Boenning & Scattergood Inc. Purchases 543 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Boenning & Scattergood Inc. grew its position in PepsiCo, Inc. (NASDAQ:PEPGet Rating) by 0.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 58,217 shares of the company’s stock after purchasing an additional 543 shares during the period. PepsiCo makes up 1.8% of Boenning & Scattergood Inc.’s holdings, making the stock its 6th largest position. Boenning & Scattergood Inc.’s holdings in PepsiCo were worth $9,702,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of PEP. Cordant Inc. purchased a new stake in shares of PepsiCo in the first quarter worth about $27,000. Landmark Wealth Management LLC purchased a new stake in shares of PepsiCo in the first quarter worth about $29,000. Strategic Asset Management LLC boosted its stake in shares of PepsiCo by 53.3% in the first quarter. Strategic Asset Management LLC now owns 276 shares of the company’s stock worth $46,000 after buying an additional 96 shares during the last quarter. Retirement Group LLC boosted its stake in shares of PepsiCo by 100.0% in the first quarter. Retirement Group LLC now owns 322 shares of the company’s stock worth $54,000 after buying an additional 161 shares during the last quarter. Finally, Lansing Street Advisors purchased a new stake in shares of PepsiCo in the first quarter worth about $58,000. Hedge funds and other institutional investors own 71.38% of the company’s stock.

Insider Activity

In related news, CEO Ramkumar Krishnan sold 3,433 shares of the stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $174.83, for a total value of $600,191.39. Following the completion of the sale, the chief executive officer now owns 50,577 shares of the company’s stock, valued at $8,842,376.91. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Steven C. Williams sold 1,753 shares of the stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $171.18, for a total value of $300,078.54. Following the completion of the sale, the chief executive officer now owns 70,892 shares of the company’s stock, valued at $12,135,292.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Ramkumar Krishnan sold 3,433 shares of the stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $174.83, for a total value of $600,191.39. Following the completion of the sale, the chief executive officer now directly owns 50,577 shares of the company’s stock, valued at approximately $8,842,376.91. The disclosure for this sale can be found here. Company insiders own 0.12% of the company’s stock.

PepsiCo Stock Performance

NASDAQ PEP opened at $168.60 on Friday. The company has a market cap of $232.65 billion, a PE ratio of 25.39, a price-to-earnings-growth ratio of 3.30 and a beta of 0.55. The stock’s 50 day simple moving average is $173.32 and its 200-day simple moving average is $170.45. PepsiCo, Inc. has a 1-year low of $149.48 and a 1-year high of $181.07. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.83 and a quick ratio of 0.64.

PepsiCo (NASDAQ:PEPGet Rating) last released its earnings results on Tuesday, July 12th. The company reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.13. The business had revenue of $20.23 billion for the quarter, compared to the consensus estimate of $19.51 billion. PepsiCo had a return on equity of 52.01% and a net margin of 11.28%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.72 earnings per share. As a group, equities research analysts anticipate that PepsiCo, Inc. will post 6.66 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 2nd will be given a $1.15 dividend. The ex-dividend date is Thursday, September 1st. This represents a $4.60 annualized dividend and a dividend yield of 2.73%. PepsiCo’s dividend payout ratio (DPR) is presently 69.28%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on PEP shares. Barclays lowered their target price on PepsiCo from $187.00 to $183.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 6th. JPMorgan Chase & Co. lowered their price target on PepsiCo from $186.00 to $185.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 6th. Deutsche Bank Aktiengesellschaft increased their price target on PepsiCo from $175.00 to $178.00 and gave the stock a “hold” rating in a research report on Thursday, July 7th. UBS Group lowered their price target on PepsiCo from $190.00 to $182.00 and set a “buy” rating on the stock in a research report on Tuesday, June 21st. Finally, Wells Fargo & Company lowered their price target on PepsiCo from $175.00 to $172.00 and set an “equal weight” rating on the stock in a research report on Tuesday, June 21st. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, PepsiCo currently has a consensus rating of “Moderate Buy” and an average target price of $182.00.

PepsiCo Company Profile

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PepsiCo, Inc manufactures, markets, distributes, and sells 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.

See Also

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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