a “buy” rating in a research report on Wednesday, July 11th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $107.00 price target on shares of PepsiCo in a research report on Monday, August 6th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $119.67.
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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