Wills Financial Group LLC purchased a new position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 51,875 shares of the company's stock, valued at approximately $7,778,000. PepsiCo accounts for approximately 3.4% of Wills Financial Group LLC's investment portfolio, making the stock its 8th biggest position.
Several other hedge funds have also recently modified their holdings of PEP. Elite Financial Inc. acquired a new position in PepsiCo in the 1st quarter valued at about $28,000. Measured Risk Portfolios Inc. acquired a new position in PepsiCo in the 4th quarter valued at about $31,000. GKV Capital Management Co. Inc. acquired a new position in PepsiCo in the 4th quarter valued at about $38,000. Bridge Generations Wealth Management LLC acquired a new position in PepsiCo in the 4th quarter valued at about $38,000. Finally, Sunbeam Capital Management LLC acquired a new position in PepsiCo in the 4th quarter valued at about $47,000. 73.07% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several analysts have commented on PEP shares. Morgan Stanley lifted their price target on PepsiCo from $153.00 to $165.00 and gave the company an "equal weight" rating in a report on Friday, July 18th. Evercore ISI set a $140.00 price target on PepsiCo in a report on Thursday, April 24th. Royal Bank Of Canada reiterated a "sector perform" rating and set a $148.00 target price on shares of PepsiCo in a report on Tuesday, June 24th. JPMorgan Chase & Co. decreased their target price on PepsiCo from $150.00 to $139.00 and set a "neutral" rating for the company in a report on Thursday, July 10th. Finally, Dbs Bank cut PepsiCo from a "strong-buy" rating to a "hold" rating in a report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $158.73.
Check Out Our Latest Stock Analysis on PepsiCo
PepsiCo Trading Up 1.0%
NASDAQ:PEP opened at $139.28 on Monday. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $180.91. The business's 50-day moving average price is $134.63 and its two-hundred day moving average price is $140.83. The company has a current ratio of 0.78, a quick ratio of 0.60 and a debt-to-equity ratio of 2.12. The firm has a market capitalization of $190.69 billion, a price-to-earnings ratio of 25.37, a PEG ratio of 3.71 and a beta of 0.45.
PepsiCo (NASDAQ:PEP - Get Free Report) last released its quarterly 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 company had revenue of $22.73 billion for the quarter, compared to analyst estimates of $22.28 billion. PepsiCo had a return on equity of 57.81% and a net margin of 8.23%. PepsiCo's revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.28 earnings per share. On average, equities analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current year.
PepsiCo Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be paid a $1.4225 dividend. This represents a $5.69 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Friday, September 5th. PepsiCo's dividend payout ratio (DPR) is currently 103.64%.
PepsiCo Company Profile
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Free Report)
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.
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