Prestige Wealth Management Group LLC Acquires 151 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Prestige Wealth Management Group LLC boosted its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.9% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 3,997 shares of the company’s stock after buying an additional 151 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in PepsiCo were worth $659,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of PepsiCo in the 4th quarter worth $2,686,139,000. Franklin Resources Inc. increased its position in PepsiCo by 17.7% in the fourth quarter. Franklin Resources Inc. now owns 8,954,951 shares of the company’s stock worth $1,520,909,000 after buying an additional 1,345,065 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of PepsiCo by 15.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,421,163 shares of the company’s stock worth $1,430,250,000 after buying an additional 1,105,127 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of PepsiCo by 6.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,644,059 shares of the company’s stock valued at $1,128,413,000 after acquiring an additional 375,963 shares during the period. Finally, Stifel Financial Corp increased its holdings in PepsiCo by 15.7% in the 4th quarter. Stifel Financial Corp now owns 5,121,600 shares of the company’s stock worth $869,869,000 after acquiring an additional 693,873 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. DZ Bank lowered shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target for the company. in a research report on Friday, July 19th. Jefferies Financial Group dropped their target price on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Morgan Stanley lowered their price objective on PepsiCo from $190.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Wells Fargo & Company cut their target price on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Finally, StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research note on Wednesday, August 28th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $185.53.

PepsiCo Price Performance

PepsiCo stock traded down $0.60 during mid-day trading on Friday, reaching $177.34. 6,395,276 shares of the company’s stock traded hands, compared to its average volume of 5,471,998. PepsiCo, Inc. has a 12-month low of $155.83 and a 12-month high of $183.41. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.87. The stock has a 50 day moving average of $170.96 and a two-hundred day moving average of $171.15. The company has a market cap of $243.80 billion, a price-to-earnings ratio of 25.74, a PEG ratio of 2.98 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Thursday, July 11th. The company reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.12. The firm had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $22.59 billion. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The business’s revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.09 EPS. Equities analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be given a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.06%. The ex-dividend date is Friday, September 6th. PepsiCo’s dividend payout ratio is currently 78.66%.

About PepsiCo

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.