Norden Group LLC Acquires 180 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Norden Group LLC grew its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.3% in the 2nd quarter, HoldingsChannel reports. The firm owned 7,920 shares of the company’s stock after acquiring an additional 180 shares during the quarter. Norden Group LLC’s holdings in PepsiCo were worth $1,306,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Valued Wealth Advisors LLC increased its holdings in PepsiCo by 77.5% during the first quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after buying an additional 69 shares during the last quarter. POM Investment Strategies LLC increased its stake in shares of PepsiCo by 141.3% during the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after purchasing an additional 106 shares during the last quarter. Summit Securities Group LLC bought a new stake in shares of PepsiCo in the 2nd quarter worth approximately $30,000. Fortis Group Advisors LLC lifted its stake in PepsiCo by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock valued at $33,000 after purchasing an additional 97 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. bought a new position in PepsiCo during the first quarter valued at $35,000. 73.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on PEP shares. Royal Bank of Canada dropped their price target on PepsiCo from $180.00 to $177.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. DZ Bank downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective on the stock. in a report on Friday, July 19th. JPMorgan Chase & Co. lowered their price target on shares of PepsiCo from $184.00 to $182.00 and set a “neutral” rating on the stock in a research report on Friday, July 12th. TD Cowen reduced their price objective on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Finally, Morgan Stanley dropped their target price on PepsiCo from $190.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $185.53.

PepsiCo Stock Down 0.3 %

PEP stock opened at $177.34 on Friday. PepsiCo, Inc. has a 1-year low of $155.83 and a 1-year high of $183.41. The stock has a market cap of $243.59 billion, a price-to-earnings ratio of 25.74, a price-to-earnings-growth ratio of 2.98 and a beta of 0.53. The company has a current ratio of 0.83, a quick ratio of 0.64 and a debt-to-equity ratio of 1.87. The company’s 50 day moving average is $170.96 and its 200 day moving average is $171.15.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Thursday, July 11th. The company reported $2.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.12. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The company had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $22.59 billion. During the same period in the previous year, the firm posted $2.09 EPS. The firm’s revenue was up .8% compared to the same quarter last year. Sell-side analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be given a dividend of $1.355 per share. The ex-dividend date is Friday, September 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.06%. PepsiCo’s dividend payout ratio (DPR) is presently 78.66%.

PepsiCo 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.