Boenning & Scattergood Inc. Raises Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Boenning & Scattergood Inc. boosted its holdings in shares of PepsiCo, Inc. (NASDAQ:PEPGet Rating) by 0.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 58,217 shares of the company’s stock after purchasing an additional 543 shares during the quarter. PepsiCo comprises 1.8% of Boenning & Scattergood Inc.’s portfolio, making the stock its 6th biggest holding. Boenning & Scattergood Inc.’s holdings in PepsiCo were worth $9,702,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PEP. Cordant Inc. bought a new stake in PepsiCo in the 1st quarter worth approximately $27,000. Landmark Wealth Management LLC bought a new stake in PepsiCo in the 1st quarter worth approximately $29,000. Strategic Asset Management LLC increased its stake in PepsiCo by 53.3% in the 1st quarter. Strategic Asset Management LLC now owns 276 shares of the company’s stock worth $46,000 after acquiring an additional 96 shares during the last quarter. Retirement Group LLC increased its stake in PepsiCo by 100.0% in the 1st quarter. Retirement Group LLC now owns 322 shares of the company’s stock worth $54,000 after acquiring an additional 161 shares during the last quarter. Finally, Lansing Street Advisors bought a new stake in PepsiCo in the 1st quarter worth approximately $58,000. Institutional investors own 71.38% of the company’s stock.

PepsiCo Price Performance

PEP opened at $168.60 on Friday. PepsiCo, Inc. has a 52-week low of $149.48 and a 52-week high of $181.07. The stock has a market cap of $232.65 billion, a P/E ratio of 25.39, a PEG ratio of 3.30 and a beta of 0.55. The business has a fifty day moving average of $173.32 and a 200 day moving average of $170.45. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.78.

PepsiCo (NASDAQ:PEPGet Rating) last issued its earnings results on Tuesday, July 12th. The company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.13. PepsiCo had a return on equity of 52.01% and a net margin of 11.28%. The business had revenue of $20.23 billion during the quarter, compared to analysts’ expectations of $19.51 billion. During the same period in the prior year, the business earned $1.72 EPS. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that PepsiCo, Inc. will post 6.66 EPS for the current year.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 2nd will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 2.73%. The ex-dividend date is Thursday, September 1st. PepsiCo’s dividend payout ratio is 69.28%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PEP. Wells Fargo & Company cut their target price on PepsiCo from $175.00 to $172.00 and set an “equal weight” rating on the stock in a research report on Tuesday, June 21st. Deutsche Bank Aktiengesellschaft boosted their target price on PepsiCo from $175.00 to $178.00 and gave the company a “hold” rating in a research report on Thursday, July 7th. UBS Group cut their target price on PepsiCo from $190.00 to $182.00 and set a “buy” rating on the stock in a research report on Tuesday, June 21st. Barclays cut their target price on PepsiCo from $187.00 to $183.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 6th. Finally, JPMorgan Chase & Co. cut their target price on PepsiCo from $186.00 to $185.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 6th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, PepsiCo currently has a consensus rating of “Moderate Buy” and an average target price of $182.00.

Insiders Place Their Bets

In other PepsiCo news, CEO Steven C. Williams sold 1,753 shares of the company’s stock in a transaction on Friday, July 15th. The stock was sold at an average price of $171.18, for a total value of $300,078.54. Following the completion of the sale, the chief executive officer now directly owns 70,892 shares in the company, valued at approximately $12,135,292.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Steven C. Williams sold 1,753 shares of the company’s stock in a transaction on Friday, July 15th. The stock was sold at an average price of $171.18, for a total transaction of $300,078.54. Following the completion of the sale, the chief executive officer now directly owns 70,892 shares in the company, valued at approximately $12,135,292.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ramkumar Krishnan sold 3,433 shares of the company’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $174.83, for a total value of $600,191.39. Following the sale, the chief executive officer now owns 50,577 shares of the company’s stock, valued at $8,842,376.91. The disclosure for this sale can be found here. Company insiders own 0.12% of the company’s stock.

About PepsiCo

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PepsiCo, Inc manufactures, markets, distributes, and sells 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.

See Also

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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