Thoroughbred Financial Services LLC Boosts Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Thoroughbred Financial Services LLC grew its position in PepsiCo, Inc. (NASDAQ:PEP) by 7.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,034 shares of the company’s stock after purchasing an additional 1,622 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in PepsiCo were worth $3,963,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Mcintyre Freedman & Flynn Investment Advisers Inc. increased its position in PepsiCo by 26.1% during the 2nd quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. now owns 17,134 shares of the company’s stock valued at $2,826,000 after buying an additional 3,550 shares in the last quarter. SYM FINANCIAL Corp increased its holdings in shares of PepsiCo by 36.7% during the second quarter. SYM FINANCIAL Corp now owns 3,128 shares of the company’s stock valued at $516,000 after acquiring an additional 839 shares in the last quarter. Hardin Capital Partners LLC purchased a new position in shares of PepsiCo in the 2nd quarter valued at approximately $607,000. Federated Hermes Inc. boosted its stake in PepsiCo by 1.6% in the 2nd quarter. Federated Hermes Inc. now owns 562,428 shares of the company’s stock worth $92,761,000 after purchasing an additional 9,122 shares in the last quarter. Finally, GHP Investment Advisors Inc. increased its stake in PepsiCo by 4.1% during the 2nd quarter. GHP Investment Advisors Inc. now owns 65,171 shares of the company’s stock valued at $10,749,000 after purchasing an additional 2,553 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

NASDAQ:PEP opened at $177.36 on Friday. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.87. PepsiCo, Inc. has a 52 week low of $155.83 and a 52 week high of $183.41. The stock’s 50-day moving average price is $172.37 and its 200-day moving average price is $171.43. The stock has a market capitalization of $243.62 billion, a PE ratio of 25.74, a price-to-earnings-growth ratio of 3.03 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Thursday, July 11th. The company reported $2.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.12. The firm had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $22.59 billion. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter last year, the company earned $2.09 EPS. As a group, equities analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

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

Analyst Ratings Changes

PEP has been the subject of several research reports. Wells Fargo & Company lowered their price objective on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. JPMorgan Chase & Co. cut their price objective on PepsiCo from $184.00 to $182.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. TD Cowen decreased their target price on PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Royal Bank of Canada reduced their price target 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, BNP Paribas began coverage on shares of PepsiCo in a report on Monday, June 24th. They issued a “neutral” rating and a $174.00 price objective on the stock. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, PepsiCo presently has a consensus rating of “Moderate Buy” and a consensus price target of $185.53.

PepsiCo Company 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.