Somerville Kurt F trimmed its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 5.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,587 shares of the company’s stock after selling 2,635 shares during the quarter. Somerville Kurt F’s holdings in PepsiCo were worth $5,507,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently modified their holdings of the company. Wagner Wealth Management LLC bought a new stake in PepsiCo in the fourth quarter worth approximately $109,000. WP Advisors LLC bought a new stake in PepsiCo in the second quarter worth approximately $118,000. Well Done LLC bought a new stake in PepsiCo in the first quarter worth approximately $125,000. Certified Advisory Corp bought a new stake in PepsiCo in the fourth quarter worth approximately $134,000. Finally, Avestar Capital LLC bought a new stake in PepsiCo in the fourth quarter worth approximately $154,000. Institutional investors own 70.49% of the company’s stock.
Shares of NASDAQ:PEP opened at $114.57 on Monday. The company has a market cap of $161.02 billion, a P/E ratio of 21.91, a P/E/G ratio of 2.68 and a beta of 0.66. The company has a debt-to-equity ratio of 3.00, a quick ratio of 1.09 and a current ratio of 1.24. PepsiCo, Inc. has a 12-month low of $95.94 and a 12-month high of $122.51.
PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, July 10th. The company reported $1.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.53 by $0.08. The company had revenue of $16.09 billion for the quarter, compared to analysts’ expectations of $16.05 billion. PepsiCo had a return on equity of 67.06% and a net margin of 7.14%. PepsiCo’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.50 earnings per share. research analysts predict that PepsiCo, Inc. will post 5.69 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 7th will be given a $0.9275 dividend. The ex-dividend date is Thursday, September 6th. This represents a $3.71 annualized dividend and a yield of 3.24%. PepsiCo’s dividend payout ratio is currently 70.94%.
A number of brokerages have commented on PEP. BidaskClub raised PepsiCo from a “hold” rating to a “buy” rating in a research note on Wednesday, July 18th. Goldman Sachs Group reissued a “sell” rating and issued a $108.00 price objective on shares of PepsiCo in a research note on Monday, August 20th. SunTrust Banks lifted their target price on PepsiCo to $110.00 and gave the company a “hold” rating in a research report on Tuesday, July 24th. Guggenheim started coverage on PepsiCo in a research report on Thursday. They set a “neutral” rating and a $117.00 target price on the stock. Finally, JPMorgan Chase & Co. set a $128.00 target price on PepsiCo and gave the company a “buy” rating in a research report on Wednesday, July 11th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $119.50.
PepsiCo, Inc operates as a food and beverage company worldwide. Its Frito-Lay North America segment offers Lay's and Ruffles potato chips; Doritos, Tostitos, and Santitas tortilla chips; and Cheetos snacks, branded dips, and Fritos corn chips. The company's 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 brands Quaker, Aunt Jemima, Cap'n crunch, life, Quaker Chewy, and Rice-A-Roni.
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