AMJ Financial Wealth Management Purchases Shares of 31,365 PepsiCo, Inc. (NASDAQ:PEP)

AMJ Financial Wealth Management acquired a new stake in PepsiCo, Inc. (NASDAQ:PEP) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 31,365 shares of the company’s stock, valued at approximately $5,809,000. PepsiCo accounts for 2.6% of AMJ Financial Wealth Management’s investment portfolio, making the stock its 19th biggest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Avion Wealth grew its stake in shares of PepsiCo by 70.6% in the 2nd quarter. Avion Wealth now owns 145 shares of the company’s stock valued at $25,000 after buying an additional 60 shares during the period. Spotlight Asset Group Inc. acquired a new stake in PepsiCo in the second quarter valued at approximately $27,000. Pacific Center for Financial Services bought a new stake in shares of PepsiCo during the first quarter valued at approximately $47,000. GW&K Investment Management LLC acquired a new position in shares of PepsiCo during the first quarter worth approximately $55,000. Finally, Alpha Paradigm Partners LLC bought a new position in shares of PepsiCo in the 3rd quarter worth $66,000. Institutional investors own 71.40% of the company’s stock.

Insider Transactions at PepsiCo

In other news, CFO Hugh F. Johnston sold 48,388 shares of PepsiCo stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $166.65, for a total value of $8,063,860.20. Following the completion of the sale, the chief financial officer now directly owns 96,627 shares in the company, valued at $16,102,889.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on PEP. DZ Bank upgraded shares of PepsiCo from a “hold” rating to a “buy” rating and set a $187.00 price objective on the stock in a report on Thursday, October 19th. Wedbush dropped their price target on shares of PepsiCo from $206.00 to $195.00 and set an “outperform” rating on the stock in a research report on Monday, October 9th. Royal Bank of Canada reiterated a “sector perform” rating and set a $180.00 price target on shares of PepsiCo in a research note on Wednesday, October 11th. Citigroup dropped their target price on PepsiCo from $200.00 to $180.00 and set a “neutral” rating on the stock in a report on Wednesday, October 11th. Finally, Barclays upped their price target on PepsiCo from $179.00 to $181.00 and gave the stock an “overweight” rating in a report on Thursday, October 12th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $187.57.

PepsiCo Stock Down 0.1 %

PEP stock traded down $0.21 during midday trading on Monday, hitting $166.55. The stock had a trading volume of 890,966 shares, compared to its average volume of 4,878,588. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.88 and a quick ratio of 0.71. The firm has a market cap of $228.98 billion, a price-to-earnings ratio of 27.75, a price-to-earnings-growth ratio of 2.68 and a beta of 0.57. The business has a 50-day moving average of $167.57 and a two-hundred day moving average of $178.60. PepsiCo, Inc. has a 52-week low of $155.83 and a 52-week high of $196.88.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, October 10th. The company reported $2.25 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.10. The firm had revenue of $23.45 billion for the quarter, compared to analysts’ expectations of $23.41 billion. PepsiCo had a return on equity of 58.28% and a net margin of 9.05%. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.97 EPS. As a group, equities research analysts forecast that PepsiCo, Inc. will post 7.55 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Friday, December 1st will be issued a $1.265 dividend. This represents a $5.06 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date is Thursday, November 30th. PepsiCo’s payout ratio is 84.33%.

About PepsiCo

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.