Keudell Morrison Wealth Management Grows Stock Position in PepsiCo, Inc. (NASDAQ:PEP)
Keudell Morrison Wealth Management lifted its stake in PepsiCo, Inc. (NASDAQ:PEP) by 11.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,708 shares of the company’s stock after buying an additional 483 shares during the period. Keudell Morrison Wealth Management’s holdings in PepsiCo were worth $623,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in PepsiCo during the 4th quarter valued at about $1,985,537,000. BlackRock Inc. increased its holdings in PepsiCo by 2.6% during the 1st quarter. BlackRock Inc. now owns 109,109,695 shares of the company’s stock valued at $13,104,075,000 after purchasing an additional 2,724,092 shares during the period. Capital International Investors purchased a new position in PepsiCo during the 1st quarter valued at about $227,508,000. Advisor Group Holdings Inc. purchased a new position in PepsiCo during the 1st quarter valued at about $55,808,000. Finally, Franklin Resources Inc. increased its holdings in PepsiCo by 13.2% during the 1st quarter. Franklin Resources Inc. now owns 11,136,832 shares of the company’s stock valued at $1,337,534,000 after purchasing an additional 1,298,838 shares during the period. Hedge funds and other institutional investors own 70.60% of the company’s stock.
A number of brokerages recently issued reports on PEP. Barclays restated a “hold” rating and set a $136.00 price target on shares of PepsiCo in a report on Friday, April 17th. SunTrust Banks upped their target price on PepsiCo from $125.00 to $130.00 and gave the stock a “hold” rating in a report on Tuesday. Cowen upped their target price on PepsiCo from $135.00 to $156.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. DZ Bank reiterated a “buy” rating and set a $136.00 target price on shares of PepsiCo in a report on Thursday, March 26th. Finally, Cfra upped their target price on PepsiCo from $145.00 to $150.00 and gave the stock a “strong-buy” rating in a report on Tuesday, April 28th. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $143.00.
PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Monday, July 13th. The company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.07. The business had revenue of $15.95 billion for the quarter, compared to analysts’ expectations of $15.47 billion. PepsiCo had a return on equity of 55.74% and a net margin of 10.62%. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.54 EPS. As a group, research analysts forecast that PepsiCo, Inc. will post 5.32 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, June 5th were given a $1.0225 dividend. The ex-dividend date was Thursday, June 4th. This is a boost from PepsiCo’s previous quarterly dividend of $0.96. This represents a $4.09 annualized dividend and a yield of 3.03%. PepsiCo’s dividend payout ratio is 73.96%.
PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its 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 Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.
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