PepsiCo, Inc. (NASDAQ:PEP) Stock Position Raised by Bank of Stockton

Bank of Stockton grew its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,716 shares of the company’s stock after purchasing an additional 60 shares during the period. Bank of Stockton’s holdings in PepsiCo were worth $448,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of PEP. Charles Schwab Investment Management Inc. raised its stake in PepsiCo by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,001,928 shares of the company’s stock valued at $3,227,287,000 after purchasing an additional 578,083 shares during the period. Norges Bank purchased a new stake in PepsiCo in the 4th quarter worth about $2,686,139,000. Franklin Resources Inc. boosted its position 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 acquiring an additional 1,345,065 shares during the period. Massachusetts Financial Services Co. MA grew its stake in PepsiCo by 15.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 8,421,163 shares of the company’s stock valued at $1,430,250,000 after acquiring an additional 1,105,127 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of PepsiCo by 6.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,644,059 shares of the company’s stock valued at $1,128,413,000 after purchasing an additional 375,963 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Price Performance

Shares of PEP stock traded up $0.13 during trading hours on Friday, hitting $175.87. The company had a trading volume of 5,283,617 shares, compared to its average volume of 5,466,141. PepsiCo, Inc. has a 12 month low of $155.83 and a 12 month high of $183.41. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.64 and a current ratio of 0.83. The firm’s fifty day moving average is $169.18 and its 200 day moving average is $170.68. The firm has a market capitalization of $241.57 billion, a price-to-earnings ratio of 25.53, a PEG ratio of 2.98 and a beta of 0.52.

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

PepsiCo Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 3.08%. PepsiCo’s dividend payout ratio is 78.66%.

Analyst Ratings Changes

PEP has been the subject of several recent research reports. Bank of America cut their price objective on PepsiCo from $210.00 to $190.00 and set a “buy” rating for the company in a report on Monday, July 8th. Jefferies Financial Group lowered their price target on PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. JPMorgan Chase & Co. reduced their target price on shares of PepsiCo from $184.00 to $182.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. StockNews.com lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Morgan Stanley reduced their price objective on shares of PepsiCo from $190.00 to $185.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, PepsiCo presently has a consensus rating of “Hold” and a consensus price target of $185.53.

About PepsiCo

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.