Bridgewater Wealth & Financial Management LLC increased its holdings in Pepsico, Inc. (NYSE:PEP) by 9.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 75,664 shares of the company’s stock after acquiring an additional 6,438 shares during the quarter. Pepsico makes up about 2.9% of Bridgewater Wealth & Financial Management LLC’s holdings, making the stock its 7th biggest position. Bridgewater Wealth & Financial Management LLC’s holdings in Pepsico were worth $8,738,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Parsec Financial Management Inc. increased its stake in Pepsico by 2.7% in the 1st quarter. Parsec Financial Management Inc. now owns 183,302 shares of the company’s stock valued at $20,504,000 after buying an additional 4,823 shares during the period. QV Investors Inc. increased its stake in Pepsico by 18.4% in the 1st quarter. QV Investors Inc. now owns 37,420 shares of the company’s stock valued at $4,185,000 after buying an additional 5,810 shares during the period. State of New Jersey Common Pension Fund D increased its stake in Pepsico by 73.1% in the 1st quarter. State of New Jersey Common Pension Fund D now owns 1,539,600 shares of the company’s stock valued at $172,220,000 after buying an additional 650,000 shares during the period. Russell Investments Group Ltd. increased its stake in Pepsico by 14.6% in the 1st quarter. Russell Investments Group Ltd. now owns 3,881,793 shares of the company’s stock valued at $434,310,000 after buying an additional 495,542 shares during the period. Finally, Taylor Cottrill Erickson & Associates Inc. boosted its position in shares of Pepsico by 3.6% during the 1st quarter. Taylor Cottrill Erickson & Associates Inc. now owns 5,222 shares of the company’s stock worth $584,000 after purchasing an additional 183 shares in the last quarter. 70.50% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have commented on PEP shares. Zacks Investment Research upgraded shares of Pepsico from a “hold” rating to a “buy” rating and set a $132.00 target price on the stock in a research report on Tuesday, August 22nd. Jefferies Group lowered shares of Pepsico from a “buy” rating to a “hold” rating and decreased their target price for the stock from $133.00 to $108.00 in a research report on Monday, October 2nd. Credit Suisse Group lowered shares of Pepsico from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $126.00 to $124.00 in a research report on Friday, September 8th. BidaskClub upgraded shares of Pepsico from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $115.00 target price on shares of Pepsico in a research report on Wednesday, September 6th. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $121.96.
Pepsico, Inc. (NYSE PEP) traded down $2.17 during trading on Thursday, hitting $116.73. 5,409,420 shares of the company traded hands, compared to its average volume of 3,672,536. Pepsico, Inc. has a 1-year low of $101.06 and a 1-year high of $119.39. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 2.32. The stock has a market cap of $166,010.00, a price-to-earnings ratio of 22.97, a PEG ratio of 3.20 and a beta of 0.68.
Pepsico (NYSE:PEP) last released its quarterly earnings data on Wednesday, October 4th. The company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.43 by $0.05. The business had revenue of $16.24 billion for the quarter, compared to analyst estimates of $16.35 billion. Pepsico had a net margin of 10.97% and a return on equity of 59.68%. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.40 EPS. research analysts forecast that Pepsico, Inc. will post 5.22 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, January 8th. Shareholders of record on Friday, December 1st will be issued a $0.805 dividend. The ex-dividend date is Thursday, November 30th. This represents a $3.22 dividend on an annualized basis and a yield of 2.76%. Pepsico’s dividend payout ratio (DPR) is 66.53%.
In other Pepsico news, insider Ramon Laguarta sold 21,449 shares of the company’s stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $110.51, for a total value of $2,370,328.99. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.26% of the stock is currently owned by corporate insiders.
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PepsiCo, Inc is a global food and beverage company. The Company’s portfolio of brands includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. The Company operates through six segments: Frito-Lay North America (FLNA), Quaker Foods North America (QFNA), North America Beverages (NAB), Latin America, Europe Sub-Saharan Africa (ESSA), and Asia, Middle East and North Africa (AMENA).
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