D.B. Root & Company LLC Buys 702 Shares of PepsiCo, Inc. (NASDAQ:PEP)

D.B. Root & Company LLC grew its stake in PepsiCo, Inc. (NASDAQ:PEP) by 17.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,814 shares of the company’s stock after acquiring an additional 702 shares during the quarter. D.B. Root & Company LLC’s holdings in PepsiCo were worth $794,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of PEP. Norges Bank bought a new position in PepsiCo during the fourth quarter worth about $2,686,139,000. Flossbach Von Storch AG grew its position in shares of PepsiCo by 67.2% in the 1st quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock valued at $798,047,000 after purchasing an additional 1,832,385 shares during the period. California Public Employees Retirement System increased its stake in PepsiCo by 17.9% during the 4th quarter. California Public Employees Retirement System now owns 9,664,323 shares of the company’s stock worth $1,641,389,000 after purchasing an additional 1,470,064 shares in the last quarter. Franklin Resources Inc. increased its stake in PepsiCo by 17.7% during the 4th quarter. Franklin Resources Inc. now owns 8,954,951 shares of the company’s stock worth $1,520,909,000 after purchasing an additional 1,345,065 shares in the last quarter. Finally, Mackenzie Financial Corp raised its holdings in PepsiCo by 68.0% during the 4th quarter. Mackenzie Financial Corp now owns 2,922,643 shares of the company’s stock worth $496,382,000 after buying an additional 1,183,371 shares during the period. Institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. DZ Bank lowered PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target on the stock. in a report on Friday, July 19th. Wedbush reaffirmed an “outperform” rating and set a $195.00 price target on shares of PepsiCo in a research report on Tuesday, April 23rd. JPMorgan Chase & Co. lowered 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. BNP Paribas started coverage on shares of PepsiCo in a report on Monday, June 24th. They set a “neutral” rating and a $174.00 target price for the company. Finally, StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Monday. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $185.53.

PepsiCo Stock Performance

PEP stock traded down $0.97 during trading hours on Monday, hitting $171.42. 3,802,343 shares of the stock were exchanged, compared to its average volume of 5,527,545. PepsiCo, Inc. has a 12 month low of $155.83 and a 12 month high of $184.86. 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 firm has a market capitalization of $235.67 billion, a P/E ratio of 24.88, a P/E/G ratio of 2.98 and a beta of 0.52. The company has a 50-day simple moving average of $168.09 and a two-hundred day simple moving average of $170.42.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Thursday, July 11th. The company reported $2.28 earnings per share 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 the consensus estimate of $22.59 billion. During the same period in the previous year, the business earned $2.09 earnings per share. The firm’s quarterly revenue was up .8% on a year-over-year basis. On average, analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be issued a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date is Friday, September 6th. 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.