NewEdge Advisors LLC Has $35.01 Million Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

NewEdge Advisors LLC raised its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 10.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 212,291 shares of the company’s stock after acquiring an additional 19,249 shares during the period. NewEdge Advisors LLC’s holdings in PepsiCo were worth $35,013,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Meixler Investment Management Ltd. grew its holdings in PepsiCo by 4.4% in the second quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company’s stock worth $228,000 after purchasing an additional 58 shares during the period. Opes Wealth Management LLC increased its position in shares of PepsiCo by 2.2% during the second quarter. Opes Wealth Management LLC now owns 2,748 shares of the company’s stock worth $453,000 after acquiring an additional 59 shares in the last quarter. Bank of Stockton raised its holdings in shares of PepsiCo by 2.3% in the 2nd quarter. Bank of Stockton now owns 2,716 shares of the company’s stock worth $448,000 after acquiring an additional 60 shares during the last quarter. Oxbow Advisors LLC lifted its position in PepsiCo by 0.7% in the 2nd quarter. Oxbow Advisors LLC now owns 8,982 shares of the company’s stock valued at $1,481,000 after acquiring an additional 60 shares in the last quarter. Finally, Security Financial Services INC. increased its holdings in PepsiCo by 1.6% during the 1st quarter. Security Financial Services INC. now owns 3,943 shares of the company’s stock worth $690,000 after purchasing an additional 61 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Price Performance

PEP stock opened at $170.00 on Friday. PepsiCo, Inc. has a 12 month low of $155.83 and a 12 month high of $183.41. 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 firm has a market capitalization of $233.51 billion, a P/E ratio of 24.67, a price-to-earnings-growth ratio of 2.93 and a beta of 0.53. The firm has a 50 day moving average of $173.77 and a 200-day moving average of $172.04.

PepsiCo (NASDAQ:PEP) last issued 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. The company had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $22.59 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The firm’s revenue was up .8% compared to the same quarter last year. During the same quarter last year, the business posted $2.09 earnings per share. As a group, sell-side analysts predict that PepsiCo, Inc. will post 8.14 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be paid a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date is Friday, September 6th. PepsiCo’s dividend payout ratio is currently 78.66%.

Analysts Set New Price Targets

Several brokerages recently issued reports on PEP. Jefferies Financial Group cut their target price on PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. StockNews.com cut PepsiCo from a “buy” rating to a “hold” rating in a research note on Friday, September 20th. Wells Fargo & Company lowered their price target on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Bank of America reduced their price objective on PepsiCo from $210.00 to $190.00 and set a “buy” rating for the company in a report on Monday, July 8th. Finally, Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price on the stock. in a research note on Friday, September 20th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $185.53.

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.