Elser Financial Planning Inc Invests $329,000 in PepsiCo, Inc. (NASDAQ:PEP)

Elser Financial Planning Inc bought a new stake in PepsiCo, Inc. (NASDAQ:PEP) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,996 shares of the company’s stock, valued at approximately $329,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of PEP. Fifth Third Wealth Advisors LLC raised its stake in shares of PepsiCo by 134.3% during the 2nd quarter. Fifth Third Wealth Advisors LLC now owns 22,653 shares of the company’s stock valued at $3,736,000 after buying an additional 12,983 shares during the last quarter. MFA Wealth Advisors LLC acquired a new stake in PepsiCo during the second quarter worth about $114,000. Prossimo Advisors LLC acquired a new position in PepsiCo in the second quarter valued at approximately $1,288,000. Iron Horse Wealth Management LLC boosted its position in PepsiCo by 309.8% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 545 shares of the company’s stock worth $90,000 after purchasing an additional 412 shares in the last quarter. Finally, Security National Bank grew its stake in shares of PepsiCo by 0.6% during the 2nd quarter. Security National Bank now owns 22,604 shares of the company’s stock worth $3,728,000 after purchasing an additional 133 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analysts Set New Price Targets

PEP has been the subject of several analyst reports. Wells Fargo & Company decreased their target price on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Morgan Stanley reduced their price target on PepsiCo from $190.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Jefferies Financial Group cut their price objective on PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. DZ Bank lowered PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price on the stock. in a research report on Friday, July 19th. Finally, JPMorgan Chase & Co. cut their price target on shares of PepsiCo from $184.00 to $182.00 and set a “neutral” rating for the company in a report on Friday, July 12th. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $185.53.

PepsiCo Price Performance

NASDAQ PEP traded down $0.64 during trading hours on Wednesday, hitting $175.21. 4,020,220 shares of the company’s stock traded hands, compared to its average volume of 5,469,769. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.83 and a quick ratio of 0.64. The firm’s 50-day moving average is $168.69 and its 200-day moving average is $170.62. PepsiCo, Inc. has a 52-week low of $155.83 and a 52-week high of $183.41. The company has a market capitalization of $240.88 billion, a PE ratio of 25.43, a PEG ratio of 3.00 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Thursday, July 11th. The company reported $2.28 EPS for the quarter, beating the consensus estimate of $2.16 by $0.12. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The firm had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $22.59 billion. During the same quarter last year, the firm earned $2.09 earnings per share. The business’s revenue for the quarter was up .8% on a year-over-year basis. Equities analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, September 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.09%. PepsiCo’s dividend payout ratio is presently 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.