NEXT Financial Group Inc boosted its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 10.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,548 shares of the company’s stock after purchasing an additional 1,411 shares during the quarter. NEXT Financial Group Inc’s holdings in PepsiCo were worth $1,924,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the business. Rezny Wealth Management Inc. acquired a new stake in PepsiCo in the first quarter valued at approximately $12,868,000. Beutel Goodman & Co Ltd. acquired a new stake in PepsiCo in the fourth quarter valued at approximately $27,000. Creative Financial Designs Inc. ADV acquired a new stake in PepsiCo in the second quarter valued at approximately $26,000. Marquette Asset Management LLC acquired a new stake in PepsiCo in the second quarter valued at approximately $40,000. Finally, New England Investment & Retirement Group Inc. acquired a new stake in PepsiCo in the first quarter valued at approximately $41,000. Institutional investors and hedge funds own 70.60% of the company’s stock.
A number of equities research analysts have commented on the company. Royal Bank of Canada reissued a “buy” rating and issued a $153.00 price objective on shares of PepsiCo in a research note on Tuesday, April 14th. Morgan Stanley reissued a “buy” rating on shares of PepsiCo in a research note on Wednesday, May 13th. BidaskClub raised PepsiCo from a “sell” rating to a “hold” rating in a research report on Friday, June 12th. Goldman Sachs Group began coverage on PepsiCo in a research report on Wednesday, April 1st. They set a “conviction-buy” rating on the stock. Finally, Citigroup cut their target price on PepsiCo from $157.00 to $148.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 29th. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $143.00.
PEP stock opened at $136.06 on Friday. The stock’s fifty day simple moving average is $132.43 and its two-hundred day simple moving average is $133.69. The company has a current ratio of 0.97, a quick ratio of 0.79 and a debt-to-equity ratio of 3.05. PepsiCo, Inc. has a 1-year low of $101.42 and a 1-year high of $147.20. The stock has a market cap of $188.78 billion, a P/E ratio of 27.82, a P/E/G ratio of 4.54 and a beta of 0.58.
PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Monday, July 13th. The company reported $1.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.07. PepsiCo had a return on equity of 54.77% and a net margin of 10.13%. The business had revenue of $15.95 billion for the quarter, compared to analysts’ expectations of $15.47 billion. During the same quarter in the previous year, the firm earned $1.54 earnings per share. The business’s revenue was down 3.1% on a year-over-year basis. As a group, analysts forecast that PepsiCo, Inc. will post 5.34 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 4th will be given a $1.0225 dividend. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $4.09 annualized dividend and a yield of 3.01%. PepsiCo’s dividend payout ratio is currently 73.96%.
In other PepsiCo news, CEO Steven C. Williams sold 2,600 shares of the business’s stock in a transaction on Wednesday, July 15th. The stock was sold at an average price of $134.32, for a total value of $349,232.00. Following the sale, the chief executive officer now directly owns 67,718 shares in the company, valued at $9,095,881.76. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Marie T. Gallagher sold 3,335 shares of the business’s stock in a transaction on Thursday, July 16th. The shares were sold at an average price of $133.32, for a total value of $444,622.20. Following the completion of the sale, the senior vice president now owns 54,029 shares in the company, valued at $7,203,146.28. The disclosure for this sale can be found here. In the last three months, insiders sold 26,655 shares of company stock worth $3,591,883. Insiders own 0.13% of the company’s stock.
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.
Further Reading: What is an Initial Coin Offering (ICO)?
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