Main Street Financial Solutions LLC Grows Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Main Street Financial Solutions LLC increased its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 3.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,328 shares of the company’s stock after buying an additional 371 shares during the period. Main Street Financial Solutions LLC’s holdings in PepsiCo were worth $1,703,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Strategy Asset Managers LLC boosted its position in shares of PepsiCo by 0.9% in the 1st quarter. Strategy Asset Managers LLC now owns 6,632 shares of the company’s stock valued at $1,161,000 after purchasing an additional 57 shares during the period. Meixler Investment Management Ltd. boosted its position in shares of PepsiCo by 4.4% in the 2nd quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company’s stock valued at $228,000 after purchasing an additional 58 shares during the period. Opes Wealth Management LLC boosted its position in shares of PepsiCo by 2.2% in the 2nd quarter. Opes Wealth Management LLC now owns 2,748 shares of the company’s stock valued at $453,000 after purchasing an additional 59 shares during the period. Bank of Stockton boosted its position in shares of PepsiCo by 2.3% in the 2nd quarter. Bank of Stockton now owns 2,716 shares of the company’s stock valued at $448,000 after purchasing an additional 60 shares during the period. Finally, Oxbow Advisors LLC boosted its position in shares of PepsiCo by 0.7% in the 2nd quarter. Oxbow Advisors LLC now owns 8,982 shares of the company’s stock valued at $1,481,000 after purchasing an additional 60 shares during the period. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Stock Up 0.8 %

Shares of PEP stock opened at $177.25 on Friday. The stock’s 50 day simple moving average is $172.11 and its 200 day simple moving average is $171.37. 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 twelve month low of $155.83 and a twelve month high of $183.41. The company has a market capitalization of $243.47 billion, a price-to-earnings ratio of 25.73, a PEG ratio of 3.03 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data 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. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The business had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $22.59 billion. During the same period last year, the business earned $2.09 EPS. The firm’s revenue was up .8% compared to the same quarter last year. As a group, research analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be paid a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend is Friday, September 6th. PepsiCo’s payout ratio is 78.66%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Bank of America decreased their price target on PepsiCo from $210.00 to $190.00 and set a “buy” rating for the company in a research report on Monday, July 8th. Royal Bank of Canada reduced their price objective on PepsiCo from $180.00 to $177.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. JPMorgan Chase & Co. reduced their price objective on PepsiCo from $184.00 to $182.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. Morgan Stanley reduced their price objective on PepsiCo from $190.00 to $185.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Finally, BNP Paribas assumed coverage on PepsiCo in a research note on Monday, June 24th. They issued a “neutral” rating and a $174.00 price objective for the company. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $185.53.

PepsiCo Profile

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.