Fragasso Group Inc. lifted its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 3.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,063 shares of the company’s stock after purchasing an additional 461 shares during the period. Fragasso Group Inc.’s holdings in PepsiCo were worth $1,531,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in PEP. Heritage Way Advisors LLC increased its stake in PepsiCo by 2.6% during the 2nd quarter. Heritage Way Advisors LLC now owns 17,575 shares of the company’s stock worth $1,913,000 after buying an additional 450 shares in the last quarter. R.M.SINCERBEAUX Capital Management LLC increased its stake in PepsiCo by 22.5% during the 2nd quarter. R.M.SINCERBEAUX Capital Management LLC now owns 2,450 shares of the company’s stock worth $267,000 after buying an additional 450 shares in the last quarter. Investment House LLC increased its stake in PepsiCo by 0.8% during the 2nd quarter. Investment House LLC now owns 59,730 shares of the company’s stock worth $6,503,000 after buying an additional 471 shares in the last quarter. Thompson Investment Management Inc. increased its stake in PepsiCo by 1.4% during the 2nd quarter. Thompson Investment Management Inc. now owns 33,809 shares of the company’s stock worth $3,681,000 after buying an additional 480 shares in the last quarter. Finally, Trust Co. of Toledo NA OH increased its stake in PepsiCo by 1.1% during the 2nd quarter. Trust Co. of Toledo NA OH now owns 45,803 shares of the company’s stock worth $4,986,000 after buying an additional 484 shares in the last quarter. Hedge funds and other institutional investors own 70.39% of the company’s stock.
Several equities research analysts have commented on PEP shares. BidaskClub lowered PepsiCo from a “hold” rating to a “sell” rating in a research note on Friday, August 31st. Goldman Sachs Group reiterated a “sell” rating and set a $108.00 price objective on shares of PepsiCo in a research note on Monday, August 20th. SunTrust Banks boosted their price objective on PepsiCo to $110.00 and gave the stock a “hold” rating in a research note on Tuesday, July 24th. Guggenheim began coverage on PepsiCo in a research report on Thursday, September 13th. They issued a “neutral” rating and a $117.00 price target for the company. Finally, JPMorgan Chase & Co. set a $128.00 price target on PepsiCo and gave the company a “buy” rating in a research report on Wednesday, July 11th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $119.50.
PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, July 10th. The company reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.08. The business had revenue of $16.09 billion during the quarter, compared to analyst estimates of $16.05 billion. PepsiCo had a return on equity of 67.06% and a net margin of 7.14%. The business’s revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.50 earnings per share. equities research analysts predict that PepsiCo, Inc. will post 5.69 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 7th will be issued a $0.9275 dividend. This represents a $3.71 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend is Thursday, September 6th. PepsiCo’s dividend payout ratio is presently 70.94%.
PepsiCo, Inc operates as a food and beverage company worldwide. Its Frito-Lay North America segment offers Lay's and Ruffles potato chips; Doritos, Tostitos, and Santitas tortilla chips; and Cheetos snacks, branded dips, and Fritos corn chips. The company's Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the brands Quaker, Aunt Jemima, Cap'n crunch, life, Quaker Chewy, and Rice-A-Roni.
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