Watch Point Trust Co lifted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 6.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,182 shares of the company’s stock after acquiring an additional 1,289 shares during the quarter. PepsiCo comprises approximately 1.7% of Watch Point Trust Co’s holdings, making the stock its 28th largest position. Watch Point Trust Co’s holdings in PepsiCo were worth $2,197,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wagner Wealth Management LLC acquired a new position in PepsiCo in the 4th quarter valued at approximately $109,000. WP Advisors LLC acquired a new position in PepsiCo in the 2nd quarter valued at approximately $118,000. Certified Advisory Corp acquired a new position in PepsiCo in the 4th quarter valued at approximately $134,000. Well Done LLC acquired a new position in PepsiCo in the 1st quarter valued at approximately $125,000. Finally, Avestar Capital LLC acquired a new position in PepsiCo in the 4th quarter valued at approximately $154,000. Institutional investors own 70.45% of the company’s stock.
A number of brokerages have recently issued reports on PEP. Zacks Investment Research raised PepsiCo from a “sell” rating to a “hold” rating in a report on Sunday, July 15th. BMO Capital Markets dropped their target price on PepsiCo from $110.00 to $109.00 and set a “market perform” rating for the company in a report on Wednesday, October 3rd. BidaskClub raised PepsiCo from a “hold” rating to a “buy” rating in a report on Tuesday, June 26th. Macquarie cut PepsiCo from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $122.00 to $107.00 in a report on Friday. Finally, Guggenheim began coverage on PepsiCo in a report on Thursday, September 13th. They issued a “neutral” rating and a $117.00 target price for the company. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $117.89.
PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, October 2nd. The company reported $1.59 EPS for the quarter, topping the Zacks’ consensus estimate of $1.57 by $0.02. The business had revenue of $16.49 billion for the quarter, compared to analyst estimates of $16.38 billion. PepsiCo had a return on equity of 67.06% and a net margin of 7.14%. PepsiCo’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.48 EPS. Analysts forecast that PepsiCo, Inc. will post 5.69 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Friday, September 7th were given a dividend of $0.9275 per share. The ex-dividend date was Thursday, September 6th. This represents a $3.71 dividend on an annualized basis and a yield of 3.43%. PepsiCo’s dividend payout ratio (DPR) is presently 70.94%.
In other PepsiCo news, CEO Laxman Narasimhan sold 5,500 shares of the stock in a transaction on Thursday, October 4th. The stock was sold at an average price of $106.79, for a total value of $587,345.00. Following the transaction, the chief executive officer now directly owns 130,135 shares in the company, valued at approximately $13,897,116.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.27% of the stock is owned by corporate insiders.
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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