Bank of Stockton Purchases 60 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Bank of Stockton boosted its position in PepsiCo, Inc. (NASDAQ:PEP) by 2.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,716 shares of the company’s stock after buying an additional 60 shares during the period. Bank of Stockton’s holdings in PepsiCo were worth $448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its position in PepsiCo by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 19,001,928 shares of the company’s stock worth $3,227,287,000 after acquiring an additional 578,083 shares during the period. Norges Bank acquired a new position in shares of PepsiCo during the 4th quarter worth approximately $2,686,139,000. Franklin Resources Inc. increased its holdings in shares of PepsiCo by 17.7% during the fourth quarter. Franklin Resources Inc. now owns 8,954,951 shares of the company’s stock worth $1,520,909,000 after purchasing an additional 1,345,065 shares during the period. Massachusetts Financial Services Co. MA boosted 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 valued at $1,430,250,000 after buying an additional 1,105,127 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in PepsiCo by 6.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,644,059 shares of the company’s stock worth $1,128,413,000 after buying an additional 375,963 shares in the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Price Performance

Shares of PEP traded up $0.13 during trading hours on Friday, reaching $175.87. The stock had a trading volume of 5,283,617 shares, compared to its average volume of 5,466,141. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.64 and a current ratio of 0.83. PepsiCo, Inc. has a 12 month low of $155.83 and a 12 month high of $183.41. The stock has a market capitalization of $241.57 billion, a PE ratio of 25.53, a PEG ratio of 2.98 and a beta of 0.52. The company’s 50-day moving average is $169.18 and its two-hundred day moving average is $170.68.

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

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be issued a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend is Friday, September 6th. PepsiCo’s payout ratio is presently 78.66%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. StockNews.com downgraded PepsiCo from a “buy” rating to a “hold” rating in a research report on Tuesday. Wells Fargo & Company reduced their price objective on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. BNP Paribas assumed coverage on shares of PepsiCo in a report on Monday, June 24th. They issued a “neutral” rating and a $174.00 target price on the stock. Royal Bank of Canada cut their price target on shares of PepsiCo from $180.00 to $177.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Finally, Morgan Stanley decreased their price objective on shares of PepsiCo from $190.00 to $185.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $185.53.

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.