Resources Management Corp CT ADV Purchases 521 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Resources Management Corp CT ADV raised its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 73,611 shares of the company’s stock after purchasing an additional 521 shares during the quarter. PepsiCo makes up approximately 1.8% of Resources Management Corp CT ADV’s portfolio, making the stock its 13th largest holding. Resources Management Corp CT ADV’s holdings in PepsiCo were worth $12,141,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Xponance Inc. lifted its holdings in PepsiCo by 3.9% during the 2nd quarter. Xponance Inc. now owns 293,701 shares of the company’s stock worth $48,440,000 after purchasing an additional 11,046 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of PepsiCo by 14.6% in the second quarter. Bank of Montreal Can now owns 3,876,354 shares of the company’s stock worth $676,036,000 after buying an additional 492,888 shares in the last quarter. Evergreen Capital Management LLC boosted its position in shares of PepsiCo by 1.3% in the second quarter. Evergreen Capital Management LLC now owns 48,275 shares of the company’s stock valued at $7,962,000 after acquiring an additional 601 shares during the period. Magnetar Financial LLC purchased a new position in PepsiCo during the second quarter valued at approximately $4,593,000. Finally, Public Sector Pension Investment Board lifted its stake in PepsiCo by 73.2% in the 2nd quarter. Public Sector Pension Investment Board now owns 52,836 shares of the company’s stock worth $8,714,000 after purchasing an additional 22,339 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on PEP shares. BNP Paribas began coverage on shares of PepsiCo in a report on Monday, June 24th. They issued a “neutral” rating and a $174.00 price target on the stock. Jefferies Financial Group lowered their price target on PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. JPMorgan Chase & Co. decreased their price objective on shares of PepsiCo from $184.00 to $182.00 and set a “neutral” rating on the stock in a research report on Friday, July 12th. Barclays lifted their target price on shares of PepsiCo from $179.00 to $187.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Finally, DZ Bank lowered shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target on the stock. in a report on Friday, July 19th. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $185.53.

PepsiCo Price Performance

Shares of PepsiCo stock opened at $172.11 on Tuesday. The stock has a market capitalization of $236.61 billion, a P/E ratio of 24.98, a price-to-earnings-growth ratio of 3.06 and a beta of 0.53. PepsiCo, Inc. has a one year low of $155.83 and a one 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 business’s 50 day simple moving average is $173.68 and its two-hundred day simple moving average is $171.93.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Thursday, July 11th. The company reported $2.28 EPS for the quarter, beating the consensus estimate of $2.16 by $0.12. The firm had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $22.59 billion. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The company’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.09 earnings per share. Analysts forecast 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 issued a dividend of $1.355 per share. 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 3.15%. PepsiCo’s dividend payout ratio is presently 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.