Mill Creek Capital Advisors LLC Buys 658 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Mill Creek Capital Advisors LLC increased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 7.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,252 shares of the company’s stock after purchasing an additional 658 shares during the quarter. Mill Creek Capital Advisors LLC’s holdings in PepsiCo were worth $1,526,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PEP. Gilbert & Cook Inc. boosted its stake in PepsiCo by 23.4% in the 4th quarter. Gilbert & Cook Inc. now owns 5,971 shares of the company’s stock worth $1,014,000 after purchasing an additional 1,133 shares in the last quarter. Aveo Capital Partners LLC increased its holdings in shares of PepsiCo by 4.4% in the fourth quarter. Aveo Capital Partners LLC now owns 5,480 shares of the company’s stock valued at $931,000 after purchasing an additional 229 shares during the period. 9258 Wealth Management LLC boosted its position in PepsiCo by 56.0% in the fourth quarter. 9258 Wealth Management LLC now owns 8,281 shares of the company’s stock valued at $1,407,000 after buying an additional 2,974 shares during the last quarter. Gryphon Financial Partners LLC lifted its stake in PepsiCo by 81.3% during the 4th quarter. Gryphon Financial Partners LLC now owns 8,105 shares of the company’s stock valued at $1,357,000 after acquiring an additional 3,635 shares during the period. Finally, TrinityPoint Wealth LLC increased its stake in shares of PepsiCo by 2.5% in the fourth quarter. TrinityPoint Wealth LLC now owns 13,353 shares of the company’s stock worth $2,268,000 after acquiring an additional 332 shares during the period. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

PEP has been the topic of several analyst reports. TD Cowen cut their price target on PepsiCo from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Bank of America reduced their price target on PepsiCo from $210.00 to $190.00 and set a “buy” rating for the company in a research report on Monday, July 8th. Royal Bank of Canada lowered their price objective on PepsiCo from $180.00 to $177.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. Morgan Stanley cut shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price for the company. in a research note on Friday. Finally, Wells Fargo & Company decreased their price objective on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $185.53.

PepsiCo Stock Performance

Shares of NASDAQ:PEP opened at $172.11 on Tuesday. The business’s 50 day moving average price is $173.68 and its 200-day moving average price is $171.93. PepsiCo, Inc. has a 1 year low of $155.83 and a 1 year high of $183.41. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.83 and a quick ratio of 0.64. The firm has a market capitalization of $236.61 billion, a PE ratio of 24.98, a P/E/G ratio of 3.06 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last released its earnings results on Thursday, July 11th. The company reported $2.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.12. The business had revenue of $22.50 billion during the quarter, compared to analyst estimates of $22.59 billion. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.09 earnings per share. As a group, equities 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 declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be given a $1.355 dividend. The ex-dividend date is Friday, September 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.15%. PepsiCo’s dividend payout ratio (DPR) is presently 78.66%.

About PepsiCo

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.