Busey Trust CO grew its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 164,301 shares of the company’s stock after purchasing an additional 5,389 shares during the period. PepsiCo comprises about 1.8% of Busey Trust CO’s holdings, making the stock its 12th biggest holding. Busey Trust CO’s holdings in PepsiCo were worth $17,887,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wagner Wealth Management LLC acquired a new position in PepsiCo during the fourth quarter valued at $109,000. Well Done LLC acquired a new position in PepsiCo in the 1st quarter worth about $125,000. Certified Advisory Corp acquired a new position in PepsiCo in the 4th quarter worth about $134,000. Pinnacle Wealth Planning Services Inc. acquired a new position in PepsiCo in the 4th quarter worth about $140,000. Finally, Avestar Capital LLC acquired a new position in PepsiCo in the 4th quarter worth about $154,000. 70.40% of the stock is owned by institutional investors and hedge funds.
Several research analysts have weighed in on PEP shares. BidaskClub raised PepsiCo from a “strong sell” rating to a “sell” rating in a research report on Thursday, May 24th. JPMorgan Chase & Co. set a $128.00 target price on PepsiCo and gave the stock a “buy” rating in a research report on Wednesday, July 11th. Morgan Stanley upped their target price on PepsiCo from $123.00 to $127.00 and gave the stock a “buy” rating in a research report on Wednesday, July 11th. Deutsche Bank lowered PepsiCo from a “buy” rating to a “hold” rating and set a $116.00 target price on the stock. in a research report on Tuesday, July 3rd. Finally, Citigroup upped their target price on PepsiCo from $111.00 to $118.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 11th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $120.31.
PEP opened at $113.50 on Friday. The stock has a market cap of $158.42 billion, a PE ratio of 21.70, a P/E/G ratio of 2.64 and a beta of 0.66. PepsiCo, Inc. has a 52-week low of $95.94 and a 52-week high of $122.51. 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 (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, July 10th. The company reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.08. The company had revenue of $16.09 billion during the quarter, compared to the consensus estimate of $16.05 billion. PepsiCo had a return on equity of 67.06% and a net margin of 7.14%. The firm’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.50 EPS. equities research analysts forecast that PepsiCo, Inc. will post 5.69 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 7th will be paid a dividend of $0.9275 per share. The ex-dividend date of this dividend is Thursday, September 6th. This represents a $3.71 annualized dividend and a dividend yield of 3.27%. 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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