Signet Financial Management LLC Boosts Stake in PepsiCo, Inc. (NASDAQ:PEP)
Signet Financial Management LLC raised its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 7.0% in the second quarter, Holdings Channel.com reports. The fund owned 3,239 shares of the company’s stock after buying an additional 211 shares during the quarter. Signet Financial Management LLC’s holdings in PepsiCo were worth $425,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Stuart Chaussee & Associates Inc. lifted its stake in shares of PepsiCo by 18.8% during the second quarter. Stuart Chaussee & Associates Inc. now owns 505 shares of the company’s stock worth $66,000 after purchasing an additional 80 shares in the last quarter. Sigma Investment Counselors Inc. lifted its stake in shares of PepsiCo by 2.5% during the second quarter. Sigma Investment Counselors Inc. now owns 3,415 shares of the company’s stock worth $448,000 after purchasing an additional 82 shares in the last quarter. Alera Investment Advisors LLC lifted its stake in shares of PepsiCo by 3.5% during the second quarter. Alera Investment Advisors LLC now owns 2,471 shares of the company’s stock worth $324,000 after purchasing an additional 84 shares in the last quarter. Strategic Financial Group LLC lifted its stake in shares of PepsiCo by 2.7% during the second quarter. Strategic Financial Group LLC now owns 3,242 shares of the company’s stock worth $425,000 after purchasing an additional 86 shares in the last quarter. Finally, First Command Financial Services Inc. lifted its stake in shares of PepsiCo by 1.0% during the second quarter. First Command Financial Services Inc. now owns 9,440 shares of the company’s stock worth $1,238,000 after purchasing an additional 95 shares in the last quarter. 71.51% of the stock is owned by hedge funds and other institutional investors.
Several research analysts recently commented on PEP shares. Morgan Stanley boosted their price target on PepsiCo from $143.00 to $149.00 and gave the stock an “overweight” rating in a research note on Wednesday. They noted that the move was a valuation call. SunTrust Banks reiterated a “hold” rating and issued a $125.00 price target on shares of PepsiCo in a research note on Wednesday, July 10th. Credit Suisse Group boosted their price target on PepsiCo from $110.00 to $117.00 and gave the stock an “underperform” rating in a research note on Friday, September 6th. Jefferies Financial Group boosted their price target on PepsiCo from $123.00 to $134.00 and gave the stock a “hold” rating in a research note on Wednesday, July 10th. Finally, BMO Capital Markets reiterated an “average” rating and issued a $128.00 price target on shares of PepsiCo in a research note on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $130.50.
NASDAQ PEP traded up $0.93 on Thursday, hitting $137.29. 3,198,530 shares of the stock traded hands, compared to its average volume of 4,689,791. The stock has a 50-day moving average of $132.01 and a 200 day moving average of $127.77. PepsiCo, Inc. has a twelve month low of $104.53 and a twelve month high of $139.18. The company has a market capitalization of $190.71 billion, a P/E ratio of 24.26, a price-to-earnings-growth ratio of 3.54 and a beta of 0.56. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 1.97.
PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, July 9th. The company reported $1.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.49 by $0.05. PepsiCo had a return on equity of 59.50% and a net margin of 19.59%. The firm had revenue of $16.45 billion for the quarter, compared to analysts’ expectations of $16.44 billion. During the same quarter in the prior year, the firm posted $1.61 earnings per share. PepsiCo’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, equities research analysts expect that PepsiCo, Inc. will post 5.51 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be paid a dividend of $0.955 per share. This represents a $3.82 annualized dividend and a yield of 2.78%. The ex-dividend date is Thursday, September 5th. PepsiCo’s payout ratio is currently 67.49%.
PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.
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