Valley Wealth Managers Inc. Acquires 7,359 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Key Points

• Valley Wealth Managers Inc. increased its stake in PepsiCo by 38.4% during the first quarter, holding 26,537 shares valued at approximately $3.98 million.
• Research analysts have a consensus rating of "Hold" on PepsiCo's stock, with an average target price of $158.73.
• PepsiCo recently announced a quarterly dividend of $1.4225, which signifies a dividend yield of 3.97% and indicates a payout ratio of 103.64%.

Valley Wealth Managers Inc. grew its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 38.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,537 shares of the company's stock after acquiring an additional 7,359 shares during the period. Valley Wealth Managers Inc.'s holdings in PepsiCo were worth $3,979,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. WealthTrak Capital Management LLC purchased a new stake in PepsiCo in the 4th quarter worth $28,000. Elite Financial Inc. purchased a new stake in PepsiCo in the 1st quarter worth $28,000. Prudent Man Investment Management Inc. purchased a new stake in PepsiCo in the 4th quarter worth $30,000. Measured Risk Portfolios Inc. purchased a new stake in PepsiCo in the 4th quarter worth $31,000. Finally, Summit Securities Group LLC purchased a new stake in PepsiCo in the 4th quarter worth $33,000. Institutional investors own 73.07% of the company's stock.

PepsiCo Trading Down 0.7%

PEP stock traded down $1.06 during mid-day trading on Friday, reaching $143.45. The company had a trading volume of 6,596,497 shares, compared to its average volume of 10,334,833. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.78 and a quick ratio of 0.60. The company has a market capitalization of $196.39 billion, a PE ratio of 26.13, a price-to-earnings-growth ratio of 3.82 and a beta of 0.45. The firm has a 50 day moving average of $133.58 and a 200 day moving average of $140.99. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $180.91.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its earnings results on Thursday, July 17th. The company reported $2.12 EPS for the quarter, topping analysts' consensus estimates of $2.03 by $0.09. The business had revenue of $22.73 billion for the quarter, compared to the consensus estimate of $22.28 billion. PepsiCo had a net margin of 8.23% and a return on equity of 57.81%. The company's revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.28 EPS. On average, equities analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be paid a dividend of $1.4225 per share. The ex-dividend date is Friday, September 5th. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.97%. PepsiCo's dividend payout ratio is presently 103.64%.

Wall Street Analyst Weigh In

Several brokerages have commented on PEP. Cowen reiterated a "hold" rating on shares of PepsiCo in a research note on Thursday, July 17th. JPMorgan Chase & Co. decreased their target price on shares of PepsiCo from $150.00 to $139.00 and set a "neutral" rating on the stock in a research report on Thursday, July 10th. Barclays upped their target price on shares of PepsiCo from $132.00 to $144.00 and gave the company an "equal weight" rating in a research report on Monday, July 21st. Royal Bank Of Canada restated a "sector perform" rating and set a $148.00 target price on shares of PepsiCo in a research report on Tuesday, June 24th. Finally, Evercore ISI set a $140.00 target price on shares of PepsiCo in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $158.73.

About PepsiCo

PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of 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.