Prestige Wealth Management Group LLC Purchases 151 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Prestige Wealth Management Group LLC grew its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,997 shares of the company’s stock after acquiring an additional 151 shares during the period. Prestige Wealth Management Group LLC’s holdings in PepsiCo were worth $659,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Norges Bank purchased a new position in PepsiCo during the 4th quarter valued at $2,686,139,000. Franklin Resources Inc. increased its position in shares of PepsiCo by 17.7% during the fourth quarter. Franklin Resources Inc. now owns 8,954,951 shares of the company’s stock valued at $1,520,909,000 after buying an additional 1,345,065 shares during the period. Massachusetts Financial Services Co. MA raised its stake in PepsiCo by 15.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,421,163 shares of the company’s stock worth $1,430,250,000 after buying an additional 1,105,127 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in PepsiCo by 6.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,644,059 shares of the company’s stock valued at $1,128,413,000 after acquiring an additional 375,963 shares in the last quarter. Finally, Stifel Financial Corp grew its holdings in shares of PepsiCo by 15.7% during the 4th quarter. Stifel Financial Corp now owns 5,121,600 shares of the company’s stock worth $869,869,000 after acquiring an additional 693,873 shares during the period. 73.07% of the stock is owned by institutional investors.

PepsiCo Stock Down 0.3 %

Shares of PepsiCo stock traded down $0.60 on Friday, reaching $177.34. The company’s stock had a trading volume of 6,395,276 shares, compared to its average volume of 5,471,998. The company has a market capitalization of $243.80 billion, a price-to-earnings ratio of 25.74, a P/E/G ratio of 2.98 and a beta of 0.53. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.87. PepsiCo, Inc. has a 52 week low of $155.83 and a 52 week high of $183.41. The firm’s fifty day simple moving average is $170.96 and its two-hundred day simple moving average is $171.15.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Thursday, July 11th. The company reported $2.28 earnings per share 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 analyst estimates of $22.59 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. PepsiCo’s revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.09 EPS. Equities analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be issued a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.06%. The ex-dividend date is Friday, September 6th. PepsiCo’s dividend payout ratio is currently 78.66%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. TD Cowen dropped their price target on PepsiCo from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Wells Fargo & Company reduced their target price on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. BNP Paribas assumed coverage on shares of PepsiCo in a research report on Monday, June 24th. They set a “neutral” rating and a $174.00 price target for the company. JPMorgan Chase & Co. cut their price objective on shares of PepsiCo from $184.00 to $182.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. Finally, Barclays boosted their price target on PepsiCo from $179.00 to $187.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.