Blume Capital Management Inc. Boosts Position in PepsiCo, Inc. (NASDAQ:PEP)

Blume Capital Management Inc. lifted its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 36.1% during the 2nd quarter, Holdings reports. The firm owned 1,906 shares of the company’s stock after buying an additional 506 shares during the period. Blume Capital Management Inc.’s holdings in PepsiCo were worth $282,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. OLD Mission Capital LLC purchased a new position in PepsiCo during the third quarter valued at $256,000. Atlas Private Wealth Management raised its position in shares of PepsiCo by 21.1% during the 1st quarter. Atlas Private Wealth Management now owns 3,437 shares of the company’s stock valued at $486,000 after purchasing an additional 600 shares during the period. Ironwood Wealth Management LLC. lifted its stake in shares of PepsiCo by 38.4% during the 1st quarter. Ironwood Wealth Management LLC. now owns 1,892 shares of the company’s stock valued at $268,000 after buying an additional 525 shares in the last quarter. Total Clarity Wealth Management Inc. bought a new position in PepsiCo in the 1st quarter worth $82,000. Finally, GSB Wealth Management LLC purchased a new stake in PepsiCo in the 1st quarter worth $3,166,000. 70.55% of the stock is currently owned by institutional investors.

In other news, SVP Marie T. Gallagher sold 7,409 shares of the business’s stock in a transaction on Monday, July 19th. The shares were sold at an average price of $155.70, for a total transaction of $1,153,581.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.14% of the stock is owned by insiders.

NASDAQ:PEP traded up $0.35 during midday trading on Wednesday, hitting $155.50. 35,524 shares of the company traded hands, compared to its average volume of 4,954,938. The company has a current ratio of 0.91, a quick ratio of 0.70 and a debt-to-equity ratio of 2.47. The firm’s fifty day moving average is $155.51 and its 200-day moving average is $147.54. The firm has a market capitalization of $214.92 billion, a P/E ratio of 26.21, a P/E/G ratio of 2.96 and a beta of 0.60. PepsiCo, Inc. has a 12-month low of $128.32 and a 12-month high of $159.63.

PepsiCo (NASDAQ:PEP) last released its earnings results on Monday, July 12th. The company reported $1.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.53 by $0.19. The firm had revenue of $19.22 billion during the quarter, compared to analyst estimates of $17.95 billion. PepsiCo had a net margin of 11.01% and a return on equity of 59.56%. The business’s revenue was up 20.5% on a year-over-year basis. During the same quarter last year, the business earned $1.32 EPS. On average, research analysts expect that PepsiCo, Inc. will post 6.24 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 30th. Stockholders of record on Friday, September 3rd will be issued a $1.075 dividend. The ex-dividend date is Thursday, September 2nd. This represents a $4.30 annualized dividend and a dividend yield of 2.77%. PepsiCo’s payout ratio is 77.90%.

PEP has been the subject of several research analyst reports. Morgan Stanley lifted their target price on PepsiCo from $165.00 to $172.00 and gave the company an “overweight” rating in a research note on Wednesday, July 14th. Cowen reissued a “buy” rating and issued a $165.00 target price on shares of PepsiCo in a report on Friday, July 9th. Zacks Investment Research cut shares of PepsiCo from a “buy” rating to a “hold” rating and set a $164.00 target price for the company. in a research note on Monday, August 9th. Citigroup increased their price objective on shares of PepsiCo from $162.00 to $176.00 and gave the company a “buy” rating in a report on Wednesday, July 14th. Finally, Truist raised their price objective on PepsiCo from $135.00 to $160.00 and gave the company a “hold” rating in a research report on Wednesday, July 14th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $159.58.

PepsiCo Profile

PepsiCo, Inc engages in the manufacture, marketing, distribution and sale of beverages, food, and snacks. It is a food and beverage company with a complementary portfolio of brands, including Frito-Lay, Gatorade, Pepsi-Cola, Quaker, and Tropicana. It operates through the following business segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; and Africa, Middle East and South Asia The Frito-Lay North America segment markets, distributes, and sells snack foods under the Lay’s, Doritos, Cheetos, Tostitos, Fritos, Ruffles, and Santitas brands.

Further Reading: Liquidity

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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