Granite Bay Wealth Management LLC Acquires 2,187 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Granite Bay Wealth Management LLC raised its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 9.3% during the second quarter, Holdings Channel reports. The firm owned 25,676 shares of the company’s stock after buying an additional 2,187 shares during the period. Granite Bay Wealth Management LLC’s holdings in PepsiCo were worth $4,235,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of PEP. Legal & General Group Plc grew its position in PepsiCo by 7.2% in the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock valued at $2,234,400,000 after acquiring an additional 905,468 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of PepsiCo by 7.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company’s stock worth $1,673,632,000 after purchasing an additional 700,092 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of PepsiCo by 8.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock worth $1,221,089,000 after purchasing an additional 561,465 shares in the last quarter. Ameriprise Financial Inc. boosted its position in PepsiCo by 1.1% in the second quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock valued at $846,030,000 after buying an additional 57,322 shares in the last quarter. Finally, Flossbach Von Storch AG grew its stake in PepsiCo by 67.2% during the first quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock worth $798,047,000 after buying an additional 1,832,385 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Trading Up 0.0 %

NASDAQ:PEP opened at $170.05 on Tuesday. The company has a current ratio of 0.83, a quick ratio of 0.64 and a debt-to-equity ratio of 1.87. PepsiCo, Inc. has a 1-year low of $155.83 and a 1-year high of $183.41. The firm has a market capitalization of $233.58 billion, a price-to-earnings ratio of 24.68, a PEG ratio of 2.93 and a beta of 0.53. The business’s 50-day moving average price is $173.82 and its two-hundred day moving average price is $172.12.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Thursday, July 11th. The company reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.12. The business had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $22.59 billion. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. PepsiCo’s revenue for the quarter was up .8% on a year-over-year basis. During the same period last year, the company posted $2.09 EPS. On average, equities analysts expect that PepsiCo, Inc. will post 8.14 earnings per share for the current year.

PepsiCo Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 6th were paid a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend was Friday, September 6th. PepsiCo’s payout ratio is presently 78.66%.

Analyst Ratings Changes

Several brokerages have recently commented on PEP. DZ Bank downgraded PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price on the stock. in a report on Friday, July 19th. JPMorgan Chase & Co. decreased their target price on PepsiCo from $184.00 to $182.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. Bank of America reduced their price target on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday. Royal Bank of Canada lowered their price objective on shares of PepsiCo from $180.00 to $177.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. Finally, Barclays increased their price target on shares of PepsiCo from $179.00 to $187.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $185.20.

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.