Cornerstone Advisors Inc. Has $3.96 Million Position in Pepsico, Inc. (NYSE:PEP)
Cornerstone Advisors Inc. reduced its position in shares of Pepsico, Inc. (NYSE:PEP) by 0.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 35,407 shares of the company’s stock after selling 7 shares during the period. Pepsico comprises about 2.2% of Cornerstone Advisors Inc.’s holdings, making the stock its 6th largest position. Cornerstone Advisors Inc.’s holdings in Pepsico were worth $3,961,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Asset Planning Services Ltd. boosted its position in Pepsico by 66.1% in the first quarter. Asset Planning Services Ltd. now owns 1,003 shares of the company’s stock worth $112,000 after buying an additional 399 shares during the last quarter. Patriot Financial Group Insurance Agency LLC purchased a new position in Pepsico during the fourth quarter worth $125,000. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its position in Pepsico by 11,898.4% in the fourth quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 146,861 shares of the company’s stock worth $147,000 after buying an additional 145,637 shares during the last quarter. Israel Discount Bank of New York GFN purchased a new position in Pepsico during the fourth quarter worth $150,000. Finally, Leith Wheeler Investment Counsel Ltd. purchased a new position in Pepsico during the first quarter worth $157,000. 70.45% of the stock is owned by institutional investors.
Pepsico, Inc. (PEP) opened at 116.13 on Tuesday. Pepsico, Inc. has a 52-week low of $98.50 and a 52-week high of $118.24. The firm has a market capitalization of $165.54 billion, a price-to-earnings ratio of 24.59 and a beta of 0.68. The company’s 50-day moving average is $116.03 and its 200-day moving average is $111.61.
Pepsico (NYSE:PEP) last issued its quarterly earnings results on Tuesday, July 11th. The company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.10. The business had revenue of $15.71 billion during the quarter, compared to the consensus estimate of $15.57 billion. Pepsico had a net margin of 10.77% and a return on equity of 59.74%. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.35 earnings per share. Equities analysts predict that Pepsico, Inc. will post $5.16 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 1st will be issued a dividend of $0.805 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $3.22 dividend on an annualized basis and a dividend yield of 2.77%. Pepsico’s dividend payout ratio (DPR) is presently 68.22%.
A number of research firms have weighed in on PEP. Vetr raised shares of Pepsico from a “hold” rating to a “buy” rating and set a $125.54 price objective for the company in a report on Wednesday, April 26th. Zacks Investment Research raised shares of Pepsico from a “hold” rating to a “buy” rating and set a $129.00 target price for the company in a research note on Friday, July 14th. Susquehanna Bancshares Inc reissued a “positive” rating and set a $133.00 target price (down previously from $134.00) on shares of Pepsico in a research note on Thursday, July 6th. Jefferies Group LLC boosted their target price on shares of Pepsico from $120.00 to $127.00 and gave the stock a “buy” rating in a research note on Wednesday, April 19th. Finally, BMO Capital Markets cut shares of Pepsico from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from $118.00 to $120.00 in a research note on Wednesday, June 7th. They noted that the move was a valuation call. Five equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $123.04.
Pepsico Company Profile
PepsiCo, Inc is a global food and beverage company. The Company’s portfolio of brands includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. The Company operates through six segments: Frito-Lay North America (FLNA), Quaker Foods North America (QFNA), North America Beverages (NAB), Latin America, Europe Sub-Saharan Africa (ESSA), and Asia, Middle East and North Africa (AMENA).
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