Webster Bank N. A. trimmed its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 53,685 shares of the company’s stock after selling 613 shares during the quarter. PepsiCo accounts for approximately 1.0% of Webster Bank N. A.’s investment portfolio, making the stock its 23rd largest holding. Webster Bank N. A.’s holdings in PepsiCo were worth $7,100,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Country Club Trust Company n.a. boosted its holdings in shares of PepsiCo by 0.4% in the first quarter. Country Club Trust Company n.a. now owns 17,967 shares of the company’s stock valued at $2,254,000 after purchasing an additional 76 shares during the period. Change Path LLC lifted its holdings in shares of PepsiCo by 3.2% in the 4th quarter. Change Path LLC now owns 2,567 shares of the company’s stock worth $351,000 after buying an additional 80 shares during the period. Inspirion Wealth Advisors LLC grew its position in shares of PepsiCo by 2.9% during the 1st quarter. Inspirion Wealth Advisors LLC now owns 2,836 shares of the company’s stock worth $341,000 after buying an additional 80 shares in the last quarter. Hodges Capital Management Inc. increased its stake in shares of PepsiCo by 0.6% during the first quarter. Hodges Capital Management Inc. now owns 13,818 shares of the company’s stock valued at $1,660,000 after buying an additional 80 shares during the period. Finally, Larson Financial Group LLC raised its holdings in shares of PepsiCo by 4.8% in the first quarter. Larson Financial Group LLC now owns 1,785 shares of the company’s stock valued at $214,000 after acquiring an additional 81 shares in the last quarter. 70.71% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently commented on PEP. Cowen boosted their price target on shares of PepsiCo from $135.00 to $156.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Credit Suisse Group raised shares of PepsiCo from an “underperform” rating to an “outperform” rating and boosted their price objective for the stock from $138.00 to $144.00 in a research note on Friday, March 27th. Goldman Sachs Group started coverage on PepsiCo in a report on Wednesday, April 1st. They issued a “conviction-buy” rating on the stock. Evercore ISI raised PepsiCo from an “in-line” rating to an “outperform” rating and set a $130.00 price objective on the stock in a research report on Tuesday, March 17th. Finally, Morgan Stanley reiterated a “buy” rating on shares of PepsiCo in a report on Wednesday, May 13th. Nine research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $142.06.
PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, April 28th. The company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.04. The firm had revenue of $13.88 billion for the quarter, compared to the consensus estimate of $13.20 billion. PepsiCo had a return on equity of 55.74% and a net margin of 10.62%. The firm’s revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.97 EPS. Analysts predict that PepsiCo, Inc. will post 5.31 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th were paid a dividend of $1.0225 per share. This represents a $4.09 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend was Thursday, June 4th. This is an increase from PepsiCo’s previous quarterly dividend of $0.96. PepsiCo’s payout ratio is presently 73.96%.
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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