Waters Parkerson & CO. LLC Buys 719 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Waters Parkerson & CO. LLC grew its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 204,882 shares of the company’s stock after purchasing an additional 719 shares during the period. PepsiCo makes up 1.8% of Waters Parkerson & CO. LLC’s investment portfolio, making the stock its 19th largest holding. Waters Parkerson & CO. LLC’s holdings in PepsiCo were worth $33,791,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of PEP. Gilbert & Cook Inc. lifted its position in PepsiCo by 23.4% during the fourth quarter. Gilbert & Cook Inc. now owns 5,971 shares of the company’s stock valued at $1,014,000 after buying an additional 1,133 shares during the period. Aveo Capital Partners LLC lifted its position in PepsiCo by 4.4% during the 4th quarter. Aveo Capital Partners LLC now owns 5,480 shares of the company’s stock valued at $931,000 after acquiring an additional 229 shares during the period. 9258 Wealth Management LLC boosted its stake in PepsiCo by 56.0% during the fourth quarter. 9258 Wealth Management LLC now owns 8,281 shares of the company’s stock worth $1,407,000 after acquiring an additional 2,974 shares in the last quarter. 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 worth $1,357,000 after purchasing an additional 3,635 shares during the period. Finally, TrinityPoint Wealth LLC increased its stake in shares of PepsiCo by 2.5% during the fourth quarter. TrinityPoint Wealth LLC now owns 13,353 shares of the company’s stock valued at $2,268,000 after purchasing an additional 332 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

Shares of PEP opened at $174.66 on Friday. The firm has a fifty day simple moving average of $173.42 and a two-hundred day simple moving average of $171.70. The firm has a market cap of $240.12 billion, a PE ratio of 25.35, a P/E/G ratio of 3.06 and a beta of 0.53. The company has a current ratio of 0.83, a quick ratio of 0.64 and a debt-to-equity ratio of 1.87. PepsiCo, Inc. has a 1-year low of $155.83 and a 1-year high of $183.41.

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. The company had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $22.59 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. PepsiCo’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.09 earnings per share. On average, equities analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be given a dividend of $1.355 per share. The ex-dividend date is Friday, September 6th. This represents a $5.42 annualized dividend and a yield of 3.10%. PepsiCo’s dividend payout ratio (DPR) is 78.66%.

Analyst Ratings Changes

PEP has been the topic of several recent research reports. Royal Bank of Canada cut their price target on PepsiCo from $180.00 to $177.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. BNP Paribas began coverage on PepsiCo in a research note on Monday, June 24th. They issued a “neutral” rating and a $174.00 target price on the stock. TD Cowen lowered their price target on PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. 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. Finally, Barclays upped their target price on shares of PepsiCo from $179.00 to $187.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $185.53.

PepsiCo 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.