Greenwood Gearhart Inc. Acquires 612 Shares of Pepsico, Inc. (PEP)
Greenwood Gearhart Inc. increased its position in Pepsico, Inc. (NYSE:PEP) by 1.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 53,214 shares of the company’s stock after acquiring an additional 612 shares during the quarter. Pepsico comprises about 2.3% of Greenwood Gearhart Inc.’s holdings, making the stock its 16th biggest holding. Greenwood Gearhart Inc.’s holdings in Pepsico were worth $6,146,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Grove Bank & Trust boosted its position in shares of Pepsico by 41.6% in the second quarter. Grove Bank & Trust now owns 11,371 shares of the company’s stock valued at $1,313,000 after acquiring an additional 3,339 shares during the period. Wedbush Securities Inc. boosted its position in shares of Pepsico by 20.4% in the second quarter. Wedbush Securities Inc. now owns 17,247 shares of the company’s stock valued at $1,992,000 after acquiring an additional 2,922 shares during the period. Stratos Wealth Partners LTD. boosted its position in shares of Pepsico by 3.8% in the second quarter. Stratos Wealth Partners LTD. now owns 78,716 shares of the company’s stock valued at $9,091,000 after acquiring an additional 2,905 shares during the period. Pioneer Investment Management Inc. boosted its position in shares of Pepsico by 2.1% in the second quarter. Pioneer Investment Management Inc. now owns 4,506,679 shares of the company’s stock valued at $520,476,000 after acquiring an additional 91,851 shares during the period. Finally, Koshinski Asset Management Inc. boosted its position in shares of Pepsico by 4.0% in the second quarter. Koshinski Asset Management Inc. now owns 6,907 shares of the company’s stock valued at $798,000 after acquiring an additional 265 shares during the period. Institutional investors own 70.50% of the company’s stock.
A number of research firms have recently commented on PEP. BidaskClub upgraded shares of Pepsico from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th. Zacks Investment Research upgraded shares of Pepsico from a “hold” rating to a “buy” rating and set a $132.00 price objective for the company in a research report on Tuesday, August 22nd. Credit Suisse Group lowered shares of Pepsico from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $126.00 to $124.00 in a research report on Friday, September 8th. Royal Bank of Canada reiterated a “hold” rating and set a $115.00 target price on shares of Pepsico in a research report on Wednesday, September 6th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $120.00 target price on shares of Pepsico in a research report on Wednesday, September 6th. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $121.96.
Shares of Pepsico, Inc. (PEP) traded up $0.01 during trading on Wednesday, reaching $117.40. 2,664,600 shares of the company’s stock traded hands, compared to its average volume of 3,660,835. Pepsico, Inc. has a twelve month low of $101.06 and a twelve month high of $119.39. The company has a market capitalization of $166,945.36, a price-to-earnings ratio of 22.93, a PEG ratio of 3.19 and a beta of 0.68. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 2.32.
Pepsico (NYSE:PEP) last announced its earnings results on Wednesday, October 4th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.05. The business had revenue of $16.24 billion during the quarter, compared to analyst estimates of $16.35 billion. Pepsico had a net margin of 10.97% and a return on equity of 59.68%. Pepsico’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.40 earnings per share. analysts anticipate that Pepsico, Inc. will post 5.22 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 8th. Shareholders of record on Friday, December 1st will be paid a dividend of $0.805 per share. This represents a $3.22 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend is Thursday, November 30th. Pepsico’s dividend payout ratio (DPR) is presently 66.53%.
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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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