Buckley Wealth Management LLC boosted its position in shares of PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 19.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,439 shares of the company’s stock after purchasing an additional 1,200 shares during the quarter. Buckley Wealth Management LLC’s holdings in PepsiCo were worth $1,378,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of PEP. Mirae Asset Global Investments Co. Ltd. raised its position in shares of PepsiCo by 34.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,128,044 shares of the company’s stock worth $188,812,000 after purchasing an additional 286,169 shares during the period. AMI Investment Management Inc. raised its holdings in shares of PepsiCo by 0.7% during the first quarter. AMI Investment Management Inc. now owns 16,627 shares of the company’s stock worth $2,783,000 after acquiring an additional 113 shares during the period. Mather Group LLC. lifted its position in PepsiCo by 29.3% in the 1st quarter. Mather Group LLC. now owns 5,562 shares of the company’s stock valued at $931,000 after acquiring an additional 1,262 shares in the last quarter. Wsfs Capital Management LLC increased its holdings in PepsiCo by 117.2% during the 1st quarter. Wsfs Capital Management LLC now owns 2,995 shares of the company’s stock worth $501,000 after purchasing an additional 1,616 shares in the last quarter. Finally, Equitable Holdings Inc. raised its stake in shares of PepsiCo by 8.5% in the 1st quarter. Equitable Holdings Inc. now owns 26,909 shares of the company’s stock valued at $4,504,000 after purchasing an additional 2,116 shares during the period. Institutional investors own 71.40% of the company’s stock.
Analysts Set New Price Targets
PEP has been the topic of a number of recent research reports. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a research report on Thursday, September 7th. Barclays reduced their target price on shares of PepsiCo from $206.00 to $198.00 in a report on Monday, July 10th. Evercore ISI boosted their price target on shares of PepsiCo from $190.00 to $195.00 in a research report on Friday, July 14th. Morgan Stanley downgraded PepsiCo from an “overweight” rating to an “equal weight” rating and set a $210.00 target price on the stock. in a research report on Monday, July 17th. Finally, Wedbush increased their price target on PepsiCo from $200.00 to $206.00 and gave the company an “outperform” rating in a research report on Friday, July 14th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, PepsiCo presently has a consensus rating of “Hold” and an average target price of $192.00.
PepsiCo Trading Down 0.3 %
Shares of PepsiCo stock opened at $179.38 on Tuesday. PepsiCo, Inc. has a 52-week low of $160.98 and a 52-week high of $196.88. The stock has a market cap of $246.93 billion, a PE ratio of 31.42, a PEG ratio of 2.95 and a beta of 0.54. The firm has a 50-day moving average of $182.67 and a 200-day moving average of $184.61. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.64 and a current ratio of 0.84.
PepsiCo (NASDAQ:PEP – Get Free Report) last issued its quarterly earnings results on Thursday, July 13th. The company reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.13. The business had revenue of $22.32 billion during the quarter, compared to analysts’ expectations of $21.73 billion. PepsiCo had a return on equity of 56.05% and a net margin of 8.76%. The firm’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.86 earnings per share. As a group, sell-side analysts forecast that PepsiCo, Inc. will post 7.48 EPS for the current year.
PepsiCo Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 1st will be issued a $1.265 dividend. This represents a $5.06 annualized dividend and a yield of 2.82%. The ex-dividend date is Thursday, August 31st. PepsiCo’s dividend payout ratio is currently 88.62%.
PepsiCo, Inc manufactures, markets, distributes, and sells 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.
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