Magnolia Capital Advisors LLC Takes Position in PepsiCo, Inc. (NASDAQ:PEP)

Magnolia Capital Advisors LLC purchased a new stake in shares of PepsiCo, Inc. (NASDAQ:PEP) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 8,613 shares of the company’s stock, valued at approximately $1,421,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of PEP. Flossbach Von Storch AG increased its position in shares of PepsiCo by 67.2% in the first quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock worth $798,047,000 after purchasing an additional 1,832,385 shares during the last quarter. PineStone Asset Management Inc. increased its position in shares of PepsiCo by 125.2% in the second quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock worth $452,003,000 after purchasing an additional 1,523,631 shares during the last quarter. Van ECK Associates Corp increased its position in shares of PepsiCo by 429.3% in the first quarter. Van ECK Associates Corp now owns 1,454,793 shares of the company’s stock worth $254,603,000 after purchasing an additional 1,179,922 shares during the last quarter. Confluence Investment Management LLC bought a new position in shares of PepsiCo in the first quarter worth approximately $166,243,000. Finally, Legal & General Group Plc boosted its stake in PepsiCo by 7.2% in the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock worth $2,234,400,000 after buying an additional 905,468 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Price Performance

PEP opened at $170.00 on Monday. The stock has a fifty day simple moving average of $173.77 and a two-hundred day simple moving average of $172.08. The company has a current ratio of 0.83, a quick ratio of 0.64 and a debt-to-equity ratio of 1.87. The company has a market cap of $233.51 billion, a price-to-earnings ratio of 24.67, a price-to-earnings-growth ratio of 2.93 and a beta of 0.53. PepsiCo, Inc. has a 12-month low of $155.83 and a 12-month high of $183.41.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Thursday, July 11th. The company reported $2.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.12. The business had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $22.59 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.09 earnings per share. Research analysts predict that PepsiCo, Inc. will post 8.14 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be issued a $1.355 dividend. The ex-dividend date is Friday, September 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.19%. PepsiCo’s dividend payout ratio (DPR) is 78.66%.

Analyst Ratings Changes

PEP has been the subject of several research reports. Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price for the company. in a research note on Friday, September 20th. Bank of America dropped their price objective on PepsiCo from $210.00 to $190.00 and set a “buy” rating for the company in a research note on Monday, July 8th. Barclays increased their price objective on PepsiCo from $179.00 to $187.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. DZ Bank lowered PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective for the company. in a research note on Friday, July 19th. Finally, Jefferies Financial Group dropped their price objective on PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, PepsiCo has a consensus rating of “Hold” and an average price target of $185.53.

PepsiCo 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.