Custom Index Systems LLC Boosts Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Custom Index Systems LLC lifted its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 43.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,072 shares of the company’s stock after buying an additional 1,229 shares during the quarter. Custom Index Systems LLC’s holdings in PepsiCo were worth $672,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Gilbert & Cook Inc. grew its holdings in PepsiCo by 23.4% in the fourth quarter. Gilbert & Cook Inc. now owns 5,971 shares of the company’s stock valued at $1,014,000 after purchasing an additional 1,133 shares during the period. Aveo Capital Partners LLC grew its holdings in PepsiCo by 4.4% in the fourth quarter. Aveo Capital Partners LLC now owns 5,480 shares of the company’s stock valued at $931,000 after purchasing an additional 229 shares during the period. 9258 Wealth Management LLC grew its holdings in PepsiCo by 56.0% in the fourth quarter. 9258 Wealth Management LLC now owns 8,281 shares of the company’s stock valued at $1,407,000 after purchasing an additional 2,974 shares during the period. Gryphon Financial Partners LLC grew its holdings in PepsiCo by 81.3% in the fourth quarter. Gryphon Financial Partners LLC now owns 8,105 shares of the company’s stock valued at $1,357,000 after purchasing an additional 3,635 shares during the period. Finally, Calton & Associates Inc. acquired a new position in PepsiCo during the fourth quarter valued at approximately $265,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on PEP. TD Cowen reduced their target price on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Wednesday, August 28th. Bank of America dropped their price target on shares of PepsiCo from $210.00 to $190.00 and set a “buy” rating for the company in a research note on Monday, July 8th. Wells Fargo & Company dropped their price target 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. Finally, DZ Bank lowered shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target for the company. in a research note on Friday, July 19th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, PepsiCo currently has an average rating of “Moderate Buy” and an average price target of $185.53.

PepsiCo Stock Performance

PEP stock opened at $177.34 on Friday. PepsiCo, Inc. has a fifty-two week low of $155.83 and a fifty-two week high of $183.41. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.87. The company has a market capitalization of $243.59 billion, a P/E ratio of 25.74, a PEG ratio of 2.98 and a beta of 0.53. The company has a 50-day simple moving average of $170.96 and a 200 day simple moving average of $171.15.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Thursday, July 11th. The company reported $2.28 EPS 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 analyst estimates of $22.59 billion. During the same period in the prior year, the firm earned $2.09 earnings per share. The business’s quarterly revenue was up .8% on a year-over-year basis. Sell-side analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be issued 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 3.06%. PepsiCo’s dividend 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.