Orrstown Financial Services Inc. raised its position in shares of Pepsico, Inc. (NYSE:PEP) by 5.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,792 shares of the company’s stock after buying an additional 876 shares during the period. Pepsico comprises approximately 1.8% of Orrstown Financial Services Inc.’s investment portfolio, making the stock its 10th largest position. Orrstown Financial Services Inc.’s holdings in Pepsico were worth $1,767,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of PEP. Itau Unibanco Holding S.A. acquired a new position in Pepsico during the third quarter worth approximately $101,000. Edmond DE Rothschild Monaco purchased a new stake in shares of Pepsico during the third quarter valued at $131,000. Patriot Financial Group Insurance Agency LLC purchased a new stake in shares of Pepsico during the fourth quarter valued at $125,000. Leith Wheeler Investment Counsel Ltd. purchased a new stake in shares of Pepsico during the first quarter valued at $157,000. Finally, Israel Discount Bank of New York GFN purchased a new stake in shares of Pepsico during the fourth quarter valued at $150,000. Institutional investors own 71.26% of the company’s stock.
Shares of Pepsico, Inc. (PEP) traded up 0.37% during mid-day trading on Monday, hitting $117.29. 2,436,611 shares of the company’s stock traded hands. Pepsico, Inc. has a 1-year low of $98.50 and a 1-year high of $118.12. The stock has a market cap of $167.55 billion, a P/E ratio of 25.27 and a beta of 0.68. The stock has a 50 day moving average price of $115.12 and a 200-day moving average price of $109.40.
Pepsico (NYSE:PEP) last announced its earnings results on Wednesday, April 26th. The company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.91 by $0.03. Pepsico had a net margin of 10.66% and a return on equity of 58.42%. The company had revenue of $12.05 billion during the quarter, compared to analysts’ expectations of $11.98 billion. During the same period last year, the company posted $0.89 earnings per share. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. Equities research analysts anticipate that Pepsico, Inc. will post $5.15 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 2nd will be issued a $0.805 dividend. This represents a $3.22 annualized dividend and a dividend yield of 2.75%. This is a boost from Pepsico’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Wednesday, May 31st. Pepsico’s dividend payout ratio (DPR) is presently 69.40%.
Several analysts have recently weighed in on the stock. Jefferies Group LLC lifted their target price on shares of Pepsico from $120.00 to $127.00 and gave the company a “buy” rating in a report on Wednesday, April 19th. BMO Capital Markets downgraded shares of Pepsico from an “outperform” rating to a “market perform” rating and lifted their target price for the company from $118.00 to $120.00 in a report on Wednesday, June 7th. They noted that the move was a valuation call. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $115.00 target price on shares of Pepsico in a report on Thursday, May 25th. Stifel Nicolaus reaffirmed a “hold” rating on shares of Pepsico in a report on Wednesday, May 31st. Finally, Barclays PLC reaffirmed a “hold” rating and issued a $113.00 target price on shares of Pepsico in a report on Friday, April 28th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Pepsico has a consensus rating of “Buy” and an average price target of $120.66.
PepsiCo, Inc is a global food and beverage company. The Company’s portfolio of brands includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. The Company operates through six segments: Frito-Lay North America (FLNA), Quaker Foods North America (QFNA), North America Beverages (NAB), Latin America, Europe Sub-Saharan Africa (ESSA), and Asia, Middle East and North Africa (AMENA).
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