Weather Gauge Advisory LLC cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 23.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,976 shares of the company’s stock after selling 1,200 shares during the period. Weather Gauge Advisory LLC’s holdings in PepsiCo were worth $526,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Beutel Goodman & Co Ltd. acquired a new position in shares of PepsiCo during the fourth quarter valued at about $27,000. New England Investment & Retirement Group Inc. purchased a new stake in PepsiCo in the 1st quarter valued at $41,000. Lion Street Advisors LLC purchased a new stake in PepsiCo in the 1st quarter valued at $43,000. Benjamin Edwards Inc. raised its position in PepsiCo by 190.3% in the 1st quarter. Benjamin Edwards Inc. now owns 360 shares of the company’s stock valued at $43,000 after buying an additional 236 shares during the last quarter. Finally, Capital Wealth Alliance LLC purchased a new position in PepsiCo during the 4th quarter worth $48,000. Institutional investors own 70.60% of the company’s stock.
Several research analysts recently weighed in on PEP shares. Barclays restated a “hold” rating and set a $136.00 price target on shares of PepsiCo in a report on Friday, April 17th. Credit Suisse Group raised shares of PepsiCo from an “underperform” rating to an “outperform” rating and lifted their target price for the stock from $138.00 to $144.00 in a research report on Friday, March 27th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $153.00 target price on shares of PepsiCo in a report on Tuesday, April 14th. Morgan Stanley reaffirmed a “buy” rating on shares of PepsiCo in a research report on Wednesday, May 13th. Finally, Jefferies Financial Group upped their price objective on PepsiCo from $130.00 to $135.00 and gave the company a “hold” rating in a research note on Thursday, July 9th. Eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. PepsiCo has a consensus rating of “Buy” and a consensus target price of $143.00.
PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Monday, July 13th. The company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.07. The company had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.47 billion. PepsiCo had a net margin of 10.62% and a return on equity of 55.74%. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.54 earnings per share. On average, analysts expect that PepsiCo, Inc. will post 5.32 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th were given a dividend of $1.0225 per share. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $4.09 annualized dividend and a dividend yield of 3.02%. This is an increase from PepsiCo’s previous quarterly dividend of $0.96. PepsiCo’s dividend payout ratio is currently 73.96%.
PepsiCo Company Profile
PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.
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