Wilkins Investment Counsel Inc. Raises Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Key Points

• Wilkins Investment Counsel Inc. increased its holdings in PepsiCo by 15.7%, owning 109,402 shares worth $16.4 million, making PepsiCo the firm's 14th biggest investment.
• PepsiCo reported a quarterly earnings per share of $2.12, surpassing expectations, and generated $22.73 billion in revenue, reflecting a 1.0% year-over-year growth.
• The company announced a quarterly dividend of $1.4225 per share, translating to an annual yield of 3.97%, despite a high dividend payout ratio of 103.64%.

Wilkins Investment Counsel Inc. lifted its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 15.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 109,402 shares of the company's stock after purchasing an additional 14,871 shares during the period. PepsiCo accounts for 2.3% of Wilkins Investment Counsel Inc.'s holdings, making the stock its 14th biggest holding. Wilkins Investment Counsel Inc.'s holdings in PepsiCo were worth $16,404,000 as of its most recent SEC filing.

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

PepsiCo Price Performance

Shares of NASDAQ:PEP traded down $1.06 during midday trading on Friday, reaching $143.45. 6,596,497 shares of the company's stock traded hands, compared to its average volume of 10,334,833. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $180.91. The company has a market cap of $196.39 billion, a P/E ratio of 26.13, a PEG ratio of 3.85 and a beta of 0.45. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.60 and a current ratio of 0.78. The company has a fifty day simple moving average of $133.58 and a two-hundred day simple moving average of $141.03.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The company reported $2.12 earnings per share for the quarter, beating analysts' consensus estimates of $2.03 by $0.09. PepsiCo had a return on equity of 57.81% and a net margin of 8.23%. The company had revenue of $22.73 billion for the quarter, compared to analyst estimates of $22.28 billion. During the same quarter last year, the firm posted $2.28 EPS. The firm's revenue for the quarter was up 1.0% on a year-over-year basis. Equities analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be given a $1.4225 dividend. This represents a $5.69 annualized dividend and a yield of 3.97%. The ex-dividend date is Friday, September 5th. PepsiCo's dividend payout ratio is currently 103.64%.

Analyst Ratings Changes

PEP has been the topic of several analyst reports. Evercore ISI set a $140.00 price target on shares of PepsiCo in a report on Thursday, April 24th. Wells Fargo & Company boosted their target price on shares of PepsiCo from $140.00 to $154.00 and gave the company an "equal weight" rating in a research note on Friday, July 18th. Citigroup boosted their target price on shares of PepsiCo from $160.00 to $168.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of PepsiCo in a research note on Thursday, July 17th. Finally, Barclays boosted their target price on shares of PepsiCo from $132.00 to $144.00 and gave the company an "equal weight" rating in a research note on Monday. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $158.73.

PepsiCo Company Profile

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.