Frank Rimerman Advisors LLC Purchases 11,999 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Frank Rimerman Advisors LLC lifted its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 15,788.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,075 shares of the company’s stock after purchasing an additional 11,999 shares during the period. Frank Rimerman Advisors LLC’s holdings in PepsiCo were worth $1,992,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Valued Wealth Advisors LLC boosted its stake in shares of PepsiCo by 77.5% during the 1st quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after acquiring an additional 69 shares during the period. POM Investment Strategies LLC lifted its holdings in PepsiCo by 141.3% during the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after purchasing an additional 106 shares during the last quarter. Summit Securities Group LLC bought a new position in PepsiCo during the second quarter worth $30,000. Fortis Group Advisors LLC increased its holdings in shares of PepsiCo by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock valued at $33,000 after purchasing an additional 97 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in shares of PepsiCo during the 1st quarter worth about $35,000. 73.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PEP. BNP Paribas began coverage on shares of PepsiCo in a research note on Monday, June 24th. They issued a “neutral” rating and a $174.00 price target on the stock. Jefferies Financial Group lowered their target price on PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. DZ Bank downgraded 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. Barclays increased their price objective on PepsiCo from $179.00 to $187.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Finally, Royal Bank of Canada reduced their target price on shares of PepsiCo from $180.00 to $177.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, PepsiCo has a consensus rating of “Hold” and an average target price of $185.53.

PepsiCo Stock Performance

NASDAQ PEP opened at $171.18 on Friday. The firm’s 50 day simple moving average is $173.51 and its 200 day simple moving average is $171.81. The firm has a market capitalization of $235.13 billion, a price-to-earnings ratio of 24.84, 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 issued its quarterly earnings results on Thursday, July 11th. The company reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.12. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The company had revenue of $22.50 billion for the quarter, compared to analyst estimates of $22.59 billion. During the same quarter last year, the company posted $2.09 EPS. The company’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, research analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The business 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 of this dividend is Friday, September 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.17%. PepsiCo’s dividend payout ratio (DPR) is currently 78.66%.

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.