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

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

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

Analysts Set New Price Targets

Several research analysts recently commented on PEP shares. BNP Paribas started coverage on PepsiCo in a research report on Monday, June 24th. They set a “neutral” rating and a $174.00 price target for the company. TD Cowen decreased their target price on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. DZ Bank lowered shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target on the stock. in a research report on Friday, July 19th. JPMorgan Chase & Co. decreased their price objective on shares of PepsiCo from $184.00 to $182.00 and set a “neutral” rating for the company in a research report on Friday, July 12th. Finally, StockNews.com downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Friday, September 20th. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $185.53.

PepsiCo Price Performance

Shares of NASDAQ PEP opened at $170.00 on Friday. The business’s 50 day moving average is $173.77 and its 200-day moving average is $172.04. The firm has a market cap 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. PepsiCo, Inc. has a 1-year low of $155.83 and a 1-year 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.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Thursday, July 11th. The company reported $2.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.12. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The company had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $22.59 billion. During the same quarter in the previous year, the business posted $2.09 earnings per share. PepsiCo’s quarterly revenue was up .8% on a year-over-year basis. Equities research analysts predict that PepsiCo, Inc. will post 8.14 earnings per share for the current year.

PepsiCo Dividend Announcement

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

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.