Boomfish Wealth Group LLC Acquires 258 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Boomfish Wealth Group LLC boosted its stake in PepsiCo, Inc. (NASDAQ:PEP) by 3.3% during the second quarter, Holdings Channel.com reports. The firm owned 7,974 shares of the company’s stock after buying an additional 258 shares during the period. Boomfish Wealth Group LLC’s holdings in PepsiCo were worth $1,315,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Strategy Asset Managers LLC lifted its position in PepsiCo by 0.9% during the first quarter. Strategy Asset Managers LLC now owns 6,632 shares of the company’s stock valued at $1,161,000 after buying an additional 57 shares during the period. SYM FINANCIAL Corp boosted its stake in shares of PepsiCo by 2.7% during the 4th quarter. SYM FINANCIAL Corp now owns 2,290 shares of the company’s stock worth $389,000 after acquiring an additional 61 shares during the last quarter. Clearwater Capital Advisors LLC raised its stake in shares of PepsiCo by 2.3% in the fourth quarter. Clearwater Capital Advisors LLC now owns 2,758 shares of the company’s stock worth $468,000 after buying an additional 61 shares during the period. Arbor Investment Advisors LLC boosted its position in shares of PepsiCo by 3.6% in the first quarter. Arbor Investment Advisors LLC now owns 1,779 shares of the company’s stock worth $311,000 after purchasing an additional 61 shares during the period. Finally, Security Financial Services INC. lifted its position in shares of PepsiCo by 1.6% in the first quarter. Security Financial Services INC. now owns 3,943 shares of the company’s stock valued at $690,000 after acquiring an additional 61 shares in the last quarter. 73.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on PEP shares. BNP Paribas started coverage on shares of PepsiCo in a research note on Monday, June 24th. They issued a “neutral” rating and a $174.00 price target on the stock. Bank of America lowered their target price on PepsiCo from $210.00 to $190.00 and set a “buy” rating for the company in a research report on Monday, July 8th. Royal Bank of Canada decreased their price target on shares of PepsiCo from $180.00 to $177.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Morgan Stanley cut their target price on PepsiCo from $190.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Finally, Wells Fargo & Company lowered their target price on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Seven 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 company presently has an average rating of “Moderate Buy” and a consensus target price of $185.53.

PepsiCo Stock Up 0.1 %

Shares of NASDAQ:PEP traded up $0.10 during trading on Friday, reaching $172.62. The stock had a trading volume of 4,614,804 shares, compared to its average volume of 5,492,265. 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 capitalization of $237.32 billion, a P/E ratio of 25.05, a PEG ratio of 2.98 and a beta of 0.52. The firm’s 50-day simple moving average is $168.09 and its 200 day simple moving average is $170.52. PepsiCo, Inc. has a one year low of $155.83 and a one year high of $183.41.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Thursday, July 11th. The company reported $2.28 EPS for the quarter, beating the consensus estimate of $2.16 by $0.12. The firm 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%. The business’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.09 EPS. As a group, research analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be paid a $1.355 dividend. The ex-dividend date is Friday, September 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.14%. PepsiCo’s payout ratio is 78.66%.

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.