Clinton Group Inc. purchased a new stake in PepsiCo, Inc. (NASDAQ:PEP) in the first quarter, according to its most recent filing with the SEC. The fund purchased 60,839 shares of the company’s stock, valued at approximately $6,641,000. PepsiCo comprises 0.7% of Clinton Group Inc.’s portfolio, making the stock its 29th biggest position.
Several other hedge funds and other institutional investors have also recently modified their holdings of PEP. Wagner Wealth Management LLC bought a new position in PepsiCo during the 4th quarter worth $109,000. Certified Advisory Corp bought a new position in PepsiCo during the 4th quarter worth $134,000. Well Done LLC bought a new position in PepsiCo during the 1st quarter worth $125,000. Pinnacle Wealth Planning Services Inc. bought a new position in PepsiCo during the 4th quarter worth $140,000. Finally, Avestar Capital LLC bought a new position in PepsiCo during the 4th quarter worth $154,000. Institutional investors and hedge funds own 69.95% of the company’s stock.
A number of research analysts recently commented on PEP shares. TheStreet upgraded PepsiCo from a “c+” rating to a “b-” rating in a research note on Friday, July 6th. Susquehanna Bancshares set a $130.00 price objective on PepsiCo and gave the stock a “buy” rating in a research note on Friday, May 4th. BidaskClub upgraded PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, June 26th. Cfra set a $129.00 price target on PepsiCo and gave the stock a “buy” rating in a research report on Tuesday, July 10th. Finally, JPMorgan Chase & Co. set a $128.00 price target on PepsiCo and gave the stock 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 seven have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $120.35.
PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, July 10th. The company reported $1.61 EPS for the quarter, beating the consensus estimate of $1.53 by $0.08. PepsiCo had a return on equity of 67.06% and a net margin of 7.14%. The business had revenue of $16.09 billion during the quarter, compared to the consensus estimate of $16.05 billion. During the same period in the prior year, the business posted $1.50 earnings per share. PepsiCo’s revenue was up 2.4% compared to the same quarter last year. equities analysts anticipate that PepsiCo, Inc. will post 5.69 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 7th will be issued a dividend of $0.9275 per share. This represents a $3.71 annualized dividend and a dividend yield of 3.29%. The ex-dividend date is Thursday, September 6th. PepsiCo’s dividend payout ratio is 70.94%.
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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