Legacy Financial Advisors Inc. Raises Position in PepsiCo, Inc. $PEP

by · The Cerbat Gem

Legacy Financial Advisors Inc. raised its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 3.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,247 shares of the company’s stock after acquiring an additional 262 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in PepsiCo were worth $1,236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Nuveen LLC purchased a new position in shares of PepsiCo during the 1st quarter valued at $946,978,000. GAMMA Investing LLC lifted its stake in shares of PepsiCo by 19,106.5% during the 1st quarter. GAMMA Investing LLC now owns 4,588,614 shares of the company’s stock valued at $688,017,000 after buying an additional 4,564,723 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of PepsiCo by 106.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 3,514,965 shares of the company’s stock valued at $527,034,000 after buying an additional 1,809,391 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of PepsiCo by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 135,174,252 shares of the company’s stock valued at $20,268,027,000 after buying an additional 1,802,748 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of PepsiCo during the 4th quarter valued at $221,297,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Barclays lifted their target price on shares of PepsiCo from $132.00 to $144.00 and gave the company an “equal weight” rating in a research note on Monday, July 21st. Citigroup lifted their target price on shares of PepsiCo from $160.00 to $168.00 and gave the company a “buy” rating in a research note on Friday, July 18th. JPMorgan Chase & Co. reduced their price target on shares of PepsiCo from $150.00 to $139.00 and set a “neutral” rating on the stock in a report on Thursday, July 10th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of PepsiCo in a report on Thursday, July 17th. Finally, Wells Fargo & Company lifted their price target on shares of PepsiCo from $140.00 to $154.00 and gave the company an “equal weight” rating in a report on Friday, July 18th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, PepsiCo presently has a consensus rating of “Hold” and an average target price of $158.73.

Read Our Latest Analysis on PEP

PepsiCo Stock Performance

PepsiCo stock opened at $149.55 on Tuesday. The company’s 50-day moving average price is $137.79 and its 200-day moving average price is $140.48. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $179.73. The company has a quick ratio of 0.60, a current ratio of 0.78 and a debt-to-equity ratio of 2.12. The company has a market cap of $204.75 billion, a PE ratio of 27.24, a price-to-earnings-growth ratio of 4.01 and a beta of 0.45.

PepsiCo (NASDAQ:PEP – Get Free Report) last posted its earnings results on Thursday, July 17th. The company reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.09. The firm had revenue of $22.73 billion for the quarter, compared to the consensus estimate of $22.28 billion. PepsiCo had a net margin of 8.23% and a return on equity of 57.81%. The business’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.28 EPS. On average, equities research analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be issued a dividend of $1.4225 per share. This represents a $5.69 annualized dividend and a yield of 3.8%. The ex-dividend date is Friday, September 5th. PepsiCo’s dividend payout ratio is presently 103.64%.

PepsiCo Profile

(Free Report)

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.

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