Douglass Winthrop Advisors LLC lifted its stake in PepsiCo, Inc. (NASDAQ:PEP) by 9.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 68,695 shares of the company’s stock after buying an additional 5,864 shares during the period. Douglass Winthrop Advisors LLC’s holdings in PepsiCo were worth $7,479,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Wagner Wealth Management LLC bought a new stake in PepsiCo during the 4th quarter worth approximately $109,000. Well Done LLC bought a new stake in PepsiCo during the 1st quarter worth approximately $125,000. Certified Advisory Corp bought a new stake in PepsiCo during the 4th quarter worth approximately $134,000. Pinnacle Wealth Planning Services Inc. bought a new stake in PepsiCo during the 4th quarter worth approximately $140,000. Finally, Avestar Capital LLC bought a new stake in PepsiCo during the 4th quarter worth approximately $154,000. 70.49% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently commented on PEP shares. Morgan Stanley increased their price target on PepsiCo from $123.00 to $127.00 and gave the stock a “buy” rating in a research report on Wednesday, July 11th. BidaskClub upgraded PepsiCo from a “sell” rating to a “hold” rating in a research report on Tuesday, June 12th. Citigroup increased their price target on PepsiCo from $111.00 to $118.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 11th. Cfra set a $129.00 price target on PepsiCo and gave the stock a “buy” rating in a research report on Tuesday, July 10th. Finally, Zacks Investment Research upgraded PepsiCo from a “sell” rating to a “hold” rating in a research report on Friday, July 6th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $120.00.
Shares of PEP opened at $113.12 on Thursday. The firm has a market capitalization of $158.42 billion, a price-to-earnings ratio of 21.63, a PEG ratio of 2.64 and a beta of 0.67. The company has a debt-to-equity ratio of 3.00, a quick ratio of 1.09 and a current ratio of 1.24. PepsiCo, Inc. has a 52 week low of $95.94 and a 52 week high of $122.51.
PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, July 10th. The company reported $1.61 EPS for the quarter, beating the Zacks’ consensus estimate of $1.53 by $0.08. The firm had revenue of $16.09 billion for the quarter, compared to analyst estimates of $16.05 billion. PepsiCo had a return on equity of 67.06% and a net margin of 7.14%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period last year, the company earned $1.50 EPS. analysts forecast that PepsiCo, Inc. will post 5.69 EPS for the current year.
The company also recently disclosed 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. The ex-dividend date is Thursday, September 6th. This represents a $3.71 dividend on an annualized basis and a yield of 3.28%. PepsiCo’s payout ratio is 70.94%.
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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